Business

Published: Tuesday June 19, 2012 MYT 9:47:00 AM

KLCI extends gains, consumer stocks lead

By Joseph Chin


KUALA LUMPUR: Blue chips extended their gains on Tuesday, with the FBM KLCI up more than five points, with consumer dividend stocks among the major gainers, despite the mixed signals from Europe.

At 9.48am, the KLCI was up 5.08 points to 1,587.81. Turnover was 122.14 million shares valued at RM110.88mil. There were 188 gainers, 133 losers and 196 counters unchanged.

Hwang DBS Vickers Research said in its market outlook that mixed signals from Europe could halt the relief rally that lifted Asian equities on Monday.

"Essentially, the positive vibes generated by the victory of pro-austerity political parties in the Greek election have been negated by rising Spanish bond yields (a reflection of growing funding risks)," it said.

At Bursa Malaysia, Nestle was the top gainers, up 80 sen to RM57, BAT 70 sen RM55.62, F&N 36 sen to RM18.46 and Dutch Lady 16 sen to RM35.14.

Aeon Credit jumped 74 sen to RM11.28, Aeon 16 sen to RM9.30 while among plantation-related stocks, United Plantations climbed 50 sen to RM24.90 and PPB 12 sen to RM15.82 but Genting Plantations slipped 18 sen to RM9.13 with just 100 shares done.

Among the decliners were Lii Hen, down 28 sen to 71 sen, Petronas Dagangan 28 sen to RM20.80 while timber-plantations players Jaya Tiasa fell 12 sen to RM8.66 and Ta Ann seven sen to RM4.72.

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