KLCI claws back to stay above 1,500-level for second day

KUALA LUMPUR (Dec 28): The FBM KLCI reversed its earlier losses and closed above the psychologically-crucial 1,500-level for the second day running on Wednesday, spurred by some late buying into select blue chips and PLANTATION counters.

The FBM KLCI rose 3.20 points to 1,504.11.

Gainers overtook losers by 386 to 314, while 312 counters traded unchanged. Volume was 1.27 billion shares valued at RM904.21 million.

At the regional markets, Hong Kong’s Hang Seng Index fell 0.59% to 18,518.67, Japan’s Nikkei 225 lost 0.20% to 8,423.62, South Korea’s Kospi fell 0.92% to 1,825.12, Taiwan’s Taiex was down 0.40% to 7,056.67 and Singapore’s Straits Times Index shed 0.28% to 2,666.25.

Meanwhile, the Shanghai Composite Index edged up 0.18% to 2,170.01.

Elsewhere, European stocks reversed early gains on Wednesday and lost ground, hit by renewed worries over the euro zone debt crisis ahead of an Italian debt auction, and after Iran’s threat to stop the flow of oil through the Strait of Hormuz, according to Reuters.

On Bursa Malaysia, gainers included Petronas Gas that rose 70 sen to RM15.10, Boxpak 37 sen to RM2.47, MAHB 31 sen to RM5.91, DKSH 23 sen to RM1.61, BAT 20 sen to 49.20, Carlsberg 15 sen to RM8.53, KrisAssets 13 sen to RM6.05 and CIMB five sen to RM7.10.

Among plantation-related stocks, Chin Teck rose 29 sen to RM8.99, United Plantations 20 sen to RM18.80, Genting Plantations 18 sen to RM8.58, PPB four sen to RM17, IOI Corp three sen to RM5.29 and KLK two sen to RM22.58.

Warisan was the top loser and fell 38 sen to RM2.41; Batu Kawan lost 20 sen to RM17.30, HLFG 12 sen to RM11.68, Top Glove 11 sen to RM4.83, Kluang and Nestle 10 sen each to RM2.60 and RM56.70, Fima Corp nine sen to RM5.71, Guan Chong and Kretam down eight sen each to RM2.01 and RM2.42, while LTKM fell seven sen to RM1.78.

Meanwhile, Utopia was the most actively traded counter with 112.9 million shares done. The stock fell half a sen to 7.5 sen. Other actives included Proton, JCY, Sanichi, Sumatec and Vastalux.

Source: The Edge Malaysia

Written by Surin Murugiah of theedgemalaysia.com
Wednesday, 28 December 2011 17:25