Positive external vibes prop KLCI higher, but index stays shy of 1,600-mark

KUALA LUMPUR (April 18): The FBM KLCI closed higher on Wednesday, in line with the firmer performance at key regional markets, which saw Japan’s Nikkei 225 rising 2%, but the local benchmark index stayed shy of the 1,600 point level.

Japan's Nikkei index rallied 2.1 percent on Wednesday on robust U.S. corporate earnings, firm demand for Spanish debt and an upbeat German economic sentiment survey, with signals that the Bank of Japan may take more easing steps also providing momentum, according to Reuters.

Mewnwhile, China shares also ended up 2% on Wednesday, the biggest one-day percentage rise in more than two months, led by finance and property sectors on expectations the government would ease monetary policy, it said.

The FBM KLCI was up 2.67 points to close at 1,598.86.

Gainers edged losers by 394 to 350, while 337 counters traded unchanged. Volume was 2.13 billion shares valued at RM1.62 billion.

At the regional markets, Jpan’s Nikkei 225 rose 2.14% to 9.667.26, the Shanghai Composite Inde gained 1.96% to 2,380.85, Hong Kong’s Hang Seng Index was up 1.06% to 20,780.73, South Korea’s Kospi added 0.97% to 2,004.53, Taiwan’s Taiex edged up 0.25% to 7,605.00 and Singapore’s Straits Times Index

Among the gainers on Bursa Malaysia, BAT rose 74 sen to RM55.20, United PLANTATION []s up 40 sen to RM25, Dutch Lady 38 sen to RM34.98, Subur Tiasa 26 sen to RM3.08, Carlsberg 24 sen to RM11.28, SAM Engineering and Can-One 20 sen each to RM3.79 and RM2m, while KESM and Hong Leong Industries added 18 sen each to RM2.18 and RM4.29.

Metronic was the most actively traded counter with 362.76 million shares done. The stock added two sen to 19.5 sen.

Other actives included Ariantec, SuperComNet, Focus, Naim Indah Corp, Sanichi, DVM, CSL, Asral Supreme and Tiger Synergy.

Decliners included Tradewinds, Tan Chong, KLK, Genting, Far East, PMB Tech, Aeon Credit and Tradewinds Plantations.



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Malaysian shares down on European debt concerns

KUALA LUMPUR (April 5) : Malaysian shares fell on Thursday morning in tandem with Asian markets following a weaker overnight close across US and European bourses. Global markets had reacted negatively to fresh updates from Europe where Spain’s government bond auction was not well received.

This has raised concerns on the sustainability of European economies which are contending with their sovereign debt woes.

Malaysia’s FBM KLCI fell 5.83 points to 1,593.44 as at 10am with some 178 million shares worth RM89 million changing hands. There were 85 gainers versus 250 declining stocks.

Top gainers EKOVEST BHD [] added 17 sen to RM2.76 while BOUSTEAD HEAVY INDUSTRIES CORP [] Bhd was up six sen to RM3.34.

Decliners GENTING BHD [] fell 14 sen to RM10.94 while SMPC Corp Bhd was down 13 sen to RM1.92.

Most active was METRONIC GLOBAL BHD [] which added 0.5 sen to 15.5 sen with some 15 million shares done.

Among Asian equity benchmarks, Japan’s Nikkei 225 fell 1.05% to 9,716.99 points while Australia’s S&P / ASX 200 declined by a similar quantum to 4,288.4



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KLCI sustains momentum, closes at fresh all-time high

KUALA LUMPUR (APRIL 3): The FBM KLCI maintained its momentum and closed at a fresh all-time high above the psychologically-crucial 1,600-point level on Tuesday, in line with the generally positive sentiment at most global markets.

Asian shares on Tuesday sustained momentum from an overnight rally in global equities, with solid manufacturing data from the United States offsetting signs of mild recession in Europe, according to Reuters.

However, European shares and Brent crude oil prices dipped in early trade on Tuesday following recent sharp gains, as investors sought further signs of improvement in the global economy before chasing risky assets higher, it said.

The FBM KLCI closed 2.85 points to 1,606.63, lifted by gains at select blue chips including CIMB, Axiata, and BAT.

