KUALA LUMPUR: Light buying of banking stocks including Public Bank, Maybank and CIMB enabled the FBM KLCI to recoup some of the previous day's losses at the close of the morning session on Thursday, Dec 10.
At 12.30pm, the FBM KLCI had risen 2.22 points to 1,257.98 compared with a loss of 5.9 points towards the close on Wednesday. Volume remained thin with 280.34 million shares valued at RM293.81 million. The broader market was slightly cautious, with 200 gainers, 261 losers and 256 stocks unchanged.
Key regional markets were in the red: Japan's Nikkei 225 fell 1.53% to 9,851.82, Hong Kong's Hang Seng Index lost 0.8% to 21,577.09, Shanghai's Composite Index shed 0.04% to 3,238.35 while Singapore's Straits Times Index lost 1% to 2,769.85.
Light crude oil rose four US cents to US$70.71 but crude palm oil futures fell RM32 to RM2,498 and US spot gold shed US$2.77 to US$1,125.83.
At Bursa Malaysia, more signs of an economic recovery emerged, as the October industrial production index rose 0.7% year-on-year, the first time since September 2008, underpinned by manufacturing and electricity.
Industrial output in October increased 5.7% month-on-month after the September IPI was revised to a negative 6% year-on-year.
Public Bank rose four sen to RM10.96, Maybank and CIMB two sen each to RM6.73 and RM12.84, adding a combined 1.02 points to the 30-stock FBM KLCI.
Among telcos, Axiata added one sen to RM3.02, TM two sen to RM3.01 and Maxis two sen to RM5.37 while utility giant Tenaga added one sen to RM8.40.
BAT snapped its recent losing streak, advancing 26 sen to RM42.68. Nestle was the top gainer, adding 48 sen to RM33.10 but with only 100 shares done while Dutch Lady put on 20 sen to RM12.70. Power-and-gaming conglomerate Tanjong was 16 sen higher at RM16.56.
GBH's announcement ofa rights issue to raise RM74.3 million saw the shares jump 45 sen to RM1.95 with 44,000 shares done. The rights shares are to be priced at RM1 each.
DSC Solutions, which surged on its first trading day yesterday, eased 0.5 sen to 74 sen with 23 million shares done. Its reference price was 25 sen.
Toyo Ink was the top loser, shedding 14 sen to RM1.43, Petra 11 sen to RM1.53 while Kulim gave up seven sen to RM7.38
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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