By Jeeva Arulampalam
Published: 2010/01/01
However, the best-performing FBM KLCI member of 2009 was MMC Corp which saw its stock price surge 133.65 per cent from a year ago
Banking and plantation stocks on the benchmark index were the best performers last year as investors bet they would benefit from a rebounding economy and the rising price of crude palm oil (CPO).
The FTSE Bursa Malaysia KLCI closed at 1,272.78, up 1.66 points yesterday, the last trading day for 2009, with a turnover of 602.4 million shares valued at RM842.716 million.
The key index gained 45.2 per cent for the whole of last year, quickly rebounding from a 40 per cent fall in 2008.
OSK Investment Research said that banking stocks performed well last year as recovery in the capital market was ahead of expectation and local banks were not too troubled by loan recovery.
"The banks' non-performing loans were below people's expectation. Also, strong growth in Indonesia for banks like CIMB bode well," OSK head of research Chris Eng told Business Times yesterday.
Eng remains bullish on banking stocks for this year as their earnings benefit from higher interest rates.
The country's second largest bank, CIMB Group Holdings Bhd, led gainers in the banking sector, with its share price more than doubling in a year to end at RM12.84 yesterday.
Its share price hit a record high of RM13.28 on November 16 on news that the banking group was planning a dual listing in Thailand this year.
Meanwhile, plantation stocks also did well as the price of CPO rose from a lower base at the start of last year.
CPO price on the futures market as of yesterday was RM2,658 compared with RM1,744 a year ago.
A plantation analyst also said that demand for palm oil grew as crops were destroyed in a draught in Latin America.
Planter Kuala Lumpur Kepong Bhd saw its share price increase the most last year, some 85.39 per cent to end at RM16.50.
The best-performing index member of 2009 was MMC Corp Bhd, an operator of ports and power plants, which saw its stock price surge 133.65 per cent from a year ago.
The share ended at RM2.43 yesterday, having recovered from the hammering experienced in 2008 due to concern over its related-party deal to buy airport operator Senai Airport Terminal Services Sdn Bhd (SATS).
The announcement, made in August 2008, was followed by plans to sell a minority stake in its subsidiary, Port of Tanjung Pelepas, in December 2008 to help finance the SATS purchase.
The stock hit a low of 95.5 sen on December 17 2008 before recovering slightly to end 2008 at RM1.04.
"While investors were fed up with the related-party deal, they have realised that the group's asset remains intact. MMC is an asset play; it is value-yielding in a longer term," Eng said.
The worst-performing index member was British American Tobacco (Malaysia) Bhd. Its share price fell almost 4 per cent through the year to end at RM42.80.
"Dividend-yielding stocks didn't do so good this year. However, the cigarette boys continue to face problems with high illicit trade in the industry," said Eng.
Tobacco companies were also impacted by the government's decision to raise the tobacco excise duty by 1 sen per stick to 19 sen in October.
January 1, 2010
KL ready to tap potential of regional trade pact
By Rupa DamodaranPublished: 2010/01/01
Businesses in all sectors of the Malaysia economy are ready for full implementation of the Asean-China free trade agreement
Malaysia is ready for full implementation of the Asean-China free trade agreement (FTA) today, Ministry of International Trade and Industry (Miti) secretary-general Tan Sri Abdul Rahman Mamat said.
He said that businesses in all sectors of the economy were ready to be involved in the world's largest trading bloc, which will have 1.9 billion consumers and a combined gross domestic product (GDP) of approximately US$6 trillion (RM21 trillion).
Starting today, China and the Asean-6 comprising Malaysia, Brunei, Indonesia, the Philippines, Singapore and Thailand will realise full implementation of the FTA, with duties on 90 per cent of products eliminated.
Abdul Rahman told Business Times that China's strong economic growth provided opportunities for Malaysia and other Asean economies to increase their exports of goods and services to the Chinese market.
Miti has placed China, with its huge market potential, on its high-priority list to enhance bilateral trade and investment relations.
"China's strong economic growth has, in a way, reduced the impact of the global financial and economic crisis on Asean," he said.
China is Malaysia's fourth largest trading partner, after Singapore, the US and Japan. Trade in 2008 amounted to RM130 billion, or 11 per cent of Malaysia's global trade.