Gainers, however, trailed losers by 354 to 379, while 344 counters traded unchanged. Volume was 1.25 billion shares valued at RM1.36 billion.

At the regional markets, Hong Kong’s Hang Seng Index rose 1.31% to 20,790.98, the Shanghai Composite index added 0.47% to 2,262.79, South Korea’s Kospi gained 0.99% to 2,049.28, and Singapore’s Straits Times Index edged up 0.04% to 3,014.98 while Taiwan’s Taiex fell 1.3% to 7,760.85 and Japan’s Nikkei 225 lost 0.59% to 10,050.39.

On Bursa Malaysia, Dutch lady was the top gainer and rose 44 sen to RM35.94, Carlsberg added 34 sen to RM10.80, Jaya Tiasa 20 sen to RM8.72, HLFG 18 sen to RM12.50, BAT 16 sen to RM56.22, Sarawak PLANTATION []s 15 sen to RM3.24, MBM Resources 14 sen to RM4.77, APFT 12 sen to 79 sen, Voir 11.5 sen to 64.5 sen, Hightec 11 sen to 87 sen, Axiata nine sen to RM5.28 and CIMB two sen to RM7.81.

Metronic was the most actively traded counter with 134.23 million shares done. The stock fell 2.5 sen to 16 sen.

Other actives included Ingenuity Solutions, Ariantec, SuperComnet, Naim Indah Corp, Carotech, Utopia, Axiata and CIMB.

Meanwhile, decliners included Genting Plantations, SMPC, PPB, Warisan, Cepco, Can-One, Petronas Dagangan, Takaful and United Plantations.



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KLCI pares down gains at mid-day

KUALA LUMPUR (March 27): the FBM KLCI pared down some of its gains at the mid-day break on Tuesday while key regional markets mostly rebounded on the back of the firmer overnight close at Wall Street.

Asian stocks rebounded on Tuesday and the dollar struggled after Federal Reserve Chairman Ben Bernanke said ultra-loose monetary policy was still needed to reduce unemployment even though the U.S. economy has shown signs of improvement, according to Reuters.

Wall Street stocks had risen more than 1 percent on Bernanke's comments, which supported views that easy monetary policy would remain in place for some time and fanned expectations for more asset purchases by the U.S. central bank, it said.

The FBM KLCI was up 5.20 points to 1,588.18 at the mid-day break, lifted by gains at select blue chips. The index had earlier risen to its intra-morning high of 1,591.03.

Losers edged gainers by 334 to 311, while 333 counters traded unchanged. Volume was 1.09 billion shares valued at RM726.26 million.

The ringgit strengthened 0.33% to 3.0697 versus the US dollar; crude palm oil futures for the third month delivery rose RM3 per tonne to RM3,462, crude oil fell 28 cents par e barrel to US$106.75 and gold lost US$3.15 an ounce to US$1,686.93.

At the regional markets, Japan’s Nikkei 225 rose 1.56% to 10,174.10, Hong Kong’s Hang Seng Index gained 1.37% to 20,951.20, the Shanghai Composite Index edged up 0.20% to 2,355.29, Taiwan’s Taiex was up 0.42% to 8,001.40, South Korea’s Kospi rose 0.60% to 2,031.27 and Singapore’s Straits Times Index added 0.85% to 2,999.72.

On Bursa Malaysia, Dutch Lady rose 60 sen to RM32, F&N was up 28 sen to RM18.54, Petronas Dagangan gained 24 sen to RM18.72, HLFG 18 sen to RM12.30, Genting PLANTATION []s 16 sen to RM9.41, MPI 15 sen to RM3.28, Petronas Gas and KLK up 14 sen each to RM16.88 and RM24, Amway 11 sen to RM9.81 and Ekovest 10 sen to RM2.70.

Metronic was the most actively traded counter with 152.12 million shares done. The stock rose 2.5 sen to 23 sen.

Other actives included Ariantec, Supercomnet, Frontken, Oversea Enterprise, Focus, TMS, Edusopec and Flonic.

Decliners this morning included Nestle, Supercomnet, SMPC, NISC, Top Glove, Favelle Favco, Allianz, AirAsia and Kossan.



