KUALA LUMPUR (March 2): Key regional markets, especially China and Hong Kong rallied in the morning session on Friday while at Bursa Malaysia, the FBM KLCI cast its eyes on the all-time high of 1,594 on July 8, 2011.
The ringgit broke past the crucial 3.000 level against the US dollar to reach 2.9935 in the morning and it was at 3.0002 at midday.
At 12.30pm, the FBM KLCI was up 11.34 points or 0.72% to 1,584.79 – which was just 10 points of the all-time high of 1,594.74. Turnover was 824.36 million shares valued at RM843.70 million. Gainers beat losers 422 to 246 while 322 stocks were unchanged.
Markets rose following the inflow of cheap European Central Bank funds this week which had eased fears of a meltdown in the euro zone financial sector, overriding some weak data and concerns about surging oil prices, Reuters said.
The ECB's half a trillion euros in cheap, 3-year loans added to the banking system this week underpinned markets, driving down bond yields of highly-indebted euro zone governments, such as Italy, on Thursday.
US light crude oil fell 40 cents to US$108.44. Crude palm oil futures fell RM17 to RM3,263.
Japan’s Nikkei 225 rose 0.67% to 9,772.60, Hong Kong’s Hang Seng Index added 0.97% to 21,595.90, Shanghai’s Composite Index 0.93% to 2,448.66 and Singapore’s Straits Times Index 0.47% to 2,992.95.
At Bursa Malaysia, the gains on blue chips were led by CIMB, Sime Darby and Petronas Chemicals, which helped underpin the overall market sentiment and gave a boost to the smaller cap stocks and lower liners.
CIMB rose 17 sen to RM7.34, pushing the KLCI up 2.99 points to RM7.34 while Sime Darby’s gains of 17 sen to RM10.10 pushed the index up another 2.41 points. PetChem and Genting added 14 sen each to RM6.89 and RM10.60.
The top gainer was Panasonic Malaysia, up 80 sen to RM22.80. BAT added 40 sen to RM53.50 and Oriental Holdings 16 sen to RM6.35.
Perwaja-WA jumped 28 sen to 28.5 sen with 17.14 million units done.
Naim Indah Corp was the most active with 42.33 million shares done, unhinge dat 53 sen.
Silver Bird inched up one sen to 21.5 sen with 28.61 million shares transacted after the sell-down pushed the share price down by 50%.
Dutch Lady fell the most, down 50 sen to RM29.22 but with only 6,800 shares done. PPB lost 30 sen to RM16.98, Hartalega 17 sen to RM8.15 and Petronas Gas six sen to RM16.84.
The ringgit broke past the crucial 3.000 level against the US dollar to reach 2.9935 in the morning and it was at 3.0002 at midday.
At 12.30pm, the FBM KLCI was up 11.34 points or 0.72% to 1,584.79 – which was just 10 points of the all-time high of 1,594.74. Turnover was 824.36 million shares valued at RM843.70 million. Gainers beat losers 422 to 246 while 322 stocks were unchanged.
Markets rose following the inflow of cheap European Central Bank funds this week which had eased fears of a meltdown in the euro zone financial sector, overriding some weak data and concerns about surging oil prices, Reuters said.
The ECB's half a trillion euros in cheap, 3-year loans added to the banking system this week underpinned markets, driving down bond yields of highly-indebted euro zone governments, such as Italy, on Thursday.
US light crude oil fell 40 cents to US$108.44. Crude palm oil futures fell RM17 to RM3,263.
Japan’s Nikkei 225 rose 0.67% to 9,772.60, Hong Kong’s Hang Seng Index added 0.97% to 21,595.90, Shanghai’s Composite Index 0.93% to 2,448.66 and Singapore’s Straits Times Index 0.47% to 2,992.95.
At Bursa Malaysia, the gains on blue chips were led by CIMB, Sime Darby and Petronas Chemicals, which helped underpin the overall market sentiment and gave a boost to the smaller cap stocks and lower liners.
CIMB rose 17 sen to RM7.34, pushing the KLCI up 2.99 points to RM7.34 while Sime Darby’s gains of 17 sen to RM10.10 pushed the index up another 2.41 points. PetChem and Genting added 14 sen each to RM6.89 and RM10.60.
The top gainer was Panasonic Malaysia, up 80 sen to RM22.80. BAT added 40 sen to RM53.50 and Oriental Holdings 16 sen to RM6.35.
Perwaja-WA jumped 28 sen to 28.5 sen with 17.14 million units done.
Naim Indah Corp was the most active with 42.33 million shares done, unhinge dat 53 sen.
Silver Bird inched up one sen to 21.5 sen with 28.61 million shares transacted after the sell-down pushed the share price down by 50%.
Dutch Lady fell the most, down 50 sen to RM29.22 but with only 6,800 shares done. PPB lost 30 sen to RM16.98, Hartalega 17 sen to RM8.15 and Petronas Gas six sen to RM16.84.