Malaysia's exports to China in 2008 were valued at RM63 billion, accounting for almost one-tenth of the former's global exports.
In the first nine months of last year, trade with China stood at RM89 billion, with exports amounting to RM46.8 billion.
The regional trade pact, however, has caused some worry among Indonesian furniture exporters, who claimed that their businesses were being affected.
Furniture makers in Southeast Asia were still not ready for full implementation of the FTA with China, they said.
The Association of Indonesian Furniture and Handicraft Exporters, or Asmindo, claimed that the FTA would slice the domestic furniture market by up to 50 per cent.
In Malaysia's case, there is no direct competition as there has been no import duty on furniture since 2005 for Asean and Asean-China markets.
According to P. Ravindran, senior director of the Asean economic cooperation division in Miti, no sectors in the country had expressed any such concern so far.
The iron and steel sector had voiced their fears earlier, given that China is a major producer and exports about 70 million tonnes a year.
Miti has embarked on several promotional programmes to tap the China market potential.
Besides trade in goods, Asean and China are also liberalising services. Several sectors have opened up for greater Chinese equity ownership, including architecture, engineering, telecommunications, financial services, education, health and tourism.
Businesses in all sectors of the Malaysia economy are ready for full implementation of the Asean-China free trade agreement
Malaysia is ready for full implementation of the Asean-China free trade agreement (FTA) today, Ministry of International Trade and Industry (Miti) secretary-general Tan Sri Abdul Rahman Mamat said.
He said that businesses in all sectors of the economy were ready to be involved in the world's largest trading bloc, which will have 1.9 billion consumers and a combined gross domestic product (GDP) of approximately US$6 trillion (RM21 trillion).
Starting today, China and the Asean-6 comprising Malaysia, Brunei, Indonesia, the Philippines, Singapore and Thailand will realise full implementation of the FTA, with duties on 90 per cent of products eliminated.
Abdul Rahman told Business Times that China's strong economic growth provided opportunities for Malaysia and other Asean economies to increase their exports of goods and services to the Chinese market.
Miti has placed China, with its huge market potential, on its high-priority list to enhance bilateral trade and investment relations.
"China's strong economic growth has, in a way, reduced the impact of the global financial and economic crisis on Asean," he said.
China is Malaysia's fourth largest trading partner, after Singapore, the US and Japan. Trade in 2008 amounted to RM130 billion, or 11 per cent of Malaysia's global trade.
Malaysia's exports to China in 2008 were valued at RM63 billion, accounting for almost one-tenth of the former's global exports.
In the first nine months of last year, trade with China stood at RM89 billion, with exports amounting to RM46.8 billion.
The regional trade pact, however, has caused some worry among Indonesian furniture exporters, who claimed that their businesses were being affected.
Furniture makers in Southeast Asia were still not ready for full implementation of the FTA with China, they said.
The Association of Indonesian Furniture and Handicraft Exporters, or Asmindo, claimed that the FTA would slice the domestic furniture market by up to 50 per cent.
In Malaysia's case, there is no direct competition as there has been no import duty on furniture since 2005 for Asean and Asean-China markets.
According to P. Ravindran, senior director of the Asean economic cooperation division in Miti, no sectors in the country had expressed any such concern so far.
The iron and steel sector had voiced their fears earlier, given that China is a major producer and exports about 70 million tonnes a year.
Miti has embarked on several promotional programmes to tap the China market potential.
Besides trade in goods, Asean and China are also liberalising services. Several sectors have opened up for greater Chinese equity ownership, including architecture, engineering, telecommunications, financial services, education, health and tourism.
Wall St ends a tad higher; Dow, Nasdaq at '09 highs
Tags: business activity | Dollar | Wall Street
Written by Reuters
Thursday, 31 December 2009 07:53
NEW YORK: U.S. stocks ended a smidgen higher in very light trading on Wednesday, Dec 30 as a stronger-than-expected report on Midwest U.S. business activity was offset by investors taking profits in some of the year's better performers, according to Reuters.
Still, the Dow and the Nasdaq eked out fresh highs for the year. The Standard & Poor's benchmark index is up 25 percent for 2009, putting it on track for its best year since 2003.