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KLCI ends week on positive note

KUALA LUMPUR (March 23): The FBM KLCI ended the week on a positive note, lifted by gains at select blue chips including Bat, Genting and Petronas Gas, bucking the regional markets

The KLCI closed 2.59 points higher at 1,585.83 but the broader market showed some weakness as losers beat gainers 520 to 282, while 317 counters traded unchanged. Volume was 2.0 billion shares valued RM1.41 billion.

Crude palm oil futures for the third month delivery rose RM80 per tonne to RM,3,422.

Meanwhile, world stocks held steady below this week's eight-month peak on Friday while the dollar fell broadly as concerns about growth in China and the euro zone and a renewed focus on sovereign debt problems in Italy and Spain kept investors cautious, according to Reuters.

At the regional markets, the Hong Kong Hang Seng Index fell 1.11% to 20,668.80, Japan’s Nikkei 225 lost 1.14% to 10,011.47, the Shanghai Composite Index fell 1.10% to 2,349.54, while South Korea’s Kospi gained 0.04% to 2,026.83 and Taiwan’s Taiex rose 0.21% to 8,076.61.

On Bursa Malaysia, Jaya Tiasa was up 61 sen to RM8.30, BAT 50 sen to RM53.80, Dutch Lady up 38 sen to RM30.98, Genting 24 sen to RM11, Chin Teck and MAHB up 20 sen each to RM9.30 and RM5.97, Petronas Gas 18 sen to RM16.70, Lipo 16 sen to RM1.20 and Lafarge Malayan Cement 14 sen to RM7.20.

Metronic was the most actively traded counter with 181.72 million shares done. The stock fell 4.5 sen to 21 sen.

Other actives included Ingenuity Solutions, Trinity, Ariantec, SAAG, Naim Indah Corp, Flonic, Astral Supreme and JCY.

Decliners on Friday included Ta Win Holdings, WSR shares and warrants, Kulim, S P Setia, Tasek, Milux, Mercury and Deleum.



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HDBSVR: Malaysian market could come under selling pressure

KUALA LUMPUR (March 23): Hwang DBS Vickers Research (HDBSVR) said with Wall Street showing signs of weakness, investors could be tempted to take profit across Asia on Friday.

It said that key US equity indices were down between 0.4% and 0.7% last night following a weaker-than-expected manufacturing growth data in China.

“Our Malaysian bourse will probably come under selling pressures too. Technically speaking, the benchmark FBM KLCI will likely lose ground to dip below the resistance-turned-support level of 1,580 ahead,” said the research house.

HDBSVR said stocks that may be hit on Friday include Metronic Global and Ariantec Global, amid one press report saying that proprietary day traders have been temporarily barred by some stock broking firms from trading in these two counters.

Hoping to get a lift is Lipo Corporation after its major shareholder Kobay TECHNOLOGY [] has proposed to undertake a selective capital reduction and repayment exercise involving a cash offer price of RM1.25 per share.

Separately, Malaysian AE Models has been awarded a sub-contract job worth RM62m at the new low cost carrier terminal in KLIA.



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KLCI closes marginally higher, stays above 1,580-level

KUALA LUMPUR (March 22): the FBM KLCI closed marginally higher on Thursday in line with the mostly mixed regional markets.

However, European stocks slipped on Thursday, keeping the benchmark world equity index below recent eight-month highs, while the dollar was weaker against the yen as data showing China's factory activity shrank renewed concerns about global growth, according to Reuters.

The HSBC flash PMI, the earliest indicator of China's industrial activity, fell to 48.1 in March from February's four-month high of 49.6, with new orders sinking to a four-month low, it said.

It raises the prospect for a further monetary policy easing to help underpin growth, although lingering inflation risks put Beijing's policymakers in a dilemma, it said.

The 30-stock FBM KLCI closed 0.71 of a point higher at 1,583.24, lifted by select blue chips including KLK and Tenaga. Losers overtook gainers by 379 to 363 whie 360 counters traded unchanged. Volume was 2.86 billion shares valued at RM1.5 billion.

At the regional markets, the Shanghai composite Index shed 0.10% to 2,375.77, Singapore’s Straits Times Indexwas down 0.74% to 2,983.48 and South Korea’s Kospi was down 0.05% to 2,026.12.

