Mid-morning Market KLCI rebounds at mid-morning, reverses earlier loss

Mid-morning Market KLCI rebounds at mid-morning, reverses earlier loss
Business & Markets 2013
Written by Surin Murugiah of theedgemalaysia.com
Tuesday, 11 June 2013 10:12


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KUALA LUMPUR (June 11): The FBM KLCI reversed its earlier loss and rebounded at mid-morning on Tuesday.

At 10.01am, the FBM KLCI gained 2.78 points to 1,790.58.

Gainers led losers by 283 to 198, while 235 counters traded unchanged. Volume was 536.77 million shares value at RM329.82 million.

The top gainers at mid-morning included Country View, GAB, Hartalega, HLFG, Perak Corp, Pintaras, Scientex, Yinson, Astino and HDBS.

Malton was the most actively traded counter with 47.5 million shares done. The stock rose 4.5 sen to 88 sen.

The other actives included Naim Indah Corp, L&G, Daya Materials, Scomi, Luster and Asiapac.

The decliners included BAT, PPB, Golsta, Allianz, Cahya Mata Sarawak, Panasonic, Genting, MESB, Kimlun and Deleum.

Asian shares and the dollar steadied on Tuesday, after Standard & Poor's removed the near-term threat of another credit rating downgrade for the United States, just as data last week pointed to no imminent shift in the Federal Reserve's huge monetary stimulus, according to Reuters.

Still, uncertainty over the timing of the Fed's eventual reduction of its massive bond-buying programme, concerns over China's growth outlook and doubts about the sustainability of Wall Street's rally may cap share prices, it said.