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KL shares mixed at midday
by hlk Wed 24 Aug 2011, 14:16
Share prices on Bursa Malaysia shrugged off the decline on key regional markets to end the morning trade higher but gains were confined to heavyweights and defensive stocks.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 3.67 points to 1,486.04, but off its morning high of 1,487.27.
It had opened 2.78 points higher at 1,485.15.
Asian markets saw their earlier gains supported by Wall Street's overnight performance, wiped out, after Moody's downgrade of Japan's credit rating to Aa3 from Aa2, citing weak growth prospects for the world third largest economy.
Japan's Nikkei shed 0.09 per cent to 8,725.32, Hong Kong's Hang Seng Index dropped 0.81 per cent to 19,714.52, Singapore's Straits Times Index eased 0.28 per cent to 2757.48 and
Taiwan’s Taiex was down 0.19 per cent to 7,518.42.
Key US equity indices rose between three per cent and 4.3 per cent, primarily on expectations that the Federal Reserve chairman could be announcing fresh policy responses to stimulate the struggling US economy.
"However, the fundamentals remain fragile with growth in developed nations faltering, keeping investors jittery and stock markets volatile," said an analyst, adding, it would take sometime before confidence is restored.
He said there was limited room for any change to take place fast.
Bursa Malaysia's Finance Index jumped 47.14 points to 14,157.12, the Plantation Index rose 42.93 points to 7,332.87 and the Industrial Index slipped 7.05 points to 2,744.41.
The FBM Emas Index appreciated 19.31 points to 10,157.43, the FBM70 Index was up 9.49 points to 11,061.71 and the FBM Ace eased 6.34 points to 3,791.4.
Decliners led advancers by 316 to 243 while 264 counters were unchanged and 656 others untraded.
A total of 391.250 million shares worth RM714.076 million were traded.
Axiata was the most active counter, easing three sen to RM4.95, while Sunway Warrants added 30 sen to 61 sen and AirAsia shed seven sen to RM3.55.
For the heavyweights, Maybank jumped seven sen to RM8.77, CIMB slid one sen to RM7.78, Petronas Chemicals climbed nine sen to RM6.32, IOI Corp advanced six sen to RM4.70 and Public Bank rose eight sen to RM13.10. -- Bernama
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 3.67 points to 1,486.04, but off its morning high of 1,487.27.
It had opened 2.78 points higher at 1,485.15.
Asian markets saw their earlier gains supported by Wall Street's overnight performance, wiped out, after Moody's downgrade of Japan's credit rating to Aa3 from Aa2, citing weak growth prospects for the world third largest economy.
Japan's Nikkei shed 0.09 per cent to 8,725.32, Hong Kong's Hang Seng Index dropped 0.81 per cent to 19,714.52, Singapore's Straits Times Index eased 0.28 per cent to 2757.48 and
Taiwan’s Taiex was down 0.19 per cent to 7,518.42.
Key US equity indices rose between three per cent and 4.3 per cent, primarily on expectations that the Federal Reserve chairman could be announcing fresh policy responses to stimulate the struggling US economy.
"However, the fundamentals remain fragile with growth in developed nations faltering, keeping investors jittery and stock markets volatile," said an analyst, adding, it would take sometime before confidence is restored.
He said there was limited room for any change to take place fast.
Bursa Malaysia's Finance Index jumped 47.14 points to 14,157.12, the Plantation Index rose 42.93 points to 7,332.87 and the Industrial Index slipped 7.05 points to 2,744.41.
The FBM Emas Index appreciated 19.31 points to 10,157.43, the FBM70 Index was up 9.49 points to 11,061.71 and the FBM Ace eased 6.34 points to 3,791.4.
Decliners led advancers by 316 to 243 while 264 counters were unchanged and 656 others untraded.
A total of 391.250 million shares worth RM714.076 million were traded.
Axiata was the most active counter, easing three sen to RM4.95, while Sunway Warrants added 30 sen to 61 sen and AirAsia shed seven sen to RM3.55.
For the heavyweights, Maybank jumped seven sen to RM8.77, CIMB slid one sen to RM7.78, Petronas Chemicals climbed nine sen to RM6.32, IOI Corp advanced six sen to RM4.70 and Public Bank rose eight sen to RM13.10. -- Bernama
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