Wednesday, 2 May 2012

KLCI rises 0.7% on positive external factors

KUALA LUMPUR (May 2): The FBM KLCI rose more than 0.7% on Wednesday, advancing in line with the firm gains at key regional markets following positive data coming out from the US.

Asian shares rose and the dollar recovered against the yen on Wednesday after strong U.S. factory activity data raised hopes that the world's biggest economy remained on a recovery track while growth in Asian manufacturing improved broader sentiment, according to Reuters.

European shares were expected to open mixed, with most exchanges reopening after the May Day holiday on Tuesday. Financial spreadbetters predicted that major European markets, it said.

The FBM KLCI rose 0.75% to close 11.78 points higher at 1,582.39 on Wednesday, lifted by gains including at Genting-related counters.

Gainers beat losers by 458 to 281, while 288 counters traded unchanged. Volume was 1.33 billion shares valued at RM1.43 billion.

At the regional markets, the Shanghai Composite Index rose 1.76% to 2,438.44, Hong Kong’ Hang Seng Index added 1.02% to 21,309.08, Taiwan’s Taiex Jumped 2.33% to 7,676.81, South Korea’s Kospi gained 0.86% to 1,999.07, Japan’s Nikkei 225 was up 0.31% to 9,380.25 and Singapore’s Straits Times Index rose

On Bursa Malaysia, Genting was the top gainer and rose 32 sen to RM10.66, Aeon Credit added 30 sen to RM11, Aeon was up 29 sen to RM9.80, Orient 25 sen to RM6.67, Takaful 21 sen to RM4.17, Metrod,Tasek and Genting PLANTATION []s added 20 sen each to RM2, RM8.87 and RM9.60 respectively, Cybertowers 19. 5 sen to RM1.16 while Lafarge Malayan Cement was up 19 sen to RM7.38.

Naim Indah Corp was the most actively traded counter with 84.41 million shares done. The stock was up six sen to 51.5 sen.

Other actives included Utopia, Ariantec, Metronic, Astral Supreme, BIMB, AWC and Hubline.

Decliners included BAT, Shell, BLD Plantations, Y&G, Top Glove, Cepco, Milux MISC and JT International.

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