Business News

Published: Friday February 8, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 1:47:45 AM

Tenaga, IOI lift KLCI as trading volume shrinks

KUALA LUMPUR: Some fund buying of key stocks including Tenaga and plantation heavyweight pushed the FBM KLCI higher at the midday break but trading volume shrunk ahead of the long weekend ahead for the Chinese New Year holidays.

At 12.30pm, the FBM KLCI was up 3.5 points or 0.22% to 1,623.07. Turnover shrunk to 278.30 million shares valued at RM544.28mil compared with 445.08 million shares valued at RM734.84mil as at noon on Thursday.

Advancing counters beat decliners 249 to 209 while 263 counters were unchanged.

Reuters reported Asian shares edged up on Friday after China's trade data for January handily beat forecasts to underscore a recovery trend, but prices were capped by investors seeking to book profits before next week's Chinese new year holidays.

The MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent, wiping earlier losses when bearish sentiment was carried over from overnight after European Central Bank President Mario Draghi noted risks still facing the euro zone economy. The pan-Asian index rose to a 18-month high on Monday.

Among the key regional markets, Japan's Nikkei 225 fell 1.41% to 11,196.38. However, Hong Kong's Hang Seng Index rose 0.11% to 23,202.63; Shanghai's Composite Index added 0.34% to 2,426.82 and South Korea's Kospi 0.9% higher at 1,949.23 while Singapore's Straits Times Index gained 0.26% to 3,270.22.

Crude palm oil for third-month futures inched up RM1 to RM2,552. KL Kepong rose 10 sen to RM21.22 and IOI Corp four sen to RM4.83 but Sime Darby slipped two sen to RM9.25.

Genting Bhd added seven sen to RM9.66 and Genting Malaysia five sen to RM3.75. Tenaga rose five sen to RM6.98 and Axiata gained two sen to RM6.26.

Among the banks, HL Bank added eight sen to RM14.42, AMMB five sen to RM6.44 and Maybank two sen to RM8.99 but HLFG shed eight sen to RM13.48.

Among the consumer stocks, Nestle rose 18 sen to RM59.58 with 100 shares done, Carlsberg added 12 sen to RM11.98 but BAT fell 36 sen to RM57.44 and Dutch Lady 30 sen to RM42.10.

Tasek lost 22 sen to RM13.98 and PetDag 10 sen to RM22.40.

DanaInfra ETBS was the top gainer, up RM1.40 to RM101.40.

The ringgit weakened against the US dollar to 3.1028 from 3.0918.

Tags / Keywords: News, Business, KLCI, Tenaga, trading volume, Business

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