Most of the advance is the result of the nine-month rally the market has seen as investors turned bullish on prospects for the economic recovery. The S&P 500 is up a whopping 66.5 percent since its March 9 closing low.
On Wednesday, the Institute for Supply Management-Chicago business barometer surged to a four-year high, topping forecasts, on a recovery in employment and an acceleration in new orders.
DuPont, a Dow component, gained 0.5 percent to close at US$34.05 on the New York Stock Exchange.
On the down side, Microsoft Corp, up 59.3 percent for the year, was among the biggest drags on both the Dow and the Nasdaq. The stock slipped 1.4 percent to US$30.96 on Nasdaq.
"We've had such a nice run up over the last two weeks. I think the best-case scenario is probably baked into stock prices at this point," said Angel Mata, managing director of listed equity trading at Stifel Nicolaus Capital Markets in Baltimore.
Oracle Corp, up 41 percent for 2009, was down 0.3 percent at US$24.93.
In its run higher this year, the market has been underpinned by strength in the TECHNOLOGY [] and materials sectors on expectations the economic recovery will spur capital spending and increase demand for natural resources. The S&P information technology sector is up 62 percent since the start of the year, while the S&P materials index is up 47 percent.
The Dow Jones industrial average rose 3.10 points, or 0.03 percent, to end at 10,548.51 on Wednesday. The Standard & Poor's 500 Index edged up just 0.22 of a point, or 0.02 percent, to finish at 1,126.42. The Nasdaq Composite Index gained 2.88 points, or 0.13 percent, to close at 2,291.28.
Wednesday's tiny gains followed a modest decline in Tuesday's session, when stocks snapped a six-day streak of gains.
Investors appeared unfazed by a brief evacuation of the Nasdaq Times Square, New York, offices amid an investigation of a suspicious vehicle near its building. Nasdaq said trading was not affected.
While investors looked to the data for signs a recovery is taking hold, some traders have moved to safer assets like the dollar to lock in profits after a strong 2009.
The U.S. dollar hit a three-month high against the yen on year-end flows in thin trade and the belief that the U.S. economy is on the road to recovery.
Semiconductor stocks gained after Kaufman Bros upgraded both Marvell Technology Group Ltd and Nvidia Corp to "buy," saying they could benefit from improved demand for personal computers.
The Philadelphia Semiconductor index gained 1.5 percent. Marvell added 2.8 percent to US$20.83 and Nvidia shot up 3.6 percent to US$18.67, both in Nasdaq trading. - Reuters
Written by Reuters
Thursday, 31 December 2009 07:53
NEW YORK: U.S. stocks ended a smidgen higher in very light trading on Wednesday, Dec 30 as a stronger-than-expected report on Midwest U.S. business activity was offset by investors taking profits in some of the year's better performers, according to Reuters.
Still, the Dow and the Nasdaq eked out fresh highs for the year. The Standard & Poor's benchmark index is up 25 percent for 2009, putting it on track for its best year since 2003.
Most of the advance is the result of the nine-month rally the market has seen as investors turned bullish on prospects for the economic recovery. The S&P 500 is up a whopping 66.5 percent since its March 9 closing low.
On Wednesday, the Institute for Supply Management-Chicago business barometer surged to a four-year high, topping forecasts, on a recovery in employment and an acceleration in new orders.
DuPont, a Dow component, gained 0.5 percent to close at US$34.05 on the New York Stock Exchange.
On the down side, Microsoft Corp, up 59.3 percent for the year, was among the biggest drags on both the Dow and the Nasdaq. The stock slipped 1.4 percent to US$30.96 on Nasdaq.
"We've had such a nice run up over the last two weeks. I think the best-case scenario is probably baked into stock prices at this point," said Angel Mata, managing director of listed equity trading at Stifel Nicolaus Capital Markets in Baltimore.
Oracle Corp, up 41 percent for 2009, was down 0.3 percent at US$24.93.
In its run higher this year, the market has been underpinned by strength in the TECHNOLOGY [] and materials sectors on expectations the economic recovery will spur capital spending and increase demand for natural resources. The S&P information technology sector is up 62 percent since the start of the year, while the S&P materials index is up 47 percent.