Elsewhere, Hong Kong’s Hang Seng Index gained 0.22% to 20,901.56, Japan’s Nikkei 225 added 0.40% to 10,127.08 and Taiwan’s Taiex rose 0.98% to 8,059.94.

KLK was the top gainer and added 40 sen to RM23.82, Takaful rose 23 sen to RM2.65, Cybertowers and Jaya Tiasa up 19 sen each to 54 en and RM7.69, MHC PLANTATION []s up 17 sen to RM1.77, Southern Acids 15 sen to RM2.50, Sunchirin and Tenaga 13 sen each to RM1.55 and RM6.71, while Litrak gained 11 sen to RM4.10.

Metronic was the most actively traded counter with 347.7 million shares done. The stock was unchanged at 25.5 sen.

Other actives included Utopia, Ingenuity Solutions, Ariantec, Flonic, DBE Gurney, Hubline and Naim Indah Corp.

Decliners included Lafarge Malayan Cement, PPB, United Plantations, Nestle, Hightec, Kulim, RHB Capital and IOI Corp.



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Metronic sees 12.7m shares crossed at 12 sen each

KUALA LUMPUR (March 22): METRONIC GLOBAL BHD [], whose shares had been actively traded recently, saw 12.7 million shares transacted in an off-market deal at an average price of 12 sen each on Thursday.

Stock market data showed the 12.7 million shares accounted for a 2% stake of its paid-up.

The transaction at 12 sen each was 52.9% or 13.5 sen below Wednesday’s closing price of 25.5 sen.

At midday, Metronic was up 4.5 sen to 30 sen with 194.95 million shares done.



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KLCI edges higher, lifted by bank stocks

KUALA LUMPUR (March 22): The FBM KLCI closed marginally higher on Wednesday, lifted by gains at select blue chips including Maybank, Public Bank, KLK, and BAT while trading volume surged to nearly 3.6 billion shares.

The 30-stock index rose 4.91 points to close at 1,582.53. Gainers beat losers by 384 to 339, while 270 counters traded unchanged. Volume was 3.59 billion shares valued RM1.79 billion following heavy transactions in penny stocks.

However, Asian shares eased on March, as concerns about China's slowing economy dampened the optimism generated by a brightening outlook for the U.S. economy that has been pushing equity markets higher since late last year, according to Reuters.

But financial spreadbetters predicted major European markets, it said.

At the regional markets, Japan’s Nikkei 225 fell 0.55% to 10.086.49, Hong Kong’s Hang Seng Index shed 0.15% to 20,856.63, South Korea’s Kospi lost 0.73% to 2,027.23, while the Shanghai Composite Index gained 0.06% to 2,378.20 and Taiwan’s Taiex rose 0.12% to 7,981.94.

Meanwhile, European stock index futures signalled gains on Wednesday, with stocks set to bounce back from the previous session's pull-back as investors bet U.S. housing data will give further evidence of economic recovery, eclipsing recent worries over Chinese growth, it said.

Among the gainers on Bursa Malaysia, BAT added 78 sen to RM53.20, PPB up 22 sen to RM16.78, Lafarge Malayan Cement, Sarawak Oil Palms and JTI up 17 sen each to RM7.25, RM6.70 and RM6.86 respectively.

Far East and Cepco added 15 sen each to RM7.40 and RM1.80, Metronic 14.5 sen to 25.5 sen, Tasco 12 sen to RM2.14 while Public Bank and KLK up two sen each to RM13.64 and RM23.43, while Maybank added one sento RM8.74.

Metronic was the most actively traded counter with 845.6 million shares done.

Other actives included Ariantec, Ingenuity Solutions, Focus, Tiger Synergy, Hubline, Asia-Bio, and Naim Indah Corp.

Decliners included Hartalega, Aeon Credit, Litrak, GAB, Gamuda, Kluang, United Malacca, SPMC, Allianz and MSM.



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FBM KLCI cuts losses, in positive territory at lunch break

KUALA LUMPUR (March 21) : The FBM KLCI cut losses to leap back into positive territory towards lunch break as most Asian stock markets encountered a sell down on China economic growth concerns.

