KUALA LUMPUR (March 1): Fund buying of Sime Darby and Petronas Chemicals provided the support for the FBM KLCI on Thursday amid a cautious market which has seen trading volume declining in recent weeks.
At the close, the KLCI was up 3.8 points or 0.24% to 1,573.45. Turnover was 1.62 billion shares valued at RM2.025 billion. However, declining stocks beat advancers 506 to 309 while 302 stocks were unchanged.
Among the key regional markets, South Korea’s Kospi was the top performer, up 1.33% to 2,030.25. Japan’s Nikkei 225 fell 1.27% to 9,707.37, Hong Kong’s Hang Seng Index lost 1.35% to 21,387.90 while Singapore’s Straits Times Index lost 0.51% to 2,978.84.
Reuters reported European shares and the euro reversed early losses on Thursday as the impact of the latest massive cash injection by the European Central Bank lifted sentiment, overwhelming fears that further U.S. monetary easing could be on hold.
Data showing new factory orders for Asia's manufacturing powerhouses perked up a bit in February, easing some concerns about the global economic slowdown, it said.
US light crude oil rose 25 cents to US$107.32 while Brent Brent crude futures prices rose 63 cents to US$123.29 a barrel.
Crude palm oil third-month futures rose RM23 to RM3,268 per tonne, spurred by positive factory data from second-largest importer China but gains were capped as export trends showed weaker demand.
At Bursa Malaysia, dealers said market sentiment was rather lacklustre with the larger funds picking up index-linked stocks while at the bottom of the spectrum, there was some unwinding of penny and lower liner stocks by traders.
Among the index-linked stocks, Sime Darby’s 24 sen gain to RM9.93 pushed the KLCI up 3.41 points while PetChem;s five sen gain to RM6.75, nudged the index up by 0.5 points,.
BAT was the top gainer, up 90 sen to RM53.10 as investors opted for dividend stocks. Panasonic Malaysia added 60 sen to RM22, Guinness Anchot 28 sen to RM13.40 and Nestle 20 sen to RM56.
Dijaya Corp jumoed 21 sen to RM1.63 while HLFG and KLK gained 14 sen each to RM12.20 and RM23.56.
Naim Indah Corp, which was in the black in the latest quarter, rose 4.5 sen to 53 sen and it was the most active with 116.22 million shares done.
There was some unwinding of positions in China Stationery, which fell 17 sen to RM1.21 with 72.72 million shares done. However, it has fared well since its listing on Feb 24 at an offer price of 95 sen.
Silver Bird lost nearly half of its value, plunging 20 sen to 20.5 sen with 26.44 million shares done. Silver Bird Group suspended its group managing director, Datuk Tan Han Kook and two other key executives effective Feb 24 as it undertakes an internal inquiry into allegations of irregularities in the company’s accounts which may amount to approximately RM111.5 million.
Dutch Lady was the top loser, down 26 sen to RM29.72 after the strong run-up. GENTING BHD []’s 14 sen decline to RM10.46, dragged the KLCI down 1.22 points.
Other losers were Fima Corp, down 15 sen to RM6.21 and RHB Cap 15 sen to RM7.80.
At the close, the KLCI was up 3.8 points or 0.24% to 1,573.45. Turnover was 1.62 billion shares valued at RM2.025 billion. However, declining stocks beat advancers 506 to 309 while 302 stocks were unchanged.
Among the key regional markets, South Korea’s Kospi was the top performer, up 1.33% to 2,030.25. Japan’s Nikkei 225 fell 1.27% to 9,707.37, Hong Kong’s Hang Seng Index lost 1.35% to 21,387.90 while Singapore’s Straits Times Index lost 0.51% to 2,978.84.
Reuters reported European shares and the euro reversed early losses on Thursday as the impact of the latest massive cash injection by the European Central Bank lifted sentiment, overwhelming fears that further U.S. monetary easing could be on hold.
Data showing new factory orders for Asia's manufacturing powerhouses perked up a bit in February, easing some concerns about the global economic slowdown, it said.
US light crude oil rose 25 cents to US$107.32 while Brent Brent crude futures prices rose 63 cents to US$123.29 a barrel.
Crude palm oil third-month futures rose RM23 to RM3,268 per tonne, spurred by positive factory data from second-largest importer China but gains were capped as export trends showed weaker demand.
At Bursa Malaysia, dealers said market sentiment was rather lacklustre with the larger funds picking up index-linked stocks while at the bottom of the spectrum, there was some unwinding of penny and lower liner stocks by traders.
Among the index-linked stocks, Sime Darby’s 24 sen gain to RM9.93 pushed the KLCI up 3.41 points while PetChem;s five sen gain to RM6.75, nudged the index up by 0.5 points,.
BAT was the top gainer, up 90 sen to RM53.10 as investors opted for dividend stocks. Panasonic Malaysia added 60 sen to RM22, Guinness Anchot 28 sen to RM13.40 and Nestle 20 sen to RM56.
Dijaya Corp jumoed 21 sen to RM1.63 while HLFG and KLK gained 14 sen each to RM12.20 and RM23.56.
Naim Indah Corp, which was in the black in the latest quarter, rose 4.5 sen to 53 sen and it was the most active with 116.22 million shares done.
There was some unwinding of positions in China Stationery, which fell 17 sen to RM1.21 with 72.72 million shares done. However, it has fared well since its listing on Feb 24 at an offer price of 95 sen.
Silver Bird lost nearly half of its value, plunging 20 sen to 20.5 sen with 26.44 million shares done. Silver Bird Group suspended its group managing director, Datuk Tan Han Kook and two other key executives effective Feb 24 as it undertakes an internal inquiry into allegations of irregularities in the company’s accounts which may amount to approximately RM111.5 million.
Dutch Lady was the top loser, down 26 sen to RM29.72 after the strong run-up. GENTING BHD []’s 14 sen decline to RM10.46, dragged the KLCI down 1.22 points.
Other losers were Fima Corp, down 15 sen to RM6.21 and RHB Cap 15 sen to RM7.80.
