Thursday, November 24, 2011

KLCI claws back at mid-day on bargain hunting

KUALA LUMPUR (Nov 24): The FBM KLCI clawed back into positive territory at the mid-day break on Thursday, lifted by some bargain hunting activities on blue chip stocks.

Meanwhile, regional markets also most reversed their earlier losses, shaking off the fears sparked by a botched German bond sale that had created worries that the debt crisis was starting to threaten even Berlin.

The FBM KLCI rose 0.39% or 5.65 points to 1,438.82 at the mid-day break, boosted by gains including at CIMB, Sime Darby, Public Bank and Genting.

Gainers overtook losers by 332 to 259, while 239 counters traded unchanged. Volume was 789.37 million shares valued at RM448.56 million.

The ringgit weakened 0.28% to 3.1868 versus the US dollar; crude palm oil futures for the third month delivery fell RM62 per tonne to RM3,099, crude oil rose four cents per barrel to US$96.21 while gold fell 82 cents an ounce to US$1,691.45.

At the regional markets, Hong Kong's Hang Seng Index rose 0.45% to 17,944.72, South Korea's Kospi added 0.53% to 1,792.63, Taiwan's Taiex gained 0.41% to 6,834.25, the Shanghai Composite Index rose 0.28% to 2,401.85 and Singapore's Straits Times Index edged up 0.18% to 2,681.48.

Meanwhile, Japan's Nikkei 225 pared down some of its losses and fell 1.47% to 8,192.61.

On Bursa Malaysia, CIMB gained nine sen to RM6.77, Sime Darby rose 10 sen to RM8.83, Public Bank and Telekom rose six sen each to RM12.42 and RM4.28, Genting eight sen to RM10.20, Petronas Gas 14 sen to RM13.30 and Tenaga five sen to RM5.42.

Other gainers included Batu Kawan and Proton that rose 44 sen each to RM16.64 and RM3.39, CI Holdings 23.5 sen to 90.5 sen, HLFG 18 sen to RM11.18, KrisAssets 16 sen to RM5.18 while AIC gained 13 sen to RM1.30.

Among the decliners, BAT fell 52 sen to RM46.98, Dutch Lady 30 sen to RM23.30, Panasonic and KLK 10 sen each to RM19.70 and RM21.28, KNM nine sen to RM1.03, while Parkson and MISC lost seven sen each to RM5.58 and RM6.13.

Meanwhile, the actives included MBF Holdings warrants, Compugates, Sumatec, KNM, Karambunai, DPS Resources and JCY.




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