Published: Tuesday June 19, 2012 MYT 5:26:00 PM
Updated: Tuesday June 19, 2012 MYT 5:34:46 PM
KLCI rallies to 2-month high, eyes 1,600
By Joseph Chin
KUALA LUMPUR: Blue chips rallied on Tuesday, with the FBM KLCI eyeing the psychological important 1,600 level, on local institutional buying of index-linked stocks as sentiment perked up for the listing of the Felda Global Ventures Holdings (FGVH) on June 28.
The KLCI rose 12.25 points or 0.77% to 1,594.98, the highest since April 19. Turnover was 932.56 million shares valued at RM1.46bil. There were 467 gainers, 264 losers and 300 stocks unchanged.
The markets in Southeast Asia outperformed the bigger key Asian regional markets.
Singapore's Straits Times Index rose 0.6% to 2,841.25; Thailand's SET 0.41% to 1,168.15 and Jakarta's Composite Index 0.54% to 3,880.82..
However, Japan's Nikkei 225 fell 0.75% to 8,655.87; Hong Kong's Hang Seng Index eased 0.06% to 19,416.67; Shanghai's Composite Index slipped 0.66% to 2,300.79; Taiwan's Taiex 0.11% lower at 7,273.13 and South Korea's Kospi unchanged at 1,891.77.
US light crude oil fell 14 cents to US$83.13 and Brent 72 cents lower at US$95.33 while the ringgit was at 3.1572 against the US dollar.
Crude palm oil (CPO) third-month futures rose RM26 to RM2,925.
Among the consumer dividend stocks, BAT rose the most, up RM1.08 to RM56, Nestle 82 sen to RM57.02, F&N 60 sen to RM18.70 and Dutch Lady 48 sen to RM35.46.
Naim Indah Corp was the most active with 28.77 million shares done, up 0.5 sen to 29 sen.