Published: Wednesday June 27, 2012 MYT 10:44:00 AM
Blue chips rebound, consumer stocks lead
By Joseph Chin
KUALA LUMPUR: Blue chips rebounded in late morning on Wednesday, again with selected consumer dividend stocks among the gainers, while regional markets were mixed.
Muhibbah fell in active trade on expectations it would have to make provisions for the Asian Petroleum Hub (APH) project after CIMB Bank pulled out from the debt revamp plan.
At 10.40am, the FBM KLCI was up 4.09 points to 1,598.19. Turnover was 260.36 million shares valued at RM227.27mil. There were 244 gainers, 167 losers and 260 stocks unchanged.
Bloomberg reported Asian stocks swung between gains and losses after falling for four days ahead of the 19th summit on Europe's debt crisis in three years. Declines were tempered by speculation the US housing market is bottoming and that China may step up efforts to support its economy.
At Bursa, BAT was the top gainer, adding 48 sen to RM55.48 with just 200 shares done.
Panasonic Malaysia added 40 sen to RM23 after announcing its final dividend of 35 sen a share and special dividend of 70 sen for FY ended March 31, 2012.
Pharmaniaga advanced 20 sen to RM9.84 while Takaful rose 13 sen to RM5.90.
MISC added 12 sen to RM4.32 on expectations of turning around in the current financial year.
Gas Malaysia rose six sen to RM2.57 and Gas Malaysia-CD 0.5 sen to 10.5 sen.
Muhibbah fell 15 sen to RM1.50, the steepest loss in recent months, with 19.05 million shares done. It was the most active.
Dutch Lady lost 60 sen to RM35, while BLD Plantations shed 14 sen to RM8.45 and Kulim six sen to RM4.54.