KLCI succumbs to profit taking, extends losses

KUALA LUMPUR: The FBM KLCI reversed its earlier gains and slipped into negative territory on Friday, Nov 11 as some mild profit taking on select blue chips weighed on the index.

The FBM KLCI fell 3.90 points to 1,468.75, weighed by losses at select blue chips.

Gainers led losers by 425 to 310, while 282 counters traded unchanged. Volume was 2.07 billion shares valued at RM1.23 billion.

At the regional markets, Hong Kong’s Hang Seng Index closed 0.91% higher at 19,137.17, South Korea’s Kospi jumped 2.77% to 1,863.45, Taiwan’s Taiex up 0.80% to 7,367.29, Japan’s Nikkei gained 0.16% to 8,514.47 and the Shanghai Composite Index edged up 0.06% to 2,481.08, while the Singapore Straits Times Index added 0.14% to 2,790.94.

On Bursa Malaysia, DiGi and PPB fell 22 sen each to RM33.78 and RM16.62, Ya Horng down 18 sen to 42 sen, Sunchirin 14 sen to RM1.38, Uzma 13 sen to RM1.68, Petronas Dagangan 12 sen to RM16.10, Tasek and Genting 10 sen each to RM8 and RM10.58, while Benalec fell eight sen to RM1.35.

Compugates was the most actively traded counter with 79.8 million shares traded. The stock gained half a sen to 8.5 sen.

Other actives included JCY International, Takaso, iDimension, Tiger, Karambunai and Rimbunan Sawit.

Meanwhile, gainers included United PLANTATION []s, BLD Plantations, CI Holdings, Harvest Court, Manulife, Dutch Lady, BAT, TSH Resources and GAB.

Late buying nudges KLCI up nearly 8pts

KUALA LUMPUR: Late fund buying of selected key stocks nudged the FBM KLCI to a strong close on Tuesday, Oct 25 after a lacklustre trading performance throughout the day.

The KLCI closed up 7.78 points or 0.54% to 1,457.80 after spending half the day in the red. Volume traded was 850.64 million shares valued at RM1.076 billion. The broader market sentiment improved, with 299 gainers versus 373 losers and 289 counters unchanged.

Shanghai's Composite Index closed up 1.66% at 2,409.67 led by financials and energy counters. Hong Kong's Hang Seng rose 1.05% to 18,968.20 and Singapore's Straits Index 0.33% to 2,769.94.

However, South Korea’s Kospi fell 0.51%to 1,888.65 and Japan's Nikkei 225 fell 0.92% to 8,762.31 as some Japanese market players were sceptical on whether European policymakers were doing enough to contain the debt crisis.

Reuters reported investors were cautious as fresh political uncertainties a day ahead of the eurozone leaders meeting to resolve the region’s two year old debt crisis.

At Bursa Malaysia, Malaysia Airports Holdings Bhd’s strong 3Q11 results saw the share price climb 33 sen to RM5.88.

Other index-linked stocks which closed higher were Sime Darby, up 21 sen to RM8.85, Tenaga Nasional 19 sen to RM5.78 and Malaysia Marine and Heavy Engineering 14 sen to RM6.08.

Meanwhile, crude palm oil futures for January rose RM61 or 2.1% to RM2,951 a tonne, the highest since Sept 26. IOI Corp rose seven sen to RM5.10,

KLK rose four sen to RM20.62 but KLK’s major shareholder Batu Kawan lost 18 sen to RM15.32.

The worst performer was TAHPS, down 40 sen to RM4.10, Fima Corp 18 sen to RM5.55, MFlour 15 sen to RM7.15 and Yahorng 12 sen to 50 sen.