Monday, November 14, 2011

KLCI closes firmly higher

KUALA LUMPUR (Nov 14): The FBM KLCI closed firmly higher on Monday, Nov 14 in line with key Asian markets, while European markets opened on a generally more positive tone.

The FBM KLCI rose 10.12 points to close at 1,478.87.

Gainers led losers by 647 to 193, while 246 counters traded unchanged. Volume was 2.85 billion shares valued at RM1.89 billion.

Financial markets on Monday greeted the appointments of technocratic leaders in euro zone debt hot spots Italy and Greece with cautious optimism, boosting stocks.

Italy's president appointed former European Commissioner Mario Monti on Sunday to head a new government with the task of restoring market confidence in the euro zone's third largest economy, whose debt burden is too big for the bloc to bail out.

Meanwhile in Greece, Lucas Papademos, a former European Central Bank vice president, has been sworn in as prime minister and is under pressure to implement radical reforms.

At the regional markets, Hong Kong's Hang Seng Index rose 1.94% to 19,508.18, the Shanghai Composite Index added 1.92% to 2,528.71, Taiwan's Taiex gained 2.15% to 7,525.65, South Korea's Kospi rose 2.11% to 1,902.81, Japan's Nikkei 225 was up 1.05% to 8,603.70 and Singapore's Straits Times Index rose 1.4% to 2,830.14.

On Bursa Malaysia, DiGi was the top gainer and was up 74 sen to RM34.52; Dutch Lady gained 50 sen to RM21.50, Harvest Court 48 sen to RM2.13, United PLANTATION []s 40 sen to RM18.30, Panasonic 36 sen to RM19.36, TSH Resources 35 sen to RM3.80, while PPB and BAT gained 28 sen each to RM16.90 and RM45.98.

DPS was the most actively traded counter with 266.4 million shares done. The stock jumped 17.5 sen to 31 sen.

Other actives included DBE Gurney, Karambunai, SYF Resources, Tiger and Compugates.

Decliners included LPI Capital, BLD Plantations, Quality Concrete, Tasek, Taliworks, P.I.E. and Konsortium.

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