Tuesday, November 8, 2011

KLCI pares down gains at mid-day

KUALA LUMPUR (Nov 8): The FBM KLCI pared down some of its gains at the mid-day break on Tuesday, Nov 8 in line with the overall cautious sentiment at key regional markets as issues in Europe remain unresolved, with Greece struggling to pick a new leader and Italy still mired in debt.

The FBM KLCI was up 8.21 points to 1,485.72 at the mid-day break.

Gainers led losers by 380 to 214, while 265 counters traded unchanged. Volume was 954.5 million shares valued at RM683.1 million.

The ringgit weakened 0.07% to 3.1306 versus the US dollar; crude palm oil futures for the third month delivery rose RM5 per tonne to RM3,025, crude oil added seven cents per barrel to US$95.59 while gold fell US$2.55 an ounce to US$1,792.55.

At the regional markets, Hong Kong's Hang Seng Index rose 0.65% to 19,804.91, the Shanghai Composite Index gained 0.48% to 2,521.95 and Singapore's Straits Times added 0.21% to 2,854.09.

Meanwhile, Japan's Nikkei 225 fell 0.80% to 8,696.68, South Korea's Kospi lost 0.21% to 1,915.11 and Taiwan's Taiex shed 0.07% to 7,616.41.

On Bursa Malaysia, DiGi gained 80 sen to RM34.10, F&N 42 sen to RM17.56, Dutch Lady 32 sen to RM20.60, Harvest Court 29.5 sen to RM1.17, Malaysia Smelting Corp 27 sen to RM4.24, Petronas Dagangan and BAT 24 sen each to RM16.32 and RM46.42, while Malayan Flour Mills and KLK rose 22 sen each to RM7.55 and RM21.22.

Karambunai, which earlier this morning said the increase in price and trading volume in its securities over the past three trading days was due to pure speculative activity, was the most actively traded counter in the morning session.

The stock rose one sen to 21.5 sen with 102.3 million shares done.

Other actives included Sanichi,Harvest Court shares and warrants, Focus, Flonic, Palette, Compugates and HWGB.

Decliners included Cocoaland, Ta Ann, Panasonic, Aeon, PacificMas, MBM Resources and Kulim.

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