Tags: Berjaya Corp | CIMB | FBM KLCI | Oversea Enterprise
Written by Joseph Chin
Thursday, 01 April 2010 13:07
KUALA LUMPUR: Some fund buying of CIMB and index-linked stocks propelled the FBM KLCI to its highest since March 2008 as the second quarter started on an optimistic note on Thursday, April 1.
At 12.30pm, the FBM KLCI was up 10.76 points to 1,331.33. Turnover was 405.45 million shares valued at RM586.65 million. There were 314 gainers, 299 losers and 283 stocks unchanged.
Among key regional markets, Japan's Nikkei 225 rose 1.3% to 11,234.36, Hong Kong's Hang Seng Index added 0.9% to 21,439.71 while Shanghai's Composite Index advanced 0.97% to 3,139.16 and Singapore's Straits Times added 1.2% to 2,921.64.
Light crude oil fell 36 cents to US$83.40, crude palm oil futures shed RM16 to RM2,520 while US spot gold fell 40 cents to US$1,112.85.
Nestle and Tanjong rose 32 sen each to RM34.46 and RM18.26 while MISC advanced 29 sen to RM8.39. CIMB added 26 sen to RM14.32 with 3.39 million shares done as investors see more upside for the group as investment banking picks up.
Among PLANTATION []s, Far East rose 15 sen to RM6.85, PPB, which has exposure to plantations via Singapore-listed Wilmar, added 14 sen to RM18.14 while Batu Kawan and KL Kepong added 12 sen each to RM10.80 and RM16.80.
MISC, a laggard among index-linked stocks, rose 29 sen to RM8.39 while chip tester KESM added 18 sen to RM2.37.
DiGi gained 12 sen to RM22.70 while OSK Research is maintaining its Neutral call based on target price of RM23.10.
OSK Research said DiGi had ingeniously customised its iPhone packages to cater for a larger addressable market of potential iPhone users.
"Overall, we believe its plans are attractive and would entice existing 2G/3G subscribers to upgrade or recontract their plans and stoke interest among current users of alternative smartphones and regular 2G/3G handsets," it said.
Oversea Enterprise, which was listed on Thursday, rose 2.5 sen to 25.5 sen with 36 million shares done.
MRCB added four sen to RM1.69, which was 19 sen above the EPF's offer price of RM1.50 per share in its takeover of the company. Investors hope the EPF will raise the offer price.
BCorp fell seven sen to RM1.68 and BCorp-LC four sen to RM1.21 in very active trade after it reported losses.
Measat was among the decliners, down 14 sen to RM3.09 as investors took profit in the absence of news after the rally in its share price in recent weeks. The rally was spurred by news of Astro being taken private by its major shareholder.
Edaran fell the most, down 17 sen to 56 sen in thin trade while Petra Energy shed 10 sen to RM1.40 and Haisan 9.5 sen to 50.5 sen.
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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