The Dow Jones industrial average rose 3.10 points, or 0.03 percent, to end at 10,548.51 on Wednesday. The Standard & Poor's 500 Index edged up just 0.22 of a point, or 0.02 percent, to finish at 1,126.42. The Nasdaq Composite Index gained 2.88 points, or 0.13 percent, to close at 2,291.28.
Wednesday's tiny gains followed a modest decline in Tuesday's session, when stocks snapped a six-day streak of gains.
Investors appeared unfazed by a brief evacuation of the Nasdaq Times Square, New York, offices amid an investigation of a suspicious vehicle near its building. Nasdaq said trading was not affected.
While investors looked to the data for signs a recovery is taking hold, some traders have moved to safer assets like the dollar to lock in profits after a strong 2009.
The U.S. dollar hit a three-month high against the yen on year-end flows in thin trade and the belief that the U.S. economy is on the road to recovery.
Semiconductor stocks gained after Kaufman Bros upgraded both Marvell Technology Group Ltd and Nvidia Corp to "buy," saying they could benefit from improved demand for personal computers.
The Philadelphia Semiconductor index gained 1.5 percent. Marvell added 2.8 percent to US$20.83 and Nvidia shot up 3.6 percent to US$18.67, both in Nasdaq trading. - Reuters
Wall St ends a tad higher; Dow, Nasdaq at '09 highs
Tags: business activity | Dollar | Wall Street
Written by Reuters
Thursday, 31 December 2009 07:53
NEW YORK: U.S. stocks ended a smidgen higher in very light trading on Wednesday, Dec 30 as a stronger-than-expected report on Midwest U.S. business activity was offset by investors taking profits in some of the year's better performers, according to Reuters.
Still, the Dow and the Nasdaq eked out fresh highs for the year. The Standard & Poor's benchmark index is up 25 percent for 2009, putting it on track for its best year since 2003.
Most of the advance is the result of the nine-month rally the market has seen as investors turned bullish on prospects for the economic recovery. The S&P 500 is up a whopping 66.5 percent since its March 9 closing low.
On Wednesday, the Institute for Supply Management-Chicago business barometer surged to a four-year high, topping forecasts, on a recovery in employment and an acceleration in new orders.
DuPont, a Dow component, gained 0.5 percent to close at US$34.05 on the New York Stock Exchange.
On the down side, Microsoft Corp, up 59.3 percent for the year, was among the biggest drags on both the Dow and the Nasdaq. The stock slipped 1.4 percent to US$30.96 on Nasdaq.
"We've had such a nice run up over the last two weeks. I think the best-case scenario is probably baked into stock prices at this point," said Angel Mata, managing director of listed equity trading at Stifel Nicolaus Capital Markets in Baltimore.
Oracle Corp, up 41 percent for 2009, was down 0.3 percent at US$24.93.
In its run higher this year, the market has been underpinned by strength in the TECHNOLOGY [] and materials sectors on expectations the economic recovery will spur capital spending and increase demand for natural resources. The S&P information technology sector is up 62 percent since the start of the year, while the S&P materials index is up 47 percent.
The Dow Jones industrial average rose 3.10 points, or 0.03 percent, to end at 10,548.51 on Wednesday. The Standard & Poor's 500 Index edged up just 0.22 of a point, or 0.02 percent, to finish at 1,126.42. The Nasdaq Composite Index gained 2.88 points, or 0.13 percent, to close at 2,291.28.
Wednesday's tiny gains followed a modest decline in Tuesday's session, when stocks snapped a six-day streak of gains.
Investors appeared unfazed by a brief evacuation of the Nasdaq Times Square, New York, offices amid an investigation of a suspicious vehicle near its building. Nasdaq said trading was not affected.
While investors looked to the data for signs a recovery is taking hold, some traders have moved to safer assets like the dollar to lock in profits after a strong 2009.
The U.S. dollar hit a three-month high against the yen on year-end flows in thin trade and the belief that the U.S. economy is on the road to recovery.
Semiconductor stocks gained after Kaufman Bros upgraded both Marvell Technology Group Ltd and Nvidia Corp to "buy," saying they could benefit from improved demand for personal computers.
