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.
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.