Wednesday 9 November 2011

KL shares bullish at midmorning

Share prices on Bursa Malaysia continued the uptrend at midmorning 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.

As at 11.22 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 6.27 points higher at 1,486.73 after opening 0.75 of a point better at 1,481.21.

The Finance Index gained 24.18 points to 13,281.77, the Plantation Index rose 2.57 points to 7,560.29 and the Industrial Index increased 19.05 points to 2,725.54.

The FBM Emas Index advanced 44.971 points to 10,134.61, the FBM Mid 70 Index perked 42.38 points to 10,899.09 and the FBM ACE Index advanced 19.51 points to 4,240.29.

Gainers beat losers 387 to 170 with 274 counters unchanged, 638 untraded and 19 others suspended. Turnover stood at 1.085 billion shares worth RM636.8 million.

Of the actives, Hibicus Petroleum warrant gained nine sen to 50.5 sen, Tejari Technologies rose one sen to 9.5 sen, Hibiscus Petroleum gained 2.5 sen to 79 sen and Sanichi Technology rose 1.5 sen to 10.5 sen.

Among heavyweights, Maybank rose three sen to RM8.25, CIMB slipped one sen to RM7.31, Sime Darby added nine sen to RM8.89 and Petronas Chemicals Group earned seven sen to RM6.48. - Bernama
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