The Philadelphia Semiconductor index gained 1.5 percent. Marvell added 2.8 percent to US$20.83 and Nvidia shot up 3.6 percent to US$18.67, both in Nasdaq trading. - Reuters
Written by Reuters
Thursday, 31 December 2009 07:53
NEW YORK: U.S. stocks ended a smidgen higher in very light trading on Wednesday, Dec 30 as a stronger-than-expected report on Midwest U.S. business activity was offset by investors taking profits in some of the year's better performers, according to Reuters.
Still, the Dow and the Nasdaq eked out fresh highs for the year. The Standard & Poor's benchmark index is up 25 percent for 2009, putting it on track for its best year since 2003.
Most of the advance is the result of the nine-month rally the market has seen as investors turned bullish on prospects for the economic recovery. The S&P 500 is up a whopping 66.5 percent since its March 9 closing low.
On Wednesday, the Institute for Supply Management-Chicago business barometer surged to a four-year high, topping forecasts, on a recovery in employment and an acceleration in new orders.
DuPont, a Dow component, gained 0.5 percent to close at US$34.05 on the New York Stock Exchange.
On the down side, Microsoft Corp, up 59.3 percent for the year, was among the biggest drags on both the Dow and the Nasdaq. The stock slipped 1.4 percent to US$30.96 on Nasdaq.
"We've had such a nice run up over the last two weeks. I think the best-case scenario is probably baked into stock prices at this point," said Angel Mata, managing director of listed equity trading at Stifel Nicolaus Capital Markets in Baltimore.
Oracle Corp, up 41 percent for 2009, was down 0.3 percent at US$24.93.
In its run higher this year, the market has been underpinned by strength in the TECHNOLOGY [] and materials sectors on expectations the economic recovery will spur capital spending and increase demand for natural resources. The S&P information technology sector is up 62 percent since the start of the year, while the S&P materials index is up 47 percent.
The Dow Jones industrial average rose 3.10 points, or 0.03 percent, to end at 10,548.51 on Wednesday. The Standard & Poor's 500 Index edged up just 0.22 of a point, or 0.02 percent, to finish at 1,126.42. The Nasdaq Composite Index gained 2.88 points, or 0.13 percent, to close at 2,291.28.
Wednesday's tiny gains followed a modest decline in Tuesday's session, when stocks snapped a six-day streak of gains.
Investors appeared unfazed by a brief evacuation of the Nasdaq Times Square, New York, offices amid an investigation of a suspicious vehicle near its building. Nasdaq said trading was not affected.
While investors looked to the data for signs a recovery is taking hold, some traders have moved to safer assets like the dollar to lock in profits after a strong 2009.
The U.S. dollar hit a three-month high against the yen on year-end flows in thin trade and the belief that the U.S. economy is on the road to recovery.
Semiconductor stocks gained after Kaufman Bros upgraded both Marvell Technology Group Ltd and Nvidia Corp to "buy," saying they could benefit from improved demand for personal computers.
The Philadelphia Semiconductor index gained 1.5 percent. Marvell added 2.8 percent to US$20.83 and Nvidia shot up 3.6 percent to US$18.67, both in Nasdaq trading. - Reuters
Bank Negara: 9,000 SMES benefited from RM2b SME scheme
Tags: Bank Negara Malaysia
Written by Joseph Chin
Thursday, 31 December 2009 11:54
KUALA LUMPUR: Bank Negara Malaysia said on Thursday, Dec 31 the RM2 billion SME Assistance Guarantee Scheme, launched on Feb 3, has assisted more than 9,000 SMEs from all sectors of the economy.
Under this scheme, participating financial institutions approved RM1.85 billion in financing. It added 78% of the successful applicants comprised of micro to small enterprises, while 22% comprised of medium enterprises.
"Effective Dec 31, 2009, the participating financial institutions will no longer receive new applications. Participating financial institutions will continue to assess the remaining applications that have been received by the closing date," it said.
The scheme was set up to ensure viable SMEs, adversely affected by the economic slowdown, would continue to have access to adequate financing. With continued access to financing during the difficult period, these SMEs were able to sustain their business operations and preserve employment.
The central bank said as the domestic economic conditions show further improvement and with available ample liquidity, latest indicators have shown an upward trend of business loan applications and approvals in the banking system.
