KUALA LUMPUR (Feb 9): Fund buying of Axiata and banks pushed the FBM KLCI up more than five points in the morning session on Thursday amid some profit taking while the overall market was mixed.
At 12.30pm, the KLCI was up 5.04 points to 1,558.22. Turnover was 1.89 billion shares valued at RM1.29 billion. Losers led gainers 474 to 324 while 303 counters were unchanged.
Key regional markets were mixed on profit taking while uncertainty on the terms of a 130 billion euro (US$172 billion) rescue package for Greece held the buying in check. Euro area finance ministers are scheduled to meet Thursday.
US light crude oil rose 19 cents to US$98.90 per barrel. Crude palm oil price inched up RM2 to RM3,151 per tonne.
Market sentiment should be firmer in the afternoon session after the Statistics Department announced that December’s industrial production index (IPI) increased by 3.0% on-year, underpinned by the stronger manufacturing sector and electricity output.
The IPI increased 3.5% month-on-month in December 2011 while the IPI in November 2011 was revised to 2.4% year-on-year. As for the whole year of 2011, the IPI increased 1.4% from 2010.
The major index movers were Axiata, up 16 sen to RM4.94, pushing the KLCI up 3.20 points. CIMB added six sen to RM7.17, Maybank four sen to RM8.45, AMMB seven sen to RM6.03 and RHB Capital 12 sen to RM7.12.
Carlsberg was the top gainer, up 27 sen to RM9.58.
WCT added 13 sen to RM2.71 after it secured a RM300.52 million contract for the headquarters of the Ministry of International Trade and Industry from Putrajaya Management Sdn Bhd.
Naim Indah Corporation continued its rally to as 11-year high of 67.5 sen, up 18.5 sen with 257.9 million shares done as speculators hoped for a turnaround with the entry of new shareholders.
Among the six new shareholders include Datuk Raymond Chan Boon Siew. Chan, a major shareholder and executive director of HARVEST COURT INDUSTRIES BHD [], will hold the largest stake of 12.11% or 85 million shares. Chan is also the managing director of Sagajuta (Sabah) Sdn Bhd, a property developer.
Tenaga, which staged a surge on Wednesday, slipped eight sen to RM6.30 and dragged the KLCI by 1.02 points. IOI Corp fell four sen to RM5.43, Hong Leong Bank eight sen to RM11.52.
Far East fell 30 sen to RM7 in thin trade, Aeon 20 and United PLANTATION []s 20 sen each to RM7.80 and RM21.60 and Maybulk 18 sen to RM2.01.
At 12.30pm, the KLCI was up 5.04 points to 1,558.22. Turnover was 1.89 billion shares valued at RM1.29 billion. Losers led gainers 474 to 324 while 303 counters were unchanged.
Key regional markets were mixed on profit taking while uncertainty on the terms of a 130 billion euro (US$172 billion) rescue package for Greece held the buying in check. Euro area finance ministers are scheduled to meet Thursday.
US light crude oil rose 19 cents to US$98.90 per barrel. Crude palm oil price inched up RM2 to RM3,151 per tonne.
Market sentiment should be firmer in the afternoon session after the Statistics Department announced that December’s industrial production index (IPI) increased by 3.0% on-year, underpinned by the stronger manufacturing sector and electricity output.
The IPI increased 3.5% month-on-month in December 2011 while the IPI in November 2011 was revised to 2.4% year-on-year. As for the whole year of 2011, the IPI increased 1.4% from 2010.
The major index movers were Axiata, up 16 sen to RM4.94, pushing the KLCI up 3.20 points. CIMB added six sen to RM7.17, Maybank four sen to RM8.45, AMMB seven sen to RM6.03 and RHB Capital 12 sen to RM7.12.
Carlsberg was the top gainer, up 27 sen to RM9.58.
WCT added 13 sen to RM2.71 after it secured a RM300.52 million contract for the headquarters of the Ministry of International Trade and Industry from Putrajaya Management Sdn Bhd.
Naim Indah Corporation continued its rally to as 11-year high of 67.5 sen, up 18.5 sen with 257.9 million shares done as speculators hoped for a turnaround with the entry of new shareholders.
Among the six new shareholders include Datuk Raymond Chan Boon Siew. Chan, a major shareholder and executive director of HARVEST COURT INDUSTRIES BHD [], will hold the largest stake of 12.11% or 85 million shares. Chan is also the managing director of Sagajuta (Sabah) Sdn Bhd, a property developer.
Tenaga, which staged a surge on Wednesday, slipped eight sen to RM6.30 and dragged the KLCI by 1.02 points. IOI Corp fell four sen to RM5.43, Hong Leong Bank eight sen to RM11.52.
Far East fell 30 sen to RM7 in thin trade, Aeon 20 and United PLANTATION []s 20 sen each to RM7.80 and RM21.60 and Maybulk 18 sen to RM2.01.
