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Published: Monday December 10, 2012 MYT 1:27:00 PMUpdated: Monday December 10, 2012 MYT 2:01:19 PM
By Joseph Chin
KUALA LUMPUR: Malaysia's FBM KLCI rose to the highest since Nov 16, fuelled by gains in Axiata and Public Bank, tracking the firmer regional markets following the firmer economic data from China and the US.
At 12.30pm, the KLCI was up 11.27 points or 0.7% to 1,629.04 as investors pinned their hopes on window-dressing by funds. Turnover was 409.37 million shares valued at RM516.76mil. There were 246 gainers, 227 losers and 285 counters unchanged.
Asian shares clambered to a 16-month high on Monday as investors took heart from economic data from China and the US that raised hopes about the outlook for growth in the world's top two economies, Reuters reported.
Among the key regional markets, Japan's Nikkei 225 edged up 0.02% to 9,529.02; Hong Kong's Hang Seng Index added 0.43% to 22,285.70; Shanghai's Composite Index rose 0.48% to 2,071.70; South Korea's Kospi edged up 0.04% to 1,958.21 and Singapore's Straits Times Index climbed 0.68% to 3,128.34. Taiwan's Taiex slipped 0.35% to 7,615.36.
US light crude oil rose 25 cents to US$86.18 and Brent gained 47 cents to US$107.49.
Spot gold climbed US$2.35 to US$1,706.43.
The ringgit weakened against the US dollar at 3.0570 versus 3.0557 the previous day.
At Bursa Malaysia, Axiata rose 19 sen to RM6.17, pushing the KLCI up 3.73 points while UMW and Petronas Dagangan gained 36 sen each to RM11.58 and RM24.
Among the banks, Public Bank rose 14 sen to RM15.78, HLFG 10 sen to RM12.86 and CIMB five sen to RM7.60.
Time dotCom rallied 51 sen to RM4.01 in active trade on its proposed DiGi shares distribution plan.
Crude palm oil (CPO) futures for third month delivery rose RM9 to RM2,306. NSOP rose 17 sen to RM5.90 but PPB Group fell 10 sen to RM11.98.
Exports of Malaysian palm oil products for Dec 1-10 fell 2.8 percent to 504,032 tonnes from 518,688 tonnes shipped during Nov 1-10, Reuters quoted cargo surveyor Intertek Testing Services saying.
Consumer stocks advanced, with BAT up 50 sen to RM59.94, Nestle 40 sen higher to RM11.58 and GAB 16 sen to RM16.30.
Shell fell the most, down 14 sen to RM8.75, Shangri-La 11 sen to RM4.03, Tasek and KYM 10 sen each to RM12.80 and 90 sen.
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