Friday, 11 May 2012

KLCI edges up, blue chips lead

KUALA LUMPUR (May 11): The FBM KLCI edged up marginally in early trade on Friday, lifted by gains at select blue chips.

The benchmark index added 0.29 of a point to 1,588.35 at 9am.

Gainers led losers by 24 to 15, while 32 counters traded unchanged. Volume was 4.5 million shares valued at RM3.25 million.

Meanwhile, Asian shares retreated on Friday, spooked by JPMorgan's $2 billion huge loss from a failed hedging strategy, with investors warily watching political turmoil in the euro zone as they await new Chinese data for clues on its growth outlook, according to Reuters.

Among the early gainers on Bursa Malaysia were KLK, Multico, Petronas Chemicals, UMW, ECB, PPB, Maybank, IOI Corp, Petronas Gas and Aeon Credit.

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