GE13: KLCI surges nearly 100 pts after BN wins 133 parliamentary seats

KUALA LUMPUR: Malaysia's blue chips rallied, surging nearly 100
points just after the market opened as Barisan Nasional won 133
parliamentary seats at the 13th general election to record a slightly
reduced performance compared to 2008.
At 9am, the KLCI was up 94.17 points to 1,788.94 -- a fresh all time high.
Turnover was 36.37 million shares valued at RM95.06mil. There were 220 gainers, six losers and 32 counters unchanged.
BIMB
Securities Research said it expected the local bourse to see some
rebound after the Barisan Nasional had successfully defended their
position albeit at a lower majority.
"Therefore, with business
as usual we may see some "feel good factors" seeping in hence the
benchmark index to breach the 1,700 again today," it said.
Meanwhile, Hwang DBS Vickers Research (HDBSVR) said the removal of a political overhang could spark a relief rally on the Malaysian stock exchange today.
"On
the chart, the benchmark FBM KLCI may be on its way to plot fresh
all-time highs, possibly entering the resistance territory of
1,720-1,750 ahead," it said. BAT surged RM3.10 to Rm65.46, PetDag rose
RM1.62 to RZM24.82, PetGas up RM1.44 to RM21, HLFG RM1.06 to RM16.36 and KLK RM1.04 to RM21.98.
CIMB rose RM1.03 to RM8.64, Gamuda 96 sen to RM5 and HL Bank 70 sen to RM15.