Business

Published: Tuesday November 20, 2012 MYT 5:57:00 PM
Updated: Tuesday November 20, 2012 MYT 6:00:04 PM

Malaysian blue chips snap 10-day losses, CIMB lifts


KUALA LUMPUR: Late buying of index-linked stocks helped the FBM KLCI snap its 10-days of losses on Tuesday, but the broader market was weaker, in line with the mixed key regional markets.

CIMB and Genting helped lift the KLCI, which had been in the decline since the all-time closing high of 1,675.69 on Nov 1.

At the close, the KLCI was just up 0.89 of a point or 0.05% to 1,624.20. Turnover was 1.02 billion shares valued at RM1.69bil. There were 298 gainers, 358 losers and 362 stocks unchanged.

Bloomberg reported European stocks fell, after the Stoxx Europe 600 Index jumped the most in two months on Monday, as Moody's Investors Service downgraded France and euro-area finance ministers prepared to meet.

Among the key regional markets, Japan's Nikkei 225 slipped 0.12% to 9,142.64; Hong Kong's Hang Seng Index shed 0.16% to 21,228.28 and Shanghai's Composite Index eased 0.4% to 2,008.92.

Taiwan's Taiex inched up 0.23% to 7,145.77; South Korea's Kospi inche dup 0.64% to 1,890.18 and Singapore's Straits Times Index added 0.27% to 2,958.82.

US light crude oil fell 53 cents to US$88.75 and Brent eased 51 cents to US$111.19. Spot gold rose US$1.76 to US$1,733.48.

The ringgit strengthened against the US dollar to 3.0606 fro, 3.0639 on Monday.

Crude palm oil for third-month futures fell RM23 to RM2,436.

At Bursa Malaysia, consumer stock Dutch Lady rose 80 sen to RM46, BAT 60 sen to RM58.54, JTI 12 sen to RM6.92 but GAB fell 12 sen to RM16.66.

CIMB rose four sen to RM7.67 and pushed the KLCI up 0.69 of a point, HLFG added six sen to RM12.76 while Public Bank added two sen to RM15.40 and Maybank one sen to RM9.04.

KNM-WA was the most active, surging 9.5 sen to 10 sen with 89.39 million units done while the shares fell 1.5 sen to 48 sen.

Axiata fell one sen to RM5.95 but DiGi added two sen to RM4.81 and TM was flat at RM5.45.

Aeon Credit was the top loser, down 40 sen to RM12.80. Bina Goodyear plunged 22.5 sen to 17.5 sen as it was declared a Practice Note 17 company.

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