Published: Wednesday July 25, 2012 MYT 5:51:00 PM
Tenaga, plantations lift KLCI, IHH in focus
By Joseph Chin
KUALA LUMPUR: Market sentiment on Bursa Malaysia perked up in late trade on Wednesday, underpinned by fund buying of Tenaga and plantations while the star of the day was IHH Healthcare.
The FBM KLCI bucked all the key regional markets, which ended the day in the red. At 5pm, the 30-stock index was up 2.52 points or 0.15% to 1,635.09. Turnover was 1.32 billion shares valued at RM2.48bil. There were 298 gainers, 448 losers and 313 stocks unchanged.
IHH Healthcare closed up 29 sen to RM3.09 with 390 million shares done while in Singapore, it ended day up 11.2 cents to S$1.225 with 101m shares done
Wire reports said the euro jumped and European shares turned higher on Wednesday on expectations of more firepower for the euro zone's new bailout fund to resolve the region's deepening debt crisis.
European Central Bank's governing council member Ewald Nowotny said there were arguments for giving Europe's permanent rescue fund a banking licence which would allow it to borrow unlimited ECB money, an idea that the central bank has rejected so far.
However, all the key regional markets fell with Japan's Nikkei 225 down 1.44% to 8,365.90; Hong Kong's Hang Seng Index shed 0.14% to 18,877.33; Shanghai's Composite Index 0.49% to 2,136.15; Taiwan's Taiex 0.42% to 6,979.13; South Korea's Kospi 1.37% to 1,769.31 and Singapore's Straits Times Index 0.3% to 2,990.92.
US light crude oil added three cents to US$88.53 and Brent 18 cents up to US$103.60. Spot gold rose US$7.39 to US$1,588.56.
The ringgit was qupted at 3.1755 to the US dollar.
Crude palm oil for third-month futures inched up RM7 to RM2,933.
Tenaga rose 10 sen to RM6.79, which was sufficient to push the KLCI up 1.28 points. Heavyweight Sime Darby added two sen to RM9.95.
UMS was the top loser, down 17 sen to RM1.95, Carlsberg 16 sen to RM12.26, Lafarge 16 sen to RM7.84, GoldIS 15 sen to RM2.05 and GAB 10 sen to RM13.98.
KPJ Healthcare and its warrants fell 15 sen each to RM5.95 and RM4.18.