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Asian markets surge on coordinated action by global central banks
by hlk Thu 01 Dec 2011, 18:27
KUALA LUMPUR (Dec 1): Asian markets surged on Thursday, while the FBM KLCI briefly crossed the psychologically crucial 1,500-point level at late morning in line with the climb at regional markets.
Regional markets were buoyed by an agreement among global central banks to make cheaper dollar loans available to struggling European banks and news of China's bank reserve requirement cut, according to Reuters.
The FBM KLCI rose 22.32 points to 1,494.42 at the mid-day break, lifted by gains at banking and blue chip stocks.
The index earlier rose to its intra-morning high of 1,502.53.
Gainers led losers 530 to 200, while 259 counters traded unchanged. Volume was 946.87 million shares valued at RM1.02 billion.
The ringgit strengthen 1.04% to 3.1448 versus the US dollar; crude palm oil futures for the third month delivery rose RM60 per tonne to RM3,070, crude oil added 35 cents per barrel to US$100.71 while gold added 13 cents an ounce to US$1,746.50.
At the regional markets, Hong Kong’s Hang Seng Index surged 5.85% to 19,041.36, Taiwan’s Taiex rose 4.17% to 7,191.99, South Korea’s Kospi was up 4.10% to 1,923.33, the Shanghai Composite Index jumped 3.35% to 2,411.53, Japan’s Nikkei 225 rose 2.55% to 8,649.48 while Singapore’s Straits Times Index gained 2.47% to 2,769.13.
On Bursa Malaysia, BAT rose RM1.60 to RM48.10, PPB up 66 sen to RM16.72, Nestle and Dutch Lady up 60 sen each to RM52.50 and RM24.70, Cepco 40 sen to RM1.91, JobStreet 39 sen to RM2.80, MISC 32 sen to RM6.20 while KLK 30 sen to RM21.80.
Among banks, HLFG rose 36 sen to RM11.76, Hong Leong Bank gained 30 sen to RM10.76, Public Bank up 20 sen to RM12.74, Maybank 15 sen to RM8.45, RHB Capital 14 sen to RM7.45, CIMB 12 sen to RM7.26 and AMMB four sen to RM5.98.
Utopia was the most actively traded counter with 65.83 million shares done. The stock rose one sen to 9 sen.
Other actives included Compugates, Extol, GPRO, Karambunai, Hubline, PJI Holdings, YGL and Vastalux.
Decliners this morning included Lafarge Malayan Cement, MSM, SOP, IJM Corp, Sungei Bagan, Southern Steel and Axiata.
Regional markets were buoyed by an agreement among global central banks to make cheaper dollar loans available to struggling European banks and news of China's bank reserve requirement cut, according to Reuters.
The FBM KLCI rose 22.32 points to 1,494.42 at the mid-day break, lifted by gains at banking and blue chip stocks.
The index earlier rose to its intra-morning high of 1,502.53.
Gainers led losers 530 to 200, while 259 counters traded unchanged. Volume was 946.87 million shares valued at RM1.02 billion.
The ringgit strengthen 1.04% to 3.1448 versus the US dollar; crude palm oil futures for the third month delivery rose RM60 per tonne to RM3,070, crude oil added 35 cents per barrel to US$100.71 while gold added 13 cents an ounce to US$1,746.50.
At the regional markets, Hong Kong’s Hang Seng Index surged 5.85% to 19,041.36, Taiwan’s Taiex rose 4.17% to 7,191.99, South Korea’s Kospi was up 4.10% to 1,923.33, the Shanghai Composite Index jumped 3.35% to 2,411.53, Japan’s Nikkei 225 rose 2.55% to 8,649.48 while Singapore’s Straits Times Index gained 2.47% to 2,769.13.
On Bursa Malaysia, BAT rose RM1.60 to RM48.10, PPB up 66 sen to RM16.72, Nestle and Dutch Lady up 60 sen each to RM52.50 and RM24.70, Cepco 40 sen to RM1.91, JobStreet 39 sen to RM2.80, MISC 32 sen to RM6.20 while KLK 30 sen to RM21.80.
Among banks, HLFG rose 36 sen to RM11.76, Hong Leong Bank gained 30 sen to RM10.76, Public Bank up 20 sen to RM12.74, Maybank 15 sen to RM8.45, RHB Capital 14 sen to RM7.45, CIMB 12 sen to RM7.26 and AMMB four sen to RM5.98.
Utopia was the most actively traded counter with 65.83 million shares done. The stock rose one sen to 9 sen.
Other actives included Compugates, Extol, GPRO, Karambunai, Hubline, PJI Holdings, YGL and Vastalux.
Decliners this morning included Lafarge Malayan Cement, MSM, SOP, IJM Corp, Sungei Bagan, Southern Steel and Axiata.
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