Published: Tuesday April 30, 2013 MYT 1:19:00 PM
Maybank leads KLCI higher, broader market lacklustre
By Joseph Chin
KUALA LUMPUR: Maybank helped the FBM KLCI close higher at midday on Tuesday amid a lacklustre market as investors decided to stay on the sidelines ahead of Sunday's polls.
At 12.30pm, the FBM KLCI was up 1.11 points or 0.06% to 1,709.08. Turnover was 305.79 million shares valued at RM712.05mil.
The broader market was cautious with declining stocks beating advancers more than two to one. There were 367 losers, 166 gainers and 283 counters unchanged.
As for key regional markets, they were mostly higher, sending the benchmark index to its highest level since June 2008, as U.S. home sales climbed and investors speculated central banks would extend stimulus measures, according to wire reports.
Japan's Nikkei 225 fell 0.06% to 13,876.09;
Shanghai's Composite Index fell 0.97% to 2,177.91;
Hong Kong's Hang Seng Index rose 0.81% to 22,762.72;
Taiwan's Taiex rose 0.84% to 8,097.48;
South Korea's Kospi rose 1.28% to 1,965,48
Singapore's Straits Times Index rose 0.58% to 3,381.47.
Southern Steel jumped 13 sen to RM1.51 after the group returned to the black with higher third quarter results.
Among the consumer stocks, Nestle was the top gainer, adding 58 sen to RM61.98 but Dutch Lady fell 18 sen to RM46.48 and GAB 12 sen to RM18.54.
Aeon fell 18 sen to RM14.42 and Aeon Credit 14 sen to RM14.36.
The ringgit was firmer against the US dollar at 3.0308 from 3.0326 the previous day.
US light crude oil fell eight cents to US$94.42 and Brent lost 22 cents to US$103.59.
Spot gold fell US$6.34 or 0.43% to US$1,469.50.