Late buying pushes KLCI firmly into positive zone

KUALA LUMPUR: Late buying on index-linked stocks pushed the FBM KLCI firmly into the positive zone on Monday while the broader market saw some profit taking activities on recent gainers, which was in line with some key regional markets.

The surprise stimulus move in China and signs Greece would secure a long-awaited bailout deal helped underpin sentiment for blue chips.

At 5pm, the FBM KLCI was up 3.42 points or 0.22% to close at 1,560.57, nudged up gains in by Maybank and BAT. Volume was 1.86 billion shares traded valued at RM1.61 billion. Losers led gainers 469 to 349, while 339 counters remained unchanged.

Japan's Nikkei 225 was up 1.08% to 9,485.09, Taiwan's Taeix rose 0.77% to 7,954.82, Singapore's Straits Index 0.69% to 3,021.19, Shanghai's Composite Index 0.27% to 2,363.60 and South Korea's Kospi up marginally 0.07% to 2,024.90. Only Hong Kong's Hang Seng Index was in the red, down 0.31% to 21,424.79.

At Bursa Malaysia, the KLCI was supported by gains in Maybank, which rose five sen to RM8.61 and managed to nudge the 30-stock KLCI up 0.89 of a point. BAT added RM1.38 to RM53.90, adding 0.62 of a point to the index.

Other gainers were Nestle, up 90 sen to RM56.00, Oriental Holdings 30 sen to RM5.65, Aeon 29 sen to RM7.99 and Panasonic Malaysia 22 sen to RM20.42.

Among the lower liners, Cyberpark rose 19 sen to RM2.07 on the positive outlook for its integrated renewable energy plant in Negeri Sembilan to be launched next month.

Cybertowers added 18.5 sen to 76 sen. Before market close, Bursa Malaysia Securities had queried Cybertowers over the unusual market activity in the trading of the company’s shares.

Green Ocean, which closed up 2.5 sen to 25 sen with 58.8 million shares traded, was earlier queried by Bursa Securities for its sharp rise in price and volume.

Among top losers were TAHPS down 20 sen to RM4.50, Ewein 18.5 sen to 80.5 sen while BLD PLANTATION []s and Tasek fell 17 sen each to RM9.83 and RM8.30 respectively.



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Key markets up on Greece optimism, China policy

KUALA LUMPUR: Key regional markets including Bursa Malaysia rose on Monday as investors’ risk appetite improved after China's easing policy and confidence that Greece would secure its second bailout.

At midday, the FBM KLCI was up 3.94 points or 0.25% to 1,561.09. Volume traded was 991.2 million shares valued at RM687.6 million. Gainers beat losers 372 to 307 while 348 counters remained unchanged.

Japan's Nikkei 225 rose 0.92% to 9,470.72, Shanghai's Composite Index 0.88% to 2,377.96, Taiwan's Taeix Index 0.73% to 7,952.32, Hong Kong's Hang Seng Index 0.68% to 21,638.05, Singapore's Straits Index 0.40% to 3,012.74 and South Korea's Kospi 0.17% to 2,026.96.

US light crude oil rose US$1.72 to US$104.96 per barrel and Brent crude US$1.51 higher to US$121.09 while the ringgit strengthened to 3.0027 against the US dollar.

At Bursa Malaysia, the top gainers included Aeon, up 38 sen to RM8.08, Oriental Holdings 30 sen to RM5.65 and Cypark up 19 sen to RM2.07.

Maybank rose 8.0 sen to RM8.64, nudging the KLCI up by 1.42 points, RHB Capital gained 14 sen to RM7.49, Public Bank four sen to RM13.74 and CIMB one sen to RM7.29.

Petronas Chemicals added 10 sen to RM6.98, pushing the index up by 1.01 points. GENTING BHD [] added six sen to RM10.70 and Maxis five sen to RM5.80.

Green Ocean was the most active with 51.16 million shares done. It added three sen to 25.5 sen. The company was queried by Bursa Securities following the sharp rise in price and high volume recently.

Envair also saw active trade, adding 1.5 sen to 28 sen with 18.34 million units done.

Among the losers were, Dutch Lady, down 60 sen to RM25.16 but with only 600 shares done, Shell Refining 10 sen to RM9.70 after posting losses.

Ewein lost 19 sen to 80 sen, Boxpak 15 sen to RM2.21 and Malpac 14 sen to RM1.50 in thin trade.



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Markets up on EU plan to contain euro zone crisis

KUALA LUMPUR: Asian markets rallied on Thursday, Oct 27 after euro zone leaders struck a deal to contain the euro crisis, with the key indices up between 1% and 1.7%.

At 12.30pm, the FBM KLCI was up 14.86 points or 1.02% to 1,472.66. Turnover was 984.32 million shares valued at RM1.07 billion. There were 489 gainers, 149 losers and 234 stocks unchanged.

Japan’s Nikkei 225 rose 1.7% to 8,896.92, Hong Kong’s Hang Seng Index added 1.74% to 19,399.03, South Korea’s Kospi 1.31% to 1,919.16 and Singapore’s Straits Times Index advanced 1.7% to 2,817.10.

Reuters reported euro zone leaders struck a deal with private banks and insurers to accept a 50% haircut on their Greek government bonds under a plan to lower Greece's debt burden and try to contain the two-year-old euro zone crisis.

Under the deal, the private sector agreed to voluntarily accept a nominal 50% cut in its bond investments to reduce Greece's debt burden by 100 billion euros, cutting its debts to 120% of GDP by 2020, from 160% now.

Crude palm oil third-month futures rose RM39 to RM2,990 per tonne while Brent jumped US$1, or 0.9%, to US$109.91 a barrel and U.S. oil added US$1.56, or 1.7%, to US$91.76 a barrel.

At Bursa Malaysia, IOI Corp rose 18 sen to RM5.28 after it cancelled its RM830 million land purchase deal with Dutaland.

Dutaland fell 6.5 sen to 54.5 sen with 30.34 million shares done while Dutaland-WA lost three sen to 10 sen with 22.74 units done.

Hibiscus-WA rose 1.5 sen to 30.6 sen while the shares added 1.5 sen to 69 sen after its decision to buy a stake in Lime Petroleum Ltd for a total of US$55 million.

MBM Resources rose two sen to RM3.09 on a possibility it might buy a stake in Hirotako.

Among the major gainers in the morning session was Supermax, after analysts upgraded its outlook. It rose 36 sen to RM3.62. BLD PLANTATION []s was the top gainer, up 57 sen to RM6.90.

Among index-linked stocks. BAT added 40 sen to RM45.30, RHB Cap 35 sen to RM7.70, HLFG 30 sen to RM11.78, Genting 27 sen to RM10.26 while MISC rose 19 sen to RM6.99, Tenaga and HL Bank 18 sen each to RM5.96 and RM10.54.

Among the decliners were Ewein, down 22 sen to 86 sen, JFTech 17 sen to 13 sen, Ibraco and Lafarge 13 sen each to RM1.20 and RM6.99.