Midday Market KLCI gains 0.5% as Tenaga, UMW lift

Midday Market KLCI gains 0.5% as Tenaga, UMW lift
Business & Markets 2013
Written by Surin Murugiah of theedgemalaysia.com
Wednesday, 17 April 2013 12:39


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KUALA LUMPUR (April 17): The FBM KLCI gained 0.54% at the midday break on Wednesday, in line with the advance at most key regional markets that rose on bargain hunting.

At 12.30pm, the FBM KLCI added 9.36 points to 1,709.89.

Gainers outpaced losers by 381 to 182, while 294 counters traded unchanged. Volume was 480.7 million shares valued at RM846.31 million.

The top gainers in the morning session included Aeon Credit, UMW, Tenaga, Shangri-La, Top Glove, HDBS, BAT and Petronas Gas.

Tanco was the most actively traded counter with 17.76 million shares done. The stock rose one sen to 18.5 sen.

The other actives included Nextnation, Astral Supreme, Tenaga, MISC, Tiger Synergy, Century Software and Tebrau Teguh.

The losers included MISC, Petronas Dagangan, JT International, Kotra, Dutch Lady, Tasek, DKSH, Sarawak Oil Palm and Sarawak Cable.

Risk assets rebounded broadly on Wednesday as a sharp sell-off over the past two sessions lured bargain hunters, with sentiment bolstered by positive American corporate earnings and data supporting the case for ongoing U.S. monetary stimulus, according to Reuters.

The yen resumed its downtrend as markets regained some stability, as investors were seen to be liquidating some of their excessively built-up positions, it said.