Thursday 29 December 2011

KLCI regains lost ground as bargain hunting picks up

KUALA LUMPUR (Dec 29): The FBM KLCI regained some lost ground at the mid-day break on Thursday on bargain-hunting activities, in line with the slight recovery at most regional markets.

At 12.30pm, the FBM KLCI rose 5.54 points to 1,509.65, lifted by gains including at banking and select blue chips. Gainers overtook losers by 369 to 213, while 304 counters traded unchanged. Volume was 891.7 million shares valued at RM511.81 million.

The ringgit fell 0.34% to 3.1770 versus the US dollar; crude palm oil futures for the third month delivery fell RM13 per tonne to RM3,172, crude oil gained six cents to US$99.42 while gold rose US$1/22 an ounce to US$1,556,65.

At the regional markets, the Shanghai Composite Index rose 0.33% to 2,177.23, Singapore’s Straits Times Index gained 0.14% to 2,669.99, South Korea’s Kospi was up 0.11% to 1,827.04 and Taiwan’s Taiex added 0.10% to 7,063.48.

Meanwhile, Hong Kong’s Hang Seng Index was down 0.91% to 18,349.90 and Japan’s Nikkei 225 shed 0.58% to 8,374.76.

On Bursa Malaysia, KLK rose 52 sen to RM23.10, Petronas Gas added 50 sen to RM15.60, BAT 30 sen to RM49.50, Petronas Dagangan 18 sen to RM17.38, MPI and Cocoaland 15 sen each to RM2.85 and RM2.15, Faber 13 sen to RM1.60 and Integra 12 sen to RM1.37.

Among the banking stocks, RHB Capital rose 16 sen to RM7.29, Hong Leong Bank eight sen to RM10.92, CIMB seven sen to RM7.17, Public Bank up four sen to RM13.16, AFG three sen to RM3.89, while HLFG and Affin added two sen to RM11.70 and RM3.05.

Utopia was the most actively traded stock with 119.92 million shares traded. The counter fell half a sen to 7 sen.

Other actives included Sanichi, KNM, JCY, Flonic and Sumatec.

Decliners this morning included Nestle, Southern Acids, Tasek, Fiamma, UMW, Y&G, APFT, Teck Guan and MAHB.



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