Friday, May 29, 2009

KLK, Sime nudge KLCI up

UALA LUMPUR: After spending nearly half the morning session in the red on May 29, the equities market showed mild recovery, lifted by gains in KL Kepong and Sime Darby after crude palm oil futures rose.

The broader market also improved with more buyers re-entering the market.

At 12.30pm, the KL Composite Index rose 2.85 points to 1,044.09. Turnover was 827.45 million shares valued at RM81 million. There were 244 gainers, 258 losers and 198 stocks unchanged.

Asian markets were higher. Japan’s Nikkei 225 rose 0.03% to 9,454.35, Hong Kong’s Hang Seng Index advanced 0.5% to 17,967.31. Singapore’s Straits Times Index rose 1.13% to 2,318.79.

Light crude oil fell 27 cents to US$64.81 while crude palm oil futures rose RM21 to RM2.526.

Among plantations and plantation-related stocks, Riverview rose 35 sen to RM2.45, KL Kepong 20 sen to RM11.70, Kulim-WB 16 sen to RM3.80 while Sime and PPB added 10 sen to RM6.85 and RM10.90.

Tenaga rose 20 sen to RM7.80 and QSR 10 sen higher to RM2.90.

The improvement in sentiment saw KNM, which was the most active with 137 million shares transacted, rising 7.5 sen to 88 sen. However, Telekom lost eight sen to RM2.65 in active trade.
The decliners were BAT, easing 25 sen to RM43.50. Boustead lost 22 sen to RM4.24, MAHB and RHB Cap 12 sen lower to RM3.48 and RM4.08.

Written by Joseph Chin
Friday, 29 May 2009 12:46


Newer Post Older Post Home