KLCI charts all-time record high of 1,635

KUALA LUMPUR: The Malaysian stock market set a fresh record again on
Monday, with the 30-stock FBM KLCI closing at an all-time high of
1,635.96, lifted by gains in heavyweights Tenaga Nasional and Axiata Group.
At
5pm, the KLCI was up 9.58 points or 0.59% to 1,635.96. Turnover was
1.11bil shares valued at RM1.51bil. The broader market was positive
with 476 gainers, 299 losers and 328 stocks unchanged.
Year-to-date,
the KLCI is up 6.87%, underpinned by fund buying of index stocks but
the KLCI is lagging Singapore's Straits Times Index gains of 13.32% and
Thailand's Stock Exchange Index of 18.75% and Philippines's 21.18%.
Key
European markets were mixed. Wire reports said the euro hit a 3-1/2
year low against sterling and German bond prices extended last week's
gains on Monday as investors worried the European Central Bank had changed its stance on how some bondholders could be treated under Spain's bank bailout.
The reports said markets were awaiting testimony from US Federal Reserve Chairman Ben Bernanke later in the week for any hints of new stimulus to help the economy and this tempered price moves.
There
were also signs China's monetary authorities may ease further to
support the slowing economy were supporting oil and other commodities.
Among
the key regional markets, Hong Kong's Hang Seng Index added 0.15% to
19,121.34, Singapore's STI edged up 0.11% to 2,998.75 and South Korea's
Kospi gained 0.27% to 1,817.79.
However, Shanghai's Composite Index fell 1.74% to 2,147.96 and Taiwan's Taiex shed 0.2% to 7,090.04. Japan was closed.
US
light crude oil fell 38 cents to US$86.72 but Brent climbed 25 cents to
US$102.65. Spot gold fell US$4.80 to US$1,584.80. The ringgit was
traded at 3.1758 to the US dollar,
Crude palm oil for third-month futures rose RM53 to RM3,124 per tonne.
At Bursa Malaysia, Tenaga rose 14 sen to RM6.70, adding 1.80 points to the KLCI ahead of its third quarter results on Thursday.
Axiata added 10 sen to RM5.84 and pushed the index up 1.98 points on dividend play. YTL Corp's seven sen gain to RM1.97 nudged the index up 1.22 points.
Nestle rose 20 sen to RM58.22, UMW 19 sen to RM9.99, Aeon Credit 18 sen to RM11.26 while Carlsberg, Petronas Dagangan and Takaful added 16 sen each to RM12.16, RM21.30 amd RM6.52.
Y&G jumped 26 sen to 78 sen with only 200 shares done while SAM Engineering advanced 22 sen to RM3.30.
Cybertowers fell 17 sen to 90 sen, with 1.10 million shares done, extending its losses for the third day.
BAT fell the most, down 40 sen to RM56.50, Shangri-La lost 20 sen to RM3.28.
AT was the most active with 44.46 million shares done, up two sen to 23 sen.