China data lifts Asian markets, KLCI stages firm rebound

KUALA LUMPUR (Jan 17): The FBM KLCI staged a firm rebound on Tuesday as Asian markets mostly rose after data
suggested the world's second-largest economy grew faster than expected in the last quarter of 2011 with a year-on-year
growth of 8.9%.
The FBM KLCI rose 10.30 points to close at 1,519.36, lifted by select blue chips.
Gainers led losers by 433 to 330, while 305 counters traded unchanged. Volume was 1.44 billion shares valued at RM1.79
billion.
At the regional markets, the Shanghai Composite Index jumped 4.18% to 2,298.38, Hong Kong’s Hang Seng Index rose
3.24% to 19,627.75, South Korea’s Kospi was up 1.8% to 1,892.74, Taiwan’s Taiex added 1.65% to 7,221.08, Japan’s Nikkei
225 gained 1.05% to 8,466.40 and Singapore’s Straits Times Index xxx
On Bursa Malaysia, BAT was the top gainer and added 50 sen to RM49.80; Genting rose 44 sen to RM11, Dutch Lady 40
sen to RM25.90, Petronas Dagangan 28 sen to RM17.50, KLK 26 sen to RM24.64, Ibraco 21 sen to RM1.44, Ireka 18 sen
to 79 sen and Genting PLANTATION []s 16 sen to RM9.10.
Proton was the most actively traded counter after Khazanah Nasional Bhd finally put an end to months of speculation and
announced it was divesting its 42.72% Proton stake to DRB-HICOM BHD [] for RM5.50 per share or RM1.291 billion cash.
Upon completion of the sale and purchase agreement, DRB-Hicom will be obliged to undertake a mandatory general offer on
the remaining Proton shares.
Proton rose 23 sen to RM5.41 with 57.5 million shares done. Meanwhile, DRB-Hicom fell seven sen to RM2.10.
Other actives included Maybulk, Compugates, E&O, RedTone, CIMB and DRB-Hicom.
Losers included Tradewinds, GUH, Fiamma, PacificMas seven sen to RM3.48, while Kawan Food and Lysaght lost six sen
each to 87 sen and RM1.64.