KLCI up 12.63 points on regional recovery (update)

KUALA LUMPUR: The FBM KLCI closed higher at noon as investors are confident of the regional recovery, cushioned by a rebound in US equities on the back of upbeat economic.

At 12.30pm, the KLCI surged 12.60 points to 1,755.47. Gainers beat losers 493 to 176 and 268 were unchanged. Turnover was 1.03 billion valued at RM976.07mil.

Bloomberg reported Asian stocks climbed, after the regional benchmark index yesterday erased this year's gain, as US economic data beat estimates and on concern eased that the Federal Reserve will reduce record stimulus.

At the Bursa Malaysia, selected blue chips were among the gainers,Nestle up 72 sen to RM65.78, Dutch Lady 48 sen to RM 47.70, Carlsberg 44 sen to RM15.64 but BAT fell 74 sen to RM61.26.

Among the banks, HLFG rose 24 sen to RM14.24, Maybank 10 sen to RM10.14, Public Bank two sen to RM16.98, CIMB three sen to RM8.16 but Hong Leong Bank fell four sen to RM13.74.

Among Petronas-linked stocks, PetChem rose 15 sen to RM6.15, PetDag six sen to RM25.08 but PetGas fell eight sen to RM20.76.

Crude palm oil shed RM7 to RM2417 but Sime Darby rose five sen to RM9.51, FGV two sen to RM4.51 but PPB fell six sen to RM13.54.

Genting Bhd rose 16 sen to RM10.50 and Axiata 12 sen to RM6.60 butTop Glove fell 12 sen to RM6.23 after its third quarter profit was down.

The ringgit strengthened against the dollar at 3.123 from the previous close of 3.1335

Among the key regional markets, Japan's Nikkei 225 rose 2.98% to 12,815.64;

Hong Kong's Hang Seng Index rose 0.99% to 21,093.5;

Shanghai's Composite Index rose 0.23% to 2,152.96;

Taiwan's Taiex fell 0.16% to 7,939.09;

South Korea's Kospi rose 0.16% to 1,885.70;

Singapore's Straits Times Index rose 0.83% to 3,156.67

US light crude oil fell six cents to US$96.63 and Brent fell 23cents to US$104.72

Spot gold fell US$1.20 cents to US$1,384.95

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KLCI , Up , Regional Recovery


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