Wednesday, 18 April 2012

Positive external vibes prop KLCI higher, but index stays shy of 1,600-mark

KUALA LUMPUR (April 18): The FBM KLCI closed higher on Wednesday, in line with the firmer performance at key regional markets, which saw Japan’s Nikkei 225 rising 2%, but the local benchmark index stayed shy of the 1,600 point level.

Japan's Nikkei index rallied 2.1 percent on Wednesday on robust U.S. corporate earnings, firm demand for Spanish debt and an upbeat German economic sentiment survey, with signals that the Bank of Japan may take more easing steps also providing momentum, according to Reuters.

Mewnwhile, China shares also ended up 2% on Wednesday, the biggest one-day percentage rise in more than two months, led by finance and property sectors on expectations the government would ease monetary policy, it said.

The FBM KLCI was up 2.67 points to close at 1,598.86.

Gainers edged losers by 394 to 350, while 337 counters traded unchanged. Volume was 2.13 billion shares valued at RM1.62 billion.

At the regional markets, Jpan’s Nikkei 225 rose 2.14% to 9.667.26, the Shanghai Composite Inde gained 1.96% to 2,380.85, Hong Kong’s Hang Seng Index was up 1.06% to 20,780.73, South Korea’s Kospi added 0.97% to 2,004.53, Taiwan’s Taiex edged up 0.25% to 7,605.00 and Singapore’s Straits Times Index

Among the gainers on Bursa Malaysia, BAT rose 74 sen to RM55.20, United PLANTATION []s up 40 sen to RM25, Dutch Lady 38 sen to RM34.98, Subur Tiasa 26 sen to RM3.08, Carlsberg 24 sen to RM11.28, SAM Engineering and Can-One 20 sen each to RM3.79 and RM2m, while KESM and Hong Leong Industries added 18 sen each to RM2.18 and RM4.29.

Metronic was the most actively traded counter with 362.76 million shares done. The stock added two sen to 19.5 sen.

Other actives included Ariantec, SuperComNet, Focus, Naim Indah Corp, Sanichi, DVM, CSL, Asral Supreme and Tiger Synergy.

Decliners included Tradewinds, Tan Chong, KLK, Genting, Far East, PMB Tech, Aeon Credit and Tradewinds Plantations.

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