2013年12月10日星期二

KL shares continue to rally

KUALA LUMPUR: Shares on Bursa Malaysia continued its rally to opened higher in early trading Wednesday, with buying interest seen in bluechips, dealers said.

At 9.03, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.36 points to 1,845.21, despite opening 0.94 points lower at 1,842.91.

Contributing 1.786 point, the uptrend in the local market was despite the downtrend posted on the overnight Wall Street, with US' major equity indices slightly backing down by 0.2-0.3 per cent.

"We think investors could be taking a step back into a more cautious stance as the Federal Reserve's policy meeting draws nearer.

"This also weighs in the fact that stock markets have been performing well over the past two months. Year-to-date, the three major indices in the US have increased by 22-35 per cent," HwangDBS Vickers Research said.

The research house said among the stocks that might be in the limelight today are Destini after it secured a RM46.3 million three-year contract from the Defence Ministry to supply defence equipment.

It also included Berjaya Corp as the local media has reported that the Sultan of Johor, Sultan Ibrahim Ismail Sultan Iskandar, has entered into an agreement to buy 20 per cent stake in Berjaya Times Square Mall Sdn Bhd, a unit of Berjaya Assets Bhd.

Contributing 1.786 points to the rise of composite index, Petronas Gas' share perked 50 sen to RM23.00, with 4,000 lots transacted.

On the scoreboard, the Industrial Index edged up 16.7 points to 3,124.22, while the Finance Index lost 22.85 points to 16,869.09 and the Plantation Index fell 11.32 points to 9,064.85.

The FBM Emas Index gained 5.85 points to 12,737.57, the FBMT100 Index added 6.14 points to 12,470.15, the FBM Ace advanced 25.21 points to 5,649.07 but the FBM 70 slipped 5.61 points to 14,157.92.

Gainers led losers 87 to 56, with 111 counters unchanged, 1,308 untraded and 19 others suspended. 

Turnover stood at 41.162 million shares worth RM21.3 million.

Among actives, Sumatec was flat at 29.5 sen, but Karambunai shed half-a-sen to seven sen and KNM Group slipped one sen to 40.5 sen.

As for the heavyweights, TNB rose six sen to RM11.08, while Maybank, Sime Darby and Axiata Group were all flat at RM10.00, RM9.64 and RM6.74, respectively.

However, CIMB lost four sen to RM7.66

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