KUALA LUMPUR (Feb 13): Blue chips closed higher in late trade on Monday, nudged up by gains in GENTING BHD [], Tenaga and PLANTATION [] stocks, in line with the firmer regional markets and European bourses after Greece voted in favour of the austerity bill.
The KLCI was in the red most of the day and managed to rebound towards the last half-hour of trade. It closed 1.16 points or 0.07% higher at 1,562.82. Turnover was 2.66 billion shares valued at RM2.12 billion. There were 364 gainers, 517 losers and 321 stocks unchanged.
Greece approved the deeply unpopular austerity bill to help secure a second bailout, even as riots in central Athens and violence across the country raised doubts about implementation of the approved spending cuts, Reuters reported.
Asian markets posted modest gains on the news, extending their bright start to the year. However, turnover declined from last week, suggesting that some players were cautious about chasing the rally further.
Japan’s Nikkei 225 rose 0.58% to 8,999.18, Hong Kong’s Hang Seng Index added 0.5% to 20,887.40, Taiwan’s Taiex 0.64% to 7,912.91, South Korea’s Kospi 0.6% to 2,005.74 and Singapore’s Straits Times Index 0.54% to 2,975.98. Shanghai’s Composite Index was flat at 2,351.85.
US light crude oil rose US$1.18 to US$99.85. The ringgit strengthened 0.0069 to 3.0248 against the US dollar.
At Bursa Malaysia, with Monday being the T+3 settlement day after the huge volume on Wednesday, saw some mild selling pressure in lower liners and penny stocks. The broader market weakened somewhat with profit taking picking up pace.
Genting Bhd rose 20 sen to RM10.50 and Tenaga eight sen to RM6.19, adding 2.77 points to the KLCI. BAT was the top gainer, up RM1.20 to RM51.50.
Plantations were given a boost with third-month delivery up RM38 to RM3,168 per tonne. United Plantations added 50 sen to RM22.50, KLK 50 sen also to RM25.98 and BLD Plantations 41 sen to RM10.08.
Compugates was the most active with 272.28 million shares done, up one sen to 13 sen. Talk of a corporate exercise saw Time adding 5.5 sen to 40.5 sen. Hopes of higher offer price saw Tebrau Teguh adding 2.5 sen to 91.5 sen.
Naim Indah Corp fell 11 sen to 56 sen with 196.26 million units done. The share price had surged from 9.0 sen on Feb 2 on expectations of a corporate exercise. It resumed trading on Monday after announcing last Friday it proposed to acquire 60% in Sagajuta (Sabah) Sdn Bhd for an indicative price of RM240 million from Generasi Cipta Sdn Bhd.
Petronas Dagangan fell 18 sen to RM18.78, GBH 17 sen to RM1.09 and Ekovest 16 sen to RM2.77. DRB-Hicom eased 11 sen to RM2.87.
The KLCI was in the red most of the day and managed to rebound towards the last half-hour of trade. It closed 1.16 points or 0.07% higher at 1,562.82. Turnover was 2.66 billion shares valued at RM2.12 billion. There were 364 gainers, 517 losers and 321 stocks unchanged.
Greece approved the deeply unpopular austerity bill to help secure a second bailout, even as riots in central Athens and violence across the country raised doubts about implementation of the approved spending cuts, Reuters reported.
Asian markets posted modest gains on the news, extending their bright start to the year. However, turnover declined from last week, suggesting that some players were cautious about chasing the rally further.
Japan’s Nikkei 225 rose 0.58% to 8,999.18, Hong Kong’s Hang Seng Index added 0.5% to 20,887.40, Taiwan’s Taiex 0.64% to 7,912.91, South Korea’s Kospi 0.6% to 2,005.74 and Singapore’s Straits Times Index 0.54% to 2,975.98. Shanghai’s Composite Index was flat at 2,351.85.
US light crude oil rose US$1.18 to US$99.85. The ringgit strengthened 0.0069 to 3.0248 against the US dollar.
At Bursa Malaysia, with Monday being the T+3 settlement day after the huge volume on Wednesday, saw some mild selling pressure in lower liners and penny stocks. The broader market weakened somewhat with profit taking picking up pace.
Genting Bhd rose 20 sen to RM10.50 and Tenaga eight sen to RM6.19, adding 2.77 points to the KLCI. BAT was the top gainer, up RM1.20 to RM51.50.
Plantations were given a boost with third-month delivery up RM38 to RM3,168 per tonne. United Plantations added 50 sen to RM22.50, KLK 50 sen also to RM25.98 and BLD Plantations 41 sen to RM10.08.
Compugates was the most active with 272.28 million shares done, up one sen to 13 sen. Talk of a corporate exercise saw Time adding 5.5 sen to 40.5 sen. Hopes of higher offer price saw Tebrau Teguh adding 2.5 sen to 91.5 sen.
Naim Indah Corp fell 11 sen to 56 sen with 196.26 million units done. The share price had surged from 9.0 sen on Feb 2 on expectations of a corporate exercise. It resumed trading on Monday after announcing last Friday it proposed to acquire 60% in Sagajuta (Sabah) Sdn Bhd for an indicative price of RM240 million from Generasi Cipta Sdn Bhd.
Petronas Dagangan fell 18 sen to RM18.78, GBH 17 sen to RM1.09 and Ekovest 16 sen to RM2.77. DRB-Hicom eased 11 sen to RM2.87.
