Thursday, 10 May 2012

Limited gains for KLCI

KUALA LUMPUR (May 10): The FBM KLCI reversed its earlier losses and closed higher on Thursday, but the gains were limited in line with the mixed regional markets still weighed by concerns the global economic outlook.

The FBM KLCI rsoe 3.16 points to close at 1,588.06. It had earlier risen to its intra-day high of 1,590.20.

Gainers edged losers by 376 to 358, while 325 counters traded unchanged. Volume was 1.4 billion shares valued at RM1.39 billion.

Asian shares were mixed, as weak Chinese trade data stoked fears of a growth slowdown, further undermining risk appetites already reduced by worries about the health of Spanish banks and deepening political chaos in Greece, according to Reuters.

At the regional markets, Hong Kong’s Hang Seng Index fell 0.51% to 20,227.28, Japan’s Nikkei 225 lost 0.39% to 9,009.65, South Korea’s Kospi was down 0.27% to 1,944.93

Meanwhile, the Shanghai Composite Index added 0.07% to 2,410.23 and Taiwan’s Taiex gained 0.11% to 7,484.01, and Singapore’s Straits Times Index edged up 0.09% to 2,903.60.

On Bursa Malaysia, United PLANTATION []s was the top gainer and added 56 sen to RM26.50, Petronas Gas up 30 sen to RM17.28, Ajinomoto 27 sen to RM4.50, Southern Acids and Aeon Credit gained 24 sen each to RM2.45 and RM11.10, Tradewinds Plantations 12 sen to RM5.89, Hup Seng and AirAsia 11 sen each to RM2.36 and RM3.65, while KrisAssets added 10 sen to RM7.10.

Focus was the most actively traded counter with 146.46 million shares done. The stock gained 1.5 sen to 16 sen.

Other actives included Utopia, Ariantec, Permaju, Naim indah Corp, ManagePay, Astral Supreme and HWGB.

Decliners included BAT, The Store, Panasonic, Tahps, KLK, Aeon, Lafarge Malayan Cement, Dutch Lady, PPB and KESM.

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