KUALA LUMPUR: Selected fund buying of heavyweight banking stocks lifted the KLCI in the morning session on Monday but the breadth of the market was still lacklustre and trading volume remained thin.
At 12.30pm, the KLCI was up 6.78 points to 2,295.84, the FBM Emas added 48.72 points to 8,093.02 and the FBM Second Board advanced 0.34 point to 5,634.94.
Turnover was 215.52 million shares valued at RM398mil. There were 259 gainers, 244 losers while 208 counters were unchanged.
In Asia, Singapore’s Straits Times Index was the top gainer, rising 2.63% or 74.26 points to 2,899.17; Japan’s Nikkei 225 rose 0.39% to 12,531.43 while South Korea’s Kospi added 0.39% to 1,652.05. Taiwan’s Weighted Index added 3.73% to 8,843.02 after a new government was voted in. However, Shanghai’s A Share Index fell 1.86% to 3,910.35.
Meanwhile, JPMorgan Chase was in talks to raise its offer for Bear Stearns, the beleaguered investment bank, to US$10 from US$2 earlier, in a move to pacify angry Bear shareholders, according to the New York Times website.
Light crude oil was trading at US$100.15 per barrel.
At Bursa, BCHB rose 35 sen to RM9.80, Maybank added 25 sen to RM8.85 while Public Bank gained 15 sen to RM10.10.
MISC and its foreign tranche rose 25 sen each to RM8.15 and RM8.10 respectively, Tanjong added 20 sen to RM15.60 while UEM World gained 16 sen to RM3.22 .
Kencana, which saw Tan Sri Quek Leng Chan emerging as a substantial shareholder, rode 15 sen to RM1.54.
Aeon Credit rose 20 sen to RM3.28 but the department store operator Aeon Co. lost 10 sen to RM9.40.
Liqua was the most active with 10.8 million shares done. It rose one sen to 16 sen.
Crude palm oil futures rose RM151 to RM3,486 per tonne for the third-month delivery. However, plantation stocks fell with KL Kepong the top loser, down 40 sen to RM15.60 while IOI Corp and Sarawak Oil Palms lost 20 sen each to RM6.55 and RM5.20.
At the end of the trading share, KLCI closed at 1201.02 (11.96)
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