KLCI trades in tight range amid lacklustre market

UALA LUMPUR: Blue chips were marginally higher at the midday break
on Thursday, with the FBM KLCI trading within a three-point range in
the absence of strong leads to attract buying interest. Dealers
said retail investors were staying on the sidelines awaiting the euro
zone crisis to blow over while foreign institutions had been the next
sellers. Trading participation was thin.
Data showed that
institutions bought RM710mil of equities and sold RM594.8mil on
Wednesday while retail investors bought RM225.1mil of equities and sold
RM225.7mil. Foreigners were net sellers, selling RM395.7mil of equities
and buying RM281.1mil.
Reuters reported Asian shares fell as
weak U.S. retail sales data raised fresh concerns about sluggish
economic growth, while an Italian debt auction later in the day will
test market confidence in whether Rome can avoid becoming the next
victim of the euro zone crisis.
At 12.30pm, the FBM KLCI was up
0.11 of a point or 0.01% to 1,576.34. Turnover was 330.98 million
shares valued at RM352.66mil. There were 216 gainers, 274 losers and
287 stocks unchanged.
Among the key regional markets, Japan's
Nikkei 225 fell 0.13% to 8,576.55; Hong Kong's Hang Seng Index slipped
0.5% to 18,930.52; Shanghai's Composite Index 0.33% lower at 2,311.38
and Singapore's Straits Times Index 0.33% lower at 2,777.75.
However, South Korea's Kospi inched up a marginal 0.01% to 1,859.54 and Taiwan's Taiex 0.28% to 7,108.96.
US light crude oil rose 36 cents to US$82.98 and Brent 55 cents to US$97.68. Spot gold added US$4.76 or 0.29% to RM1,621.93.
Crude
palm oil (CPO) futures for third month delivery fell to RM2,898 a tonne
at midday on Thursday, the lowest since Oct 24 last year.
Despite the decline in CPO futures, Genting Plantations rose 11 sen to RM9.27, PPB six sen to RM13.68 and KLK four sen to RM22.90
Among
the index-linked stocks, YTL rose four sen to RM1.93 and added 0.55 of
a point to the KLCI, Genting added six sen to RM9.46, PetChem four sen
to RM6.42.
Among the gainers were Carlsberg, up 20 sen to RM11.26, Dutch Lady 18 sen to RM33.70 and Nestle 10 sen to RM55.10.
Ewein-WA, which was listed on Thursday, rose 13 sen to 13.5 sen.
Petra Energy rose nine sen to RM1.34. News report said there were bidders for Perdana Petroleum's entire 26.9% block in Petra Energy.
Naim Indah Corp
slipped 0.5 sen to 30 sen and it was the most active with 37.20 million
shares done. However, it was off the early low of 27.5 sen after the
deal to acquire Shell Malaysia Trading Sdn Bhd's liquefied petroleum gas (LPG) assets was scrapped.
BAT fell the most, down 20 sen to RM54.46 with 500 shares done, Aeon Credit 18 sen to RM10.50 and MISC 13 sen to RM3.90 while Fajar lost 8.5 sen to 99.5 sen.