Wednesday 9 November 2011

KL shares bullish at midday

Share prices on Bursa Malaysia sustained the uptrend at midday today in line with gains on regional Asian markets and a firmer overnight Wall Street, dealers said.

The dealers also said the improved sentiment on regional markets was driven by the latest news on developments in Italy's debt crisis.

News of Italian Prime Minister Silvio Berlusconi's impending resignation lifted confidence that a new leader will act more effectively to tackle the country's debt woes.

The FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.98 points higher at 1,486.44 after opening 0.75 of a point better at 1,481.21.

The Finance Index gained 7.41 points to 13,265 and the Plantation Index slipped 6.02 points to 7,551.70 but the Industrial Index increased 13 points to 2,719.49.

The FBM Emas Index advanced 46.101 points to 10,135.74, the FBM Mid 70 Index perked 46.15 points to 10,902.86 and the FBM ACE Index advanced 18.61 points to 4,239.39.

Gainers beat losers 441 to 186 with 277 counters unchanged, 565 untraded and 19 others suspended. Turnover stood at 1.597 billion shares worth RM902.023 million.

Of the actives, Hibiscus Petroleum warrant gained seven sen to 48.5 sen, Tejari Technologies rose half a sen to nine sen, Astral Supreme rose two sen to 20 sen and Emico Holdings increased 22 sen to 42 sen.

Among heavyweights, Maybank rose one sen to RM8.23, CIMB slipped three sen to RM7.29, Sime Darby added eight sen to RM8.88 and Petronas Chemicals Group earned seven sen to RM6.48. 09/11/2011. - Bernama
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