KLCI pares down gains at mid-day break

KUALA LUMPUR: The FBM KLCI pared down some of its gains at the mid-day break on Monday, Oct 17 as investor sentiment remains cautious despite key regional markets staying in positive territory.

Asian markets were mostly up, underpinned by hopes over steps to tackle the euro zone debt crisis.

The FBM KLCI rose 1% or 14.40 points to 1,456.83, lifted by gains select blue chips and index-linked PLANTATION [] counters. The index had earlier rise to its intra-morning high of 1,461.84.

Gainers led losers by 538 to 163, while 215 counters traded unchanged. Volume was 885.25 million shares valued at RM803.61 million.

The ringgit strengthened 0.28% to 3.1214 versus the US dollar; crude palm oil futures for the third month delivery added RM7 per tonne to RM2,922, crude oil gained 19 cents per barrel to US$86.99 while gold rose US$2.38 an ounce to US$1,683.10.

At the regional markets, Hong Kong’s Hang Seng Index rose 1.54% to 18,786.37, Japan’s Nikkei 225 up 1.46% to 8,875.98, Taiwan’s Taiex added 1.2% to 7,446.64, South Korea’s Kospi up 1.19% to 1,857.27, Singapore’s Straits Times Index added 0.93% to 2,769.75 while the Shanghai Composite Index edged up 0.18% 2,435.66.

On Bursa Malaysia, Petronas Dagangan was the top gainer this morning and added 44 sen to RM16.76.

Among plantations, KLK added 40 sen to RM21.10, Sime Darby 10 sen to RM8.65, IOI Corp six sen to RM5.09 and PPB up two sen to RM16.94.

Other gainers included Panasonic that added 30 sen to RM20.50, BAT and MMHE 24 sen each to RM44.90 and RM6.14, AirAsia 22 sen to RM3.61, P.I.E up 20 sen to RM3.65, YTL Land 19 sen to RM1.25 and CBIP 18 sen to RM3.80.

Harvest Court was the most actively traded counter with 29 million shares done. The stock rose three sen to 17.5 sen.

Other actives included MAA, YTL Land, Ramunia, Karambunai and HWGB.

Among the losers, APM Automotive fell 14 sen to RM4.46, Century and Nestle 10 sen each to RM1.55 and RM49.20, Top Glove nine sen to RM4.01 and PacificMas down eight sen to RM3.07.