Tuesday, May 5, 2009

KLCI rally hits speed bump at midday

KUALA LUMPUR: The rally on Bursa Malaysia hit a road bump at midday on May 5 as investors locked in gains from sharp run-up in the share prices but the market sentiment remained firm.

Other key Asian markets were also firmer at midday, with Singapore’s Straits Times Index adding more than 1%.

At 12.30pm, the KL Composite Index fell 7.19 points to 1,002.17. Turnover was 1.22 billion shares valued at RM987.98 million. There were 236 gainers, 345 losers and 239 counters unchanged.

Singapore’s Straits Times Index rose 1.3% to 2,055.99, Hong Kong’s Hang Seng Index added 0.1% to 16,401.80 while Shanghai’s Composite Index fell 0,18% to 2,555.28.

Light crude oil slipped 44 cents to US%54.03 while crude palm oil futures shed RM1 to RM2,640.

Meanwhile, Bloomberg reported the US Federal Reserve plans to deliver results of stress trest on US bank to executive on May 5 which might show about 10 companies might need additional capital to endure a deeper recession.

CCM-WB was the top loser, falling 42 sen to 99 sen with 3,000 shares done.

Tanjong fell 30 sen to RM14.30, BAT and BCHB 25 sen each to RM44 and RM8.30 while Petronas Dagangan and Shell 20 sen each to RM7.70 and RM10 and Pos Malaysia shed 11 sen to RM2.26

Among banks, BCHB fell 25 sen to RM8.30, Public Bank 10 sen to RM8.45 but Maybank rose two sen to RM4.48. However, EON Cap rose 12 sen to RM3.82.

Among plantations, Kulim rose 20 sen to RM6, Batu Kawan added 15 sen to RM8.40, IOI Corp lost 12 sen to RM4.30, KL Kepong 10 sen to RM11.30 and Sime Darby 10 sen to RM6.60.

Dutch Lady added 15 sen to RM9.90 and F&N five sen to RM8.80.
KNM was the most active with 147 million shares done, adding one sen to 65.5 sen.
Written by Joseph Chin


Newer Post Older Post Home