Thursday, January 6, 2011

FBM KLCI snaps winning streak, but selling well absorbed

KUALA LUMPUR: The FBM KLCI snapped its three-days of gains at the mid-day break on Thursday, Jan 6 on some mild profit taking in line with the generally mixed sentiment at the key regional markets. However, the selling was well absorbed with rotational interest shifting to other counters.

At 12.30pm, the FBM KLCI shed 0.03% or 0.53 point to 1,565.64, weighed by losses at blue chips including CIMB, Tenaga, AMMB, MISC and Petronas Dagangan. Gainers edged losers by 397 to 336, while 304 counters traded unchanged. Volume was 1.17 billion shares valued at RM1.38 billion.

The Nikkei rallied as investors snapped up shares of Japanese exporters after the dollar hit two-week highs against the yen, but markets elsewhere in Asia were more subdued ahead of the influential US non-farm payrolls report, according to Reuters.

The ringgit weakened 0.135 to 3.0735 versus the US dollar; crude palm oil for the third month delivery jumped RM63 per tonne to RM3,846, crude oil slipped two cents per barrel to US$90.28 while gold fell US$2.38 per troy ounce to US$1,375.95.

At the regional markets, Japan's Nikkei 225 rose 1.31% to 10,516.53, Singapore's Straits Times Index added 0.55% to 3,272.24, Hong Kong's Hang Seng edged up 0.02% to 23,763.59 while the Shanghai Composite Index declined 0.24% to 2,831.87, South Korea's Kospi fell 0.23% to 2,077.77 and Taiwan's Taiex lost 0.10% to 8,837.81.

On Bursa Malaysia, trading in the securities of Maybank was halted from 9am for its announcement of a RM4.2 billion bid to acquire Kim Eng Holdings Ltd of Singapore.

Among the major losers, CIMB fell five sen to RM8.95, Tenaga, AMMB and Petronas Dagangan fell 10 sen each to RM6.57, RM7.05 and RM11.90 respectively, and MISC lost seven sen to RM8.40.

Meanwhile, Bintulu Port fell 30 sen to RM6.70, IJM Corp down 14 sen to RM6.29, and United PLANTATION []s lost 12 sen to RM17.

Ramunia was the most active with 40.7 million shares done. The stock added three sen to 61 sen. Other actives included SAAG, Scomi, Olympia, Hubline and Petronas Chemicals.

Newly-listed Maxwell International was also actively traded with 24.9 million shares done. The stock gained three sen to 57 sen.

DFZ Capital, CBIP, UEM Land, Kulim, Masterskill, Batu Kawan, Affin, Cocoaland and LPI Capital were among the gainers.

DFZ rose 43 sen to RM3.89 with 200 shares done, CBIP 32 sen to RM4.52, UEM Land and Kulim 26 sen each to RM2.81 and RM13.50 while Masterskill jumped 24 sento RM2.52.


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