KUALA LUMPUR (Jan 9): The FBM KLCI closed higher Monday as some regional markets reversed earlier losses lifted by short-covering after mainland markets were boosted by better-than-expected economic data and comments from Chinese Premier Wen Jiabao.
Meanwhile, European shares turned negative in choppy trading on Monday, with heavyweight GlaxoSmithKline leading the healthcare sector lower after the release of a mixed batch of clinical trials results on a key new lung drug, according to Reuters.
The FBM KLCI rose 7.60 points to 1,521.73, lifted by gains at select blue chips.
Gainers beat losers by 491 to 264, while 301 counters traded unchanged. Volume was 1.64 billion shares valued at RM1.71 billion.
Wen said Beijing would improve market regulation and protect investor rights after a financial work conference over the weekend, according to Reuters
He said China must "strengthen and improve its financial supervision and effectively prevent systematic financial risks", calling on Saturday for a reduction of risks from local government debt, it said.
At the regional markets, the Shanghai Composite Index jumped 2.89% to 2,225.89 and Hong Kong’s Hang Seng Index rose 1.47% to 18,865.72, while South Korea’s Kospi shed 0.90% to 1,826.49, Taiwan’s Taiex edged down 0.39% to 7,093.04 and Singapore’s Straits Times Index slipped 0.90% to 2,691.28.
Japan stock markets are closed for a national holiday.
On Bursa Malaysia, BAT added RM1.08 to RM49.84, Dutch Lady 80 sen to RM26, Harvest Court and Genting PLANTATION []s 33 sen each to RM1.41 and RM8.90, Petronas Gas 30 sen to RM15.10, Batu Kawan 28 sen to RM18.76, Proton 26 sen to RM5.25, F&N 24 sen to RM18.74 and Can-One 23 sen to RM1.82.
KHSB was the most actively traded counter with 106.98 million shares done. The stock rose 13.5 sen to 50 sen.
Other actives included Sanichi, Nextnation, Proton, Takaso, Wijaya, XDL and JCY.
The decliners included Nestle, Lafarge Malayan Cement, BHIC, Southern Acids, JCY, Boxpak, Nadayu, Ta Ann and Genting.
Meanwhile, European shares turned negative in choppy trading on Monday, with heavyweight GlaxoSmithKline leading the healthcare sector lower after the release of a mixed batch of clinical trials results on a key new lung drug, according to Reuters.
The FBM KLCI rose 7.60 points to 1,521.73, lifted by gains at select blue chips.
Gainers beat losers by 491 to 264, while 301 counters traded unchanged. Volume was 1.64 billion shares valued at RM1.71 billion.
Wen said Beijing would improve market regulation and protect investor rights after a financial work conference over the weekend, according to Reuters
He said China must "strengthen and improve its financial supervision and effectively prevent systematic financial risks", calling on Saturday for a reduction of risks from local government debt, it said.
At the regional markets, the Shanghai Composite Index jumped 2.89% to 2,225.89 and Hong Kong’s Hang Seng Index rose 1.47% to 18,865.72, while South Korea’s Kospi shed 0.90% to 1,826.49, Taiwan’s Taiex edged down 0.39% to 7,093.04 and Singapore’s Straits Times Index slipped 0.90% to 2,691.28.
Japan stock markets are closed for a national holiday.
On Bursa Malaysia, BAT added RM1.08 to RM49.84, Dutch Lady 80 sen to RM26, Harvest Court and Genting PLANTATION []s 33 sen each to RM1.41 and RM8.90, Petronas Gas 30 sen to RM15.10, Batu Kawan 28 sen to RM18.76, Proton 26 sen to RM5.25, F&N 24 sen to RM18.74 and Can-One 23 sen to RM1.82.
KHSB was the most actively traded counter with 106.98 million shares done. The stock rose 13.5 sen to 50 sen.
Other actives included Sanichi, Nextnation, Proton, Takaso, Wijaya, XDL and JCY.
The decliners included Nestle, Lafarge Malayan Cement, BHIC, Southern Acids, JCY, Boxpak, Nadayu, Ta Ann and Genting.
