Published: Wednesday August 29, 2012 MYT 1:22:00 PM
KLCI snaps 4-day losses, Pasukhas surges on debut
By Joseph Chin
At midday, the FBM KLCI was up 1.22 points to 1,648.33. Turnover was 599.47 million shares valued at RM488.59mil. There were 266 gainers, 304 losers and 326 stocks unchanged.
Pasukhas jumped 358% or 43 sen to 55 sen. Its offer price was 12 sen. There were 50.73 million shares done.
Reuters reported the euro, Asian shares and commodities held steady as investors awaited U.S. Federal Reserve Chairman Ben Bernanke's speech to international central bankers gathering in Jackson Hole on Friday and a European Central Bank meeting next week.
Eyes are locked on both events for any signs of further monetary easing to come from Europe and the US.
Among the key regional markets, Japan's Nikkei 225 rose 0.13% to 9,045.07; Hong Kong's Hang Seng Index gained 0.10% to 19,832.55; Taiwan's Taiex 0.36% higher at 7,388.55 while South Korea's Kospi advanced 0.31% to 1,922.24 and Singapore's Straits Times Index gained 0.26% to 3,047.90.
US light crude oil fell 38 cents to US$95.95 and Brent was down three cents to US$112.55. Spot gold gained US$2 to US$1,668.75.
The ringgit weakened against the US dollar to 3.1217.
Crude palm oil for third-month futures fell RM25 to RM3,004. Genting Plantations lost 12 sen to RM9.22 and PPB 10 sen lower to RM13.98 and KLK four sen to RM23.52 but United Plantations added 52 sen to RM27 with 100 shares done.
Consumer dividend stocks were among the top gainers, with Nestle up 42 sen to RM64.40, Dutch Lady 18 sen to RM41.54.
Strong earnings from GAB and Carlsberg saw their share prices climbing, with GAB adding 14 sen to RM15.90 and Carlsberg rising 12 sen to RM12.42.
Among the KLCI stocks, DiGi added seven sen to Rm4.87 and pushed the index up 1.27 points. UMW added 10 sen top RM10.20 and IHH four sen to RM3.15 while Maybank and AMMB gained two sen each to RM9.17 and RM6.35. CIMB edged up one sen to RM7.84.
Sime Darby rose one sen to RM9.81. Its earnings fell 16.2% to RM1.099bil in the fourth quarter ended June 30, 2012 compared with RM1.312bil a year ago. It rewarded shareholders with a dividend of 25 sen a share.
Ta Ann lost eight sen to RM4.06 and Petra Energy eight sen lower also to RM1.93.