Monday 30 January 2012

KLCI stays above 1,520-level at mid-day, but caution reigns

KUALA LUMPUR (Jan 30): The FBM KLCI stayed about the 1,520 level at the mid-day break on Monday, but investor sentiment remained generally cautious in line with regional markets that inched down.

Markets are cautiously tuned in to a likely debt swap deal for Greece that is crucial to avoiding a messy default and eyed yet another European summit meeting, according to Reuters.

The FBM KLCI was up 0.25 of a point to 1,521.16 at the mid-day break.

Gainers led losers by 427 to 287, while 308 counters traded unchanged. Volume was 1.28 billion shares valued at RM769.76 million.

The ringgit weakened 0.02% to 3.0435 versus the US dollar; crude palm oil futures for the third month delivery fell RM17 per tonne to RM3,118, crude oil lost 44 cents per barrel to US$99.12, while gold fell US$6.52 an ounce to US$1,732.55.

At the regional markets, Japan’s Nikkei 225 was down 0.47% to 8,799.60, Hong Kong’s Hang Seng Index fell 0.49% to 20,401.30, the Shanghai Composite Index shed 0.32% to 2,311.70, South Korea’s Kospi fell 0.98% to 1,945.48, and Singapore’s Straits Times Index was down 0.57% to 2,899.68 while Taiwan’s Taiex jumped 2.35% to 7,403.47.

On Bursa Malaysia, Glenealy rose 58 sen to RM7.13, Hartalega up 30 sen to RM7.20, GFB 25 sen to RM1.46, Batu Kawan 22 sen to RM19.22, Tradewinds PLANTATION []s 20 sen to RM4.88, TDM, Sarawak Plantations and Puncak Niaga up 19 sen each to RM4.55, RM3.02 and RM1.49 respectively, Dutch Lady 18 sen to RM25.80 and Boustead 17 sen to RM3.59.

DBE Gurney was the most actively trade counter with 58.1 million shares traded. The stock rose half a sen to 14 sen.

Other actives included DRB-Hicom, TMS, Pos Malaysia warrants, Compugates, RedTone and Utopia.

Shipping-related counters were among the major losers this morning, with Maybulk down 31 sen to RM2.34, Bumi Armada down 12 sen to RM3.88 and MISC three sen to RM5.93.

Other decliners included Tasek, KLK, Amway, Parkson, Genting and Berjaya Sports Toto.



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