Regional sentiment was hit by updates on costlier retail energy in China and the anticipation of weaker demand in the world’s second largest economy for raw materials such as iron ore, the primary feedstock for steel manufacturing.

In Malaysia, the 30-stock FBM KLCI rose 0.68 point to 1,578.3 at 12.30pm with 1.83 billion shares worth some RM682 million traded. Across the exchange, there were 238 gainers versus 349 decliners while 330 stocks were unchanged.

The index had fallen as much as 0.3%or 4.45 points to an intraday low of 1,573.17 earlier.

Top gainer and most active stock METRONIC GLOBAL BHD [] added 18 sen to 29 sen followed by Genting PLANTATION []s Bhd which was up 11 sen to RM9.46.

Metronic said on Monday it was informed by its managing director Dr Ng Tek Che that he was approached by parties who are keen to acquire his 5.23% stake in the firm.

Decliners include ALLIANZ MALAYSIA BHD [] which lost 17 sen to RM4.70 while PPB GROUP BHD [] was down 16 sen to RM16.40.

Most Asian stockmarkets fell at midday. Japan’s Nikkei 225 declined 0.48% to 10,093.1 points, Australia’s S&P/ASX 200 was down 0.37% to 4,259, while Hong Kong’s Hang Seng lost 0.47% to 20,789.8



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Quality of buying declines on Bursa

KUALA LUMPUR (March 20): The quality of buying in the morning session on Tuesday declined, with trading interest focused on penny stocks, while the broader market showed some signs of weakness.

Investors were staying on the sidelines, as evidenced by the small gains and cautious regional markets. Most of the most active stocks were penny counters.

At 12.30pm, the FBM KLCI was up 3.48 points to 1,577.08. Turnover was 1.28 billion shares valued at RM676.65 million. Decliners led advancers 382 to 245 while 333 counters were unchanged.

Hong Kong’s Hang Seng Index slipped 0.67% to 20,974.03, Taiwan’s Taiex shed 0.69% to 7,988.42, South Korea’s Kospi 0.26% lower at 2,041.59 but Singapore’s Straits Times Index added 0.58% to 3,006.53. Japan was closed.

At Bursa Malaysia, dealers said retail investors were staying on the sideline while some who had already bought blue chips and mid-cap stocks were awaiting fresh news. They said the retail investors were not ready to rush in.

According to Bursa Malaysia, local retail participation had declined to about 26%, local institutions were at 54.6% and foreigners at about 19.4%.

Focus, which was queried by Bursa Securities over the sharp rise and heavy volume, added 3.5 sen to 23 sen. There were 112.93 million shares done. It warrants, WA added 4.5 sen to 8.5 sen and WB 2.5 sen to 15 sen.

Dutaland-LB added 15 sen to RM1.05, BCorp-LR 15.5 sen to 13 sen. Index-linked stock BAT rose 14 sen to RM52.52, HLFG 10 sen to RM11.98 and PetGas eight sen to RM16.48.

Ta Ann added 12 sen to RM5.87, PIE 11 sen to RM4.88 and IGB seven sen to RM2.87.

Share prices of Metronic Global and its 17%-owned unit Ariantec Global slipped in active trade. Ariantec fell three sen to 10.5 sen and it was the most active with 121.23 million shares done while Metronic eased one sen to 12 sen.

HL Industries was the top loser, down 12 sen to RM4.06, Batu Kawan and United PLANTATION []s shed 10 sen each to RM18.40 and RM25. EPMB extended its decline, down 6.5 sen to 90 sen.



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Metronic, Ariantec mixed in active trade

KUALA LUMPUR (March 20): Share prices of METRONIC GLOBAL BHD [] and its 17%-owned unit Ariantec Global Bhd were mixed in active trade on Tuesday.

At 9.55am, Ariantec Global fell two sen to 11.5 sen with 62.25 million shares done after the recent rally in its share price. Metronic edged up 0.5 sen to 13.5 sen with 49.19 million units transcated.

The FBM KLCI rose 3.06 points to 1,576.66. Turnover was 558.24 million shares valued at RM190.52 million. There were 193 gainers, 160 losers and 265 stocks unchanged.