"For November, business loan applications and approvals rose by 33.5% and 45.3% respectively compared with the same month last year. Viable businesses from all sectors continue to have access to financing that will support domestic economic activity," it said.
Written by Joseph Chin
Thursday, 31 December 2009 11:54
KUALA LUMPUR: Bank Negara Malaysia said on Thursday, Dec 31 the RM2 billion SME Assistance Guarantee Scheme, launched on Feb 3, has assisted more than 9,000 SMEs from all sectors of the economy.
Under this scheme, participating financial institutions approved RM1.85 billion in financing. It added 78% of the successful applicants comprised of micro to small enterprises, while 22% comprised of medium enterprises.
"Effective Dec 31, 2009, the participating financial institutions will no longer receive new applications. Participating financial institutions will continue to assess the remaining applications that have been received by the closing date," it said.
The scheme was set up to ensure viable SMEs, adversely affected by the economic slowdown, would continue to have access to adequate financing. With continued access to financing during the difficult period, these SMEs were able to sustain their business operations and preserve employment.
The central bank said as the domestic economic conditions show further improvement and with available ample liquidity, latest indicators have shown an upward trend of business loan applications and approvals in the banking system.
"For November, business loan applications and approvals rose by 33.5% and 45.3% respectively compared with the same month last year. Viable businesses from all sectors continue to have access to financing that will support domestic economic activity," it said.
Bank Negara: 9,000 SMES benefited from RM2b SME scheme
Tags: Bank Negara Malaysia
Written by Joseph Chin
Thursday, 31 December 2009 11:54
KUALA LUMPUR: Bank Negara Malaysia said on Thursday, Dec 31 the RM2 billion SME Assistance Guarantee Scheme, launched on Feb 3, has assisted more than 9,000 SMEs from all sectors of the economy.
Under this scheme, participating financial institutions approved RM1.85 billion in financing. It added 78% of the successful applicants comprised of micro to small enterprises, while 22% comprised of medium enterprises.
"Effective Dec 31, 2009, the participating financial institutions will no longer receive new applications. Participating financial institutions will continue to assess the remaining applications that have been received by the closing date," it said.
The scheme was set up to ensure viable SMEs, adversely affected by the economic slowdown, would continue to have access to adequate financing. With continued access to financing during the difficult period, these SMEs were able to sustain their business operations and preserve employment.
The central bank said as the domestic economic conditions show further improvement and with available ample liquidity, latest indicators have shown an upward trend of business loan applications and approvals in the banking system.
"For November, business loan applications and approvals rose by 33.5% and 45.3% respectively compared with the same month last year. Viable businesses from all sectors continue to have access to financing that will support domestic economic activity," it said.
Written by Joseph Chin
Thursday, 31 December 2009 11:54
KUALA LUMPUR: Bank Negara Malaysia said on Thursday, Dec 31 the RM2 billion SME Assistance Guarantee Scheme, launched on Feb 3, has assisted more than 9,000 SMEs from all sectors of the economy.
Under this scheme, participating financial institutions approved RM1.85 billion in financing. It added 78% of the successful applicants comprised of micro to small enterprises, while 22% comprised of medium enterprises.
"Effective Dec 31, 2009, the participating financial institutions will no longer receive new applications. Participating financial institutions will continue to assess the remaining applications that have been received by the closing date," it said.
The scheme was set up to ensure viable SMEs, adversely affected by the economic slowdown, would continue to have access to adequate financing. With continued access to financing during the difficult period, these SMEs were able to sustain their business operations and preserve employment.
The central bank said as the domestic economic conditions show further improvement and with available ample liquidity, latest indicators have shown an upward trend of business loan applications and approvals in the banking system.
"For November, business loan applications and approvals rose by 33.5% and 45.3% respectively compared with the same month last year. Viable businesses from all sectors continue to have access to financing that will support domestic economic activity," it said.
Blue chips off lows
Written by Joseph Chin
Thursday, 31 December 2009 13:13
KUALA LUMPUR: Blue chips were off their morning lows at the midday break on Thursday, Dec 31, with some mild buying of CIMB, Genting and DiGi, but the local bourse's performance lagged the regional markets of Hong Kong and Singapore.
