Friday 2 December 2011

Marginal gains for FBM KLCI, Proton in focus

KUALA LUMPUR: The FBM KLCI closed the morning session almost flat gaining 2.01 points to 1,487.27 on continued regional market weakness on the back of profit taking after gains in the week.

Stocks in focus include Proton Holdings Bhd which gained 29 sen to close midday at RM3.39. Proton's warrants were also up and actively traded on the local bourse. Proton-CH added 4 sen to 11 sen while Proton-CG climbed 3.5 sen to 13 sen.

Proton continued its ascent despite reporting losses in the recent quarterly net profit announcement, rumours are rife that the national car company could be taken over or merged with another entity.

Other stocks in focus include Harvest Court Industries Bhd which also surged 20 sen to RM1.10 while FBM KLCI constituents Hong Leong Financial Group Bhd rose 20 sen to RM11.78, Petronas Gas Bhd added 18 sen to RM13.50, Petronas Dagangan Bhd gained 18 sen to RM16.80.

Tenaga Nasional Bhd pared its gains made in the early trade, the national power company closed midday at RM5.69 gaining 1 sen.

Small caps dominated the actives list in the morning trade.

Regional markets were mixed with a negative bias; Singapore's STI declined 0.74% to 2,741.57, Indonesia's JCI lost 0.38% to 3,766.65, Thailand's SET was flat paring gains made in the morning at 1,019.89.

North Asian markets were more mixed with Japan's Nikkei 225 adding 0.33% to 8,625.66, Hong Kong's Hang Seng declining 0.5% to 18,909.07 and China's Shanghai Composite SE losing 1.44% to 2,352.52.



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