UALA LUMPUR: The KL Composite Index (KLCI) snapped a two-day losing streak and rebounded more than 1% in the morning session today, in line with the recovery at Asian markets.
The KLCI, lifted by gains at plantation and key blue chip stocks, was 1.1% or 11.50 points higher at 1,055.98 at 12.30pm today. Turnover was 620.49 million shares valued at RM610.8 million. Gainers led losers 402 to 134, while 174 counters traded unchanged.
Over at the regional markets, Taiwan's TAIEX Index surged 4.13% to 6,453.29, Singapore's Straits Times Index added 1.98% to 2,270.12, Hong Kong's Hang Seng Index gained 1.61% to 17,821.56 and Japan's Nikkei 225 rose 0.6% to 9,607.15.
Meanwhile, the Shanghai Composite Index and the South Korean Kospi each added 0.56% respectively to 2,908.86 and 1,368.16, respectively.
Among the major gainers on the Bursa Malaysia this morning were Genting, Tenaga, Sime Darby, IOI Corp, Maybank and KFCH.
Genting added 25 sen to RM5.65; Tenaga and KFCH gained 20 sen each to RM7.60 and RM6.90 respectively, Sime Darby up 10 sen to RM6.85, IOI Corp up 8 sen to RM4.60 while Maybank rose 5 sen to RM5.65.
Asiatic Development and John Master Industries added 15 sen each to RM5.60 and 64 sen, Astro was up 13 sen to RM3, Metrod gained 12 sen to RM3.32 while MMC Corp was up 6 sen to RM1.91.
Tahps was the top loser, falling 30 sen to RM2.80; Tan Chong fell 19 sen to RM1.71, Panasonic, MISC and UMW Holdings lost 10 sen each to RM11.90, RM8.60 and RM5.75, respectively, while LBI Capital fell 7.5 sen to 63.5 sen.
Other losers included Top Glove and Petronas Gas that fell 5 sen each to RM6.45 and RM9.75 while KLCC Property that lost 8 sen to RM3.30.
KNM Group was the most actively trade stock this morning with 47.5 million shares done. The stock added 3.5 sen to 84 sen.
Samchem continued to impress, adding 2.5 sen to 92.5 sen with 33.5 million shares traded. The stock made its debut yesterday.
Other actively traded stocks this morning included UEM Land, Compugates, Tebrau Teguh, Scomi, MRCB, Jaks and Hovid.
Crude oil fell 65 cents to US$68.59 per barrel, while crude palm oil futures declined RM29 to RM2,257 per tonne at midday.
Written by Surin Murugiah
Wednesday, 24 June 2009 13:15 ( The Edge)