The 30-stock FBM KLCI traded in a tight range of 2.3 points and at 12.30pm, it was down 0.58 of a point to 1,270.54. Turnover was 297.71 million shares valued at RM326 million. Market breadth was mixed with 234 gainers, 241 losers and 285 stocks unchanged.
Hong Kong's Hang Seng Index surged 1.8% to 21,866.32, the most since 1999, while Singapore's Straits Times Index added 0.56% to 2,895.77 while Shanghai's Composite Index added 0.35% to 3,273.86.
Light crude oil rose 27 US cents to US$79.55 while US spot gold added US$4.88 to US$1,097.78 and crude palm oil futures advanced RM46 to RM2,641.
At Bursa Malaysia, PPB fell 18 sen to RM15.82, Sime was three sen lower at RM8.95 while Public Bank shed two sen to RM11.12, dragging the index down by one point. AMMB and MISC shed three sen each to RM5 and RM8.52 while Tenaga slipped one sen to RM8.29.
However, CIMB and Genting rose six sen each to RM12.98 and RM7.39, accounting for 1.22 points of the FBM KLCI.
Nilai fell the most, skidding 23 sen to 56 sen with 5,000 shares done. Nestle lost 22 sen to RM32.78, MBMR 13 sen to RM2.45 while BHIC eased 10 sen to RM5 and KFCH nine sen to RM7.33 in thin trade.
Ho Hup lost two sen to 80.5 sen while Limahsoon plunged 4.5 sen to five sen after defaulting on a loan repayment.
Linear rose 14 sen to 72 sen with 20.2 million shares changing hands as investors snapped up the stock after the company announced that it had secured a RM1.6 billion contract to build a district cooling system in Manjung, Perak.
Rubberex rose 44 sen to RM2.43, its warrants 30 sen to 90.5 sen and its loan stocks 25 sen to RM1.36. KPJ added 18 sen to RM6.44 and Integrax 12 sen to 92 sen.
Thursday, 31 December 2009 13:13
KUALA LUMPUR: Blue chips were off their morning lows at the midday break on Thursday, Dec 31, with some mild buying of CIMB, Genting and DiGi, but the local bourse's performance lagged the regional markets of Hong Kong and Singapore.
The 30-stock FBM KLCI traded in a tight range of 2.3 points and at 12.30pm, it was down 0.58 of a point to 1,270.54. Turnover was 297.71 million shares valued at RM326 million. Market breadth was mixed with 234 gainers, 241 losers and 285 stocks unchanged.
Hong Kong's Hang Seng Index surged 1.8% to 21,866.32, the most since 1999, while Singapore's Straits Times Index added 0.56% to 2,895.77 while Shanghai's Composite Index added 0.35% to 3,273.86.
Light crude oil rose 27 US cents to US$79.55 while US spot gold added US$4.88 to US$1,097.78 and crude palm oil futures advanced RM46 to RM2,641.
At Bursa Malaysia, PPB fell 18 sen to RM15.82, Sime was three sen lower at RM8.95 while Public Bank shed two sen to RM11.12, dragging the index down by one point. AMMB and MISC shed three sen each to RM5 and RM8.52 while Tenaga slipped one sen to RM8.29.
However, CIMB and Genting rose six sen each to RM12.98 and RM7.39, accounting for 1.22 points of the FBM KLCI.
Nilai fell the most, skidding 23 sen to 56 sen with 5,000 shares done. Nestle lost 22 sen to RM32.78, MBMR 13 sen to RM2.45 while BHIC eased 10 sen to RM5 and KFCH nine sen to RM7.33 in thin trade.
Ho Hup lost two sen to 80.5 sen while Limahsoon plunged 4.5 sen to five sen after defaulting on a loan repayment.
Linear rose 14 sen to 72 sen with 20.2 million shares changing hands as investors snapped up the stock after the company announced that it had secured a RM1.6 billion contract to build a district cooling system in Manjung, Perak.
Rubberex rose 44 sen to RM2.43, its warrants 30 sen to 90.5 sen and its loan stocks 25 sen to RM1.36. KPJ added 18 sen to RM6.44 and Integrax 12 sen to 92 sen.
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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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