KLCI closes higher, lifted by CIMB and select blue chips

KUALA LUMPUR (March 29): The FBM KLCI closed higher on Thursday, lifted by select blue chips including CIMB, Genting, Hong Leong Bank and BAT but the broader market was cautious.

The 30-stock index added 1.69 points to 1585.44. Gainers trailed losers by 260 to 462, while 353 counters traded unchanged. Volume was 1.50 billion shares valued at RM1.39 billion.

Asian shares fell for a second successive day on Thursday as concerns about growth prospects in the world's two largest economies, the United States and China, prompted investors to trim their risk exposure ahead of the end of the quarter, according to Reuters.

The Shanghai Composite Index fell 1.43% to 2,252.16, Hong Kong’s Hang Seng Index lost 1.32% to 20,609.39, Taiwan’s Taiex fell 2.06% to 7,872.66, South korea’s Kospi fell 0.85% to 2,014.41 while Singapore’s Straits Times index fell 0.28% to 3,007.44.

However, European stocks pared early losses and rose on Thursday, bouncing off a three-week low as rallying mining shares offset losses in the energy sector, where Total extended its slide, hit by worries over a gas leak in the North Sea, said Reuters.

On Bursa Malaysia, Warisan TC gained 20 sen to RM2.70, Aeon up 19 sen to RM9.40, BAT 18 sen to RM56.52, Hong Leong Bank 16 sen to RM12.38, Jaya Tiasa and Litrak added 15 sen each to RM8.38 and RM4.10. Toyo Ink rose 12 sen to RM1.58, WCT and Crescendo 11 sen each to RM2.50 and RM1.92, and Shell 10 sen to RM10.20.

Other gainers included CIMB that rose 10 sen to RM7.60, Genting four sen to RM11.14, Genting Malaysia two sen to RM3.89.

Decliners included Dutch lady, BLD PLANTATION []s, RHB Capital, GAB, Batu Kawan, SMPC, Bursa, United Plantations and Kossan.

The actives included Ariantec, Naim Indah Corp, Metronic, SuperComnet, Focus, Ingeuity Solutions, Key West and ManagePay.



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KLCI edges up mid-day, lifted by select blue chips

KUALA LUMPUR (March 29): The FBM KLCI edged up at the mid-day break on Thursday, lifted by select blue chips including CIMB, Genting-linked counters, Petronas Chemicals and BAT.

At 12.30pm, the KLCI was up 0.41% to 1,584.16. Gainers trailed losers by 197 to 388, while 318 counters were traded unchanged. Volume was 819.28 million shares valued at RM554.24 million.

Asian shares fell for a second successive day on Thursday as concerns about growth prospects in the world's two largest economies, the United States and China, prompted investors to trim their risk exposure ahead of the end of the quarter, according to Reuters.

Hong Kong’s Hang Seng Index lost 1.2% to 20,634.30, Taiwan’s Taiex fell 2.67% to 7,823.78, South Korea’s Kospi fell 1.06% to 2,010.26, Japan’s Nikkei 225 was down 0.82% to 10,099.30, the Shanghai Composite Index 0.58% to 2,271.60 and Singapore’s Straits Times Index 0.28% to 3,007.44.

Among the gainers on Bursa Malaysia, Dutch Lady was the top gainer, up RM2.62 to RM37.50.

BAT added 18 sen to RM56.52, Aeon 14 sen to RM9.35, Toyo Ink 14 sen to RM9.35, MISC 12 sen to RM5.32 and Shell 10 sen to RM10.20. Southern Acids, Kulim, Ta Ann and Crescesndo added nine sen each to RM2.39, RM4.30, RM6.18 and RM1.90 respectively.

CIMB rose seven sen to RM7.57, while Petronas Chemicals, Genting and Genting PLANTATION []s added two sen each to RM6.70, RM11.12 and RM3.89 respectively.

Naim Indah Corp was the most actively traded counter with 56.7 million shares done. The stock added half a sen to 48.5 sen.

Other actives included Ariantec, Focus, SuperComnet, Metronic, Key West and Iris Corp.

Among the decliners were Shangri-la, BLD Plantations, GAB, Sungei Bagan, RHB Capital, SMPC, PPB, SBC Corp and Kris Assets.



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Crescendo rises after Q3 income doubled

Crescendo Corp, a Malaysian property developer, rose the most in almost nine months in Kuala Lumpur trading after third-quarter net income more than doubled to RM21.7 million from a year earlier.

The stock gained 6.1 percent to RM1.56 at 9:04 a.m. local time, set for the steepest increase since April 1. -- Bloomberg



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