KLCI stages mild rebound, CIMB leads


  • Business
  • Thursday, 27 Feb 2014

KUALA LUMPUR: Malaysia’s blue chips staged a mild rebound in early Thursday trade, as investors snapped up CIMB after the heavy selling in late trade on Wednesday.

At 9.02am, the KLCI was up 2.52 points to 1,825.07. Turnover was 72.70 million shares valued at RM32mil. There were 133 gainers, 74 losers and 146 counters unchanged.

Analysts expect the KLCI set to stage a technical rebound after a sudden drop in the last minutes of trading yesterday.

“On the chart, the bellwether is expected to overcome the immediate support-turned-resistance level of 1,825 ahead,” said Hwan DBS Vickers Research.

On the external front, Reuters reported emerging markets were rattled by escalating tensions in Ukraine, sending investors scurrying to the safety of the dollar and US Treasuries.

At Bursa Malaysia, CIMB managed to recoup most of its losses to climb 17 sen to RM7.07 after the late fund selling on Wednesday. Public Bank foreign rose 10 sen to RM19.20 in thin trade.

Aeon rose 22 sen to RM13.68 and Gamuda eight sen higher to RM4.51.

DKSH jumped 23 sen to RM7.23 after its net profit surged three fold in the latest quarter to RM128mil, boosted by the sale of property.

Unisem fell 10.5 sen to 96.5 sen in active trade after it sank deeper into the red in its fourth quarter. The chip maker recorded RM90mil in impairment and write-off charges.

Tenaga Nasional was down 10 sen to RM11.84 while hospital operator, IHH healthcare, which is due to release its results on Thursday, lost seven sen to RM3.72.

KSL fell the most, down 24 sen to RM2.18 and its warrants were down 22 sen to RM1.08. It swung into the red in the fourth quarter with net losses of RM10.54mil compared with earnings of RM35.18mil a year ago.

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KLCI , rebound , CIMB , KSL

   

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