Metronic said late Monday it was informed by its managing director Dr Ng Tek Che that he was approached by parties who are keen to acquire his 5.23% stake in the firm.

Metronic, which specialises in system integration of intelligent building management and integrated security management systems. Ariantec offers information TECHNOLOGY [] services.



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Metronic rises on offer for MD's stake

Metronic Global Bhd, a computer-systems developer, advanced 3.9 percent to 13.5 sen in Kuala Lumpur trading at 9.32am, on course for its highest close since Oct. 19, 2009.

Managing Director Ng Tek Che has been approached by parties seeking to buy part or all of his 5.2 percent stake, the company said in a stock-exchange filing.

The discussions are preliminary, it said. -- Bloomberg



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Stocks to watch : Mega First , Metronic Global , Public Bank, Eng Teknologi

KUALA LUMPUR (March 19) : Malaysian stocks could take the cue from more external news flow on Tuesday as investors weigh the prospects of a recovering US economy against less optimistic updates in China.

The spotlight this week will be directed at the US housing market data, deemed a crucial indicator of the health of the world’s largest economy. Investors are also taking note of China-based banks which are due to report their quarterly earnings.

On Monday, the FBM KLCI rose 0.14% or 2.2 points to finish at 1,573.6.

Stocks to watch on Tuesday include Mega First Corp Bhd and its 60.43% subsidiary ROCK CHEMICAL INDUSTRIES (M) [] Bhd, besides KOBAY TECHNOLOGY [] BHD [] and its 53.16% subsidiary Lipo Corp Bhd.

Heavily-traded METRONIC GLOBAL BHD [] and its 17%-owned unit Ariantec Global Bhd are also worth noting. Other stocks to watch include PUBLIC BANK BHD [], and ENG TEKNOLOGI HOLDINGS BHD [].

Mega First, a power plant builder and property developer , has served a takeover notice on Rock Chemical, a building materials entity, to acquire the remaining shares it does not own at RM2.10 each.

Mega First shares rose two sen to close at RM1.72 on Monday while Rock Chemical was up 31 sen to RM2.06 after both stocks resumed trading at 2.30pm.

Trading of shares in industrial component manufacturers Kobay and Lipo has been suspended since 3.05 pm on Monday, pending an announcement. Kobay was last traded on Friday at 79 sen while Lipo was last transacted at RM1.04 on Monday.

Metronic said it was informed by its managing director Dr Ng Tek Che that he was approached by parties who are keen to acquire his 5.23% stake in the firm.

Metronic,which specialises in system integration of intelligent building management and integrated security management systems, saw its shares rose 0.5 sen to 13 sen with about 177 million shares changing hands on Monday.

Ariantec, which offers information technology services, rose four sen to 13.5 sen with some 235 million shares done.

Public Bank is expected to maintain its 50% dividend payout ratio, chief operating officer Leong Kok Nyem said at the group’s AGM. Public Bank shares rose four sen to close at RM13.64.

The founders and major shareholders of Eng Teknologi who are in the midst of privatising the hard disk drive maker said the takeover offer price has been revised downwards from RM2.50 to RM2. Eng Teknologi shares closed unchanged at RM1.77.



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KL shares mixed at midafternoon

Share prices on Bursa Malaysia were mixed at mid-afternoon today but at 3.01pm the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.56 points better at 1,572.96, dealers said.

Sentiment remained cautious over the weaker-than-expected US economic data recently.

The US bourses were mixed but little changed and the Asian markets were expected to follow the latter's lead, a dealer said.

The Finance Index eased 17.32 points to 14,175.33 but the Plantation Index rose 20.62 points to 8,596.81 and the Industrial Index added 22.68 points to 2,838.41.

The FBM Emas Index advanced 6.03 points to 10,851.86, while the FBM Mid 70 Index shed 9.96 points to 12,135.65 and the FBM ACE Index slipped 23.75 points to 4,641.01.

Losers led gainers 380 to 279 while 311 counters were unchanged and 19 untraded.

Trading volume stood at 1.16 billion shares valued at RM794.375 million.

