Market breadth mixed, eye on IOI Corp

Written by Joseph Chin
Wednesday, 26 August 2009 13:41

KUALA LUMPUR: The market breadth was mixed at midday on Aug 26 with some buying interest seen in small capitalised companies, but the 30-stock FBM KLCI fell below 1,170, weighed by losses in Maybank.

IOI Corp, Mudajaya and CI Holdings released their results during the midday break. IOI Corp's earnings for the fourth quarter ended June 30, 2009 (4Q09) fell 18.4% to RM487.07 million compared with RM597.28 milion a year ago after it was affected by an impairment loss of RM242.8 million recognised on a development property in Singapore.
Mudayaja reported net profit doubled to RM26.48 million in the second quarter ended June 30 from RM13.59 million.

At 12.30pm, the FBM KLCI fell 2.1 points to 1,168.99. Turnover was 306.51 million shares valued at RM386.08 million. There were 258 gainers, 259 gainers or 192 unchanged.Light crude oil fell five cents to US$71.99 while crude palm oil futures were unchanged at RM2,355.Japan's Nikkei 225 rose 1.44% to 10,648.81; Hong Kong's Hang Seng Index added 0.36% to 20,350.25, Shanghai's Composite Index 1.52% higher at 2,960.03 while Singapore's Straits Times Index added 0.17% to 2,623.15.At Bursa Malaysia, Maybank fell seven sen to RM6.45 but off its earlier lows following the fourth quarter losses due to the one-off impairment losses for Bank Internasional Indonesia.

Huat Lai was the top loser, down 24 sen to 51 sen with 41,300 shares done while Panasonic Malaysia shed 14 sen to RM12 while BLD PLANTATION [
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]s, Plenitude and Petra lost 11 sen each to RM3.45, RM2.55 and RM2.57.Yun Kong-WA was the most active with 15.1 million shares done. Dutch Lady was the top gainer, adding 30 sen to RM11.80 with 2,700 shares done.

EON Cap added 12 sen to RM5.MPHB saw active trade, rising 13 sen to RM2.08 while PLUS edged up one sen to RM3.38. Genting, which is due to release its results this evening, added five sen to RM6.85.