KUALA LUMPUR (Feb 27): Blue chips were higher at midday on Monday, buoyed by CIMB and Telekom but the broader market was mixed as investors’ sentiment was cautious about the impact of higher oil prices on the global economy.
The FBM KLCI rose 2.66 points to 1,561.43. Turnover was 851.34 million shares valued at RM730.13 million. There were 340 gainers, 330 losers and 310 stocks unchanged.
Brent crude eased slightly but stayed around 10-month highs above US$125 per barrel amid escalating tension over Iran's disputed nuclear programme, according to Reuters. Investors concerns were whether it could break through US$130.
US light crude oil fell 40 cents to US$109.37. Crude palm oil prices for third-month delivery rose RM20 to RM3,296 per tonne. The ringgit weakened against the US dollar to 3.0162.
Key regional markets which fell included Japan’s Nikkei 225, South Korea’s Kospi and Singapore’s Straits Times – three countries which are heavily dependent on imported crude oil.
At Bursa Malaysia, Dutch Lady rose RM1.70 to RM27.50 and Carlsberg 35 sen to RM9.80 while Guinness Anchor added 16 sen to RM9.10. Among PLANTATION []s, Batu Kawan added 24 sen to RM18.80 and Chin Tek 15 sen to RM9.10.
CIMB added eight sen to RM7.14, pushing up the KLCI by 1.41 points, Telekom added seven sen to RM5.15, nudging the KLCI up 0.59 of a point while AMMB’s six sen gain to RM6.09 pushed the index up by 0.42 of a point. RHB Capital rose 22 sen to RM7.88.
Naim Indah Corp was the most active with 99.48 million shares done, It added 3.5 sen to 55 sen. China Stationery rose 10 sen to RM1.20.
MBM Resources was the top loser, down 20 sen to RM4.42 on profit taking and also concerns about earnings per share dilution from its proposed rights issue.
BAT, SOP and MAHB lost 10 sen each to RM52.46, RM6.15 and RM5.70 respectively. Latexx fell 12 sen to RM1.56 and the warrants 10 sen to RM1.18.
The FBM KLCI rose 2.66 points to 1,561.43. Turnover was 851.34 million shares valued at RM730.13 million. There were 340 gainers, 330 losers and 310 stocks unchanged.
Brent crude eased slightly but stayed around 10-month highs above US$125 per barrel amid escalating tension over Iran's disputed nuclear programme, according to Reuters. Investors concerns were whether it could break through US$130.
US light crude oil fell 40 cents to US$109.37. Crude palm oil prices for third-month delivery rose RM20 to RM3,296 per tonne. The ringgit weakened against the US dollar to 3.0162.
Key regional markets which fell included Japan’s Nikkei 225, South Korea’s Kospi and Singapore’s Straits Times – three countries which are heavily dependent on imported crude oil.
At Bursa Malaysia, Dutch Lady rose RM1.70 to RM27.50 and Carlsberg 35 sen to RM9.80 while Guinness Anchor added 16 sen to RM9.10. Among PLANTATION []s, Batu Kawan added 24 sen to RM18.80 and Chin Tek 15 sen to RM9.10.
CIMB added eight sen to RM7.14, pushing up the KLCI by 1.41 points, Telekom added seven sen to RM5.15, nudging the KLCI up 0.59 of a point while AMMB’s six sen gain to RM6.09 pushed the index up by 0.42 of a point. RHB Capital rose 22 sen to RM7.88.
Naim Indah Corp was the most active with 99.48 million shares done, It added 3.5 sen to 55 sen. China Stationery rose 10 sen to RM1.20.
MBM Resources was the top loser, down 20 sen to RM4.42 on profit taking and also concerns about earnings per share dilution from its proposed rights issue.
BAT, SOP and MAHB lost 10 sen each to RM52.46, RM6.15 and RM5.70 respectively. Latexx fell 12 sen to RM1.56 and the warrants 10 sen to RM1.18.