Among active stocks, Ariantec Global added 2.5 sen to 12 sen, Pan Malaysian earned half a sen to 5.5 sen, IFCA MSC advanced one sen to 12.5 sen while Metronic Global was flat at 12.5 sen.

Among heavyweights, Maybank lost eight sen to RM8.73, CIMB eased two sen to RM7.64, Petronas Chemicals shed four sen to RM6.72 while Sime Darby was flat at RM9.75. -- Bernama



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KL shares mixed at mid-day

Share prices on Bursa Malaysia trended mixed at midday today in line with the uncertain movement in regional markets, dealers said.

At 12.30pm, the FBM KLCI was 2.32 points higher at 1,573.72, after opening 2.9 points higher at 1,574.3. A dealer said investors were cautious after the weaker-than-expected US economic data recently.

"Unexpected weakness in consumer sentiment adds to the overall caution," he said.

The Finance Index eased 2.47 points to 14,190.18 but the Plantation Index rose 20.42 points to 8,596.61 and the Industrial Index added 16.72 points to 2,832.45.

The FBM Emas Index advanced 12.55 points to 10,858.38, the FBM Mid 70 Index earned 4.86 points to 12,150.47 while the FBM ACE Index slipped 15.76 points to 4,649.

Losers led gainers 363 to 265 while 287 counters were unchanged and 21 untraded. Trading volume stood at 1.05 billion shares valued at RM658.48 million.

Among active stocks, Ariantec Global added 2.5 sen to 12 sen while Pan Malaysian, Metronic Global and IFCA MSC earned half a sen each to 5.5 sen, 13 sen and 12 sen respectively.

Among heavyweights, Maybank lost seven sen to RM8.74, CIMB eased two sen to RM7.64, Petronas Chemicals shed four sen to RM6.72 while Sime Darby was flat at RM9.75. -- Bernama



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KL shares open higher on technical rebound

Share prices on Bursa Malaysia opened firmer today on technical rebound after tumbling in the final few minutes of trading on Friday for a daily loss of eight points.

Nineteen minutes after the opening bell, the FBM KLCI stood at 1,577.32, up 5.92 points. It had opened 2.9 points higher at 1,574.3. HwangDBS Vickers Research said there was no strong market lead coming in from abroad last week.

"Major US equity indices were little changed on Friday as Wall Street was in a consolidation mode," it said in a research note.

The global forecast for the Asian markets is flat with a hint of negativity in response to weaker-than-expected economic data from the US.

On Bursa Malaysia, the Finance Index advanced 47.53 points to 14,240.18, the Plantation Index added 6.24 points to 8,582.43 and the Industrial Index up 15.24 points to 2,830.97.

The FBM Emas Index climbed 37.6 points to 10,883.43, the FBM Mid 70 Index surged 35.79 points to 12,181.4 and the FBM ACE Index edged up 20.48 points to 4,685.24.

Gainers outnumbered losers 162 to 59, while 134 counters were unchanged, 1,138 untraded and 21 suspended. Volume stood at 213.596 million worth RM55.49 million.

Among active counters, Ariantec Global earned two sen to 11.5 sen, Pan Malaysia added half a sen to 5.5 sen while Metronic Global eased half a sen to 12 sen.

For heavyweights, Maybank unchanged at RM8.81, Sime Darby earned four sen to RM9.79, CIMB rose three sen to RM7.69 and Petronas Chemicals increased two sen to RM6.78. -- Bernama



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FBM KLCI ends in negative territory on Friday

KUALA LUMPUR (March 16) : Malaysia’s FBM KLCI gave up earlier gains to end in negative territory on Friday in tandem with major Asian indices as foreign investors liquidated regional equities to capitalise on the recovery in the US.

News reports indicate that foreign investors are channeling their funds into US-based assets, lending support to the strength of the US dollar. US Treasury Secretary Timothy Geithner had said the world’s largest economy is showing indications of early growth but still has to contend with tough challenges which require policymakers to undertake measures to generate jobs.

In Malaysia, the 30-stock FBM KLCI fell 0.5% or 7.98 points to close at 1,571.4 at 5pm. The index had earlier gained as much as 0.3% or 4.17 points to 1,583.55 during intraday trade.

