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KLCI jumps 1.15%, but Asian markets pare down gains

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KLCI jumps 1.15%, but Asian markets pare down gains  Empty KLCI jumps 1.15%, but Asian markets pare down gains

Post by hlk Thu 13 Oct 2011, 19:37

KUALA LUMPUR: The FBM KLCI extended its gains and closed higher for the third day running on Thursday, Oct 13, while key regional markets eased off a little, as concerns from Europe’s debt crisis as well as weaker Chinese trade data weighed on investor sentiment.

European shares were flat after recent gains and following data showing China's trade surplus narrowed for a second straight month in September, with both imports and exports lower than expected, according to Reuters.

It reflected global economic weakness, which along with the euro zone debt crisis has kept investors avoiding aggressive risk taking over the past months, it said.

The benchmark index jumped 1.15% or 16.37 points to 1,444.87, lifted by

Gainers thumped losers by 677 to 174, while 233 counters traded unchanged. Volume was 1.51 billion shares valued at RM1.96 billion.

At the regional markets, Hong Kong’s Hang Seng Index rose 2.34% to 18,757.81, Japan’s Nikkei 225 gained 0.97% to 8,823.25, the Shanghai Composite Index added 0.78% to 2,438.79, South Korea’s Kospi was up 0.75% to 1,823.10, Taiwan’s Taiex up 0.62% to 7,428.33 while Singapore’s Straits Times Index slipped 0.14% to 2,733.97.

Among the gainers on Bursa Malaysia, BAT rose 90 sen to RM44.50, PPB up 56 sen to RM16.86, MISC 41 sen to RM6.41, DiGi 40 sen to RM30.88, Chin Teck 35 sen to RM8.25, CI Holdings and Ta Ann 25 sen each to RM4.77 and RM4.70, Jaya Tiasa 23 sen to RM5.41, while UOA Development and Genting were up 22 sen each to RM1.50 and RM10.02.

Among the decliners, Asia File fell 24 sen to RM3.55, Glenealy 10 sen to RM5.55, Top Glove and Affin down eight sen each to RM4.12 and RM2.91, while Quality Concrete, Rapid, RHB Capital and Brahims fell six sen each to RM1.34, RM2.02, RM7.44 and 42 sen respectively.

The actives included UOA Development, Timecom, Malton, GPRO, Karambunai, Zelan and Dutaland.
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