Turnover across Bursa Malaysia came to 2.41 billion shares worth some RM1.93 billion.There were 427 gainers versus 330 decliners while 344 stocks were unchanged.

Top gainer TAHPS GROUP BHD [] rose 29 sen to close at RM4.80 followed by AEON CREDIT SERVICE (M) BHD [] which added 27 sen to RM9.

Decliners include BRITISH AMERICAN TOBACCO (M) [] Bhd which fell RM1.46 to RM52.50 while PETRONAS GAS BHD [] was down 60 sen to RM16.

The top two most active stocks - Ariantec Global Bhd and METRONIC GLOBAL BHD [] were queried by regulators for unusual trading patterns in their shares.

Ariantec shares rose 90% or 4.5 sen to close at 9.5 sen with some 438 million shares done while Metronic rose 56% or 4.5 sen to 12.5 sen with about 404 million shares changing hands.

Among Asian indices, Hong Kong’s Hang Seng lost 0.17% to close at 21,317.85 points, Australia’s S&P/ASX 200 declined 0.04% to 4,276.16, while South Korea’s Kospi was down 0.46% to 2,034.44

China stocks ,however, rebounded following a sell down in recent days. The Shanghai Composite rose 1.3% to 2,404.74 points

China’s outgoing premier Wen Jiabao had said on Wednesday that measures to curb property speculation must be maintained to prevent a real estate bubble which will be detrimental to the country’s economy. On Thursday, the Commerce Ministry announced that China’s foreign direct investment fell 0.9% to US$7.7 billion in February from a year earlier.



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Metronic unaware of reasons for sharp rise in stock price and volume

KUALA LUMPUR (March 16) : METRONIC GLOBAL BHD [] said it is not aware of any developments in the company which could have caused the unusual trading patterns of its stock on Friday.

In a statement to the exchange in response to the regulator’s unsual market activity query, Metronic said it had consulted its directors on the matter. It, however, said it has not been able to contact another board member Mohd Afrizan Husain.

“The company shall make the announcement once confirmation from Afrizan has been obtained,” said Metronic which specialises in system integration of intelligent building management and integrated security management systems.

Metronic, the most actively traded stock on Bursa Malaysia at midday on Friday, jumped 56% or 4.5 sen to settle at 12.5 sen at lunch break with some 341 million shares done. This compares to some 60 million shares on Thursday.



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Finance stocks lift FBM KLCI

Finance stocks lifted share prices on Bursa Malaysia which ended the morning session steady today and in line with regional markets, dealers said.

The dealers also said the local market was supported by the overnight gains on Wall Street.

At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.95 of a point to 1,580.33. It had opened 1.1 point higher at 1,580.48.

The dealers said buying sentiment was boosted on improved confidence in the growth outlook of the United States but investors remained cautious on concerns over China's economic progress.

The Finance Index jumped 63.1 points to 14,237.04, the Plantation Index eased 39.75 points to 8,574.21 and the Industrial Index increased marginally, 0.08 of a point, to 2,845.41

The FBM Emas Index improved 11.12 points to 10,895.63, the FBM Mid 70 Index added 26.811 points to 10,895.63 and the FBM Ace Index gained 56.7 points to 4,626.48.

Market breadth was positive with 329 advancers to 286 losers while 342 other counters were unchanged and 22 others suspended.

Trading volume stood at 1.375 billion shares valued at RM726.664 million.

Among the active stocks, Metronic Global added 4.5 sen to 12.5 sen, Ariantec Global edged up three sen to 8.0 sen and I-Power perked one sen to 6.5 sen.

Bursa Malaysia issued an unusual market activity query to Metronic Global Bhd today over the sharp increase in price and high volume of the company's shares.

Meanwhile, trading in the shares of Mega first Corp Bhd and its 60.43 per cent subsidiary, Rock Chemicals Industry (M) Bhd, was suspended from 9am-5pm today, at the request of both companies in separate statements to Bursa Malaysia.

Among the heavyweights, Maybank rose six sen to RM8.82, Sime Darby earned four sen to RM9.75, CIMB went up eight sen to RM7.65 and Petronas Chemicals inched up one sen to RM6.78. -- Bernama



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