KUALA LUMPUR: Blue chips ended the morning session higher in thin trade on Monday, on some fund nibbling on large capitalised defensive consumer stocks and plantations but TM International fell on its debut.
TM International, which focuses on the cellular phone operations and overseas ventures, fell 15 sen to RM7.70. It was the most active with 17.6 million shares. TM, which focuses on fixed lines operations, lost four sen to RM3.54.
At 12.30pm, the KL Composite Index had risen 5.98 points to 1,294.06, the FBM Emas added 27.9 points to 8,731.42 but the FBM Second Board fell 22.32 points to 5,886.45.
Turnover was 242.05 million shares valued at RM501.17mil. There were 245 gainers, 291 losers while 224 counters were unchanged.
Asian markets were mixed, with Hong Kong’s Hang Seng Index up 0.37% or 94.81 points to 25,611.59, Singapore’s Straits Times Index added 0.33% to 3,199.85 but Japan’s Nikkei 225 lost 0.63% to 13,775.66 and Shanghai A Share Index declined 1.98% to 3,659 after the rally last week.
Light crude oil was near the record high of US$120 (RM378) per barrel after BP Plc shut a North Sea pipeline and gunmen attacked police guarding Nigeria's largest oil and gas terminal. It was trading at US$119.30 per barrel.
Crude palm oil futures rose RM39 to RM3,458 per tonne.
The ringgit was quoted at RM3.153 to the US dollar.
On Bursa Malaysia’s performance, analysts said most of the smaller players were staying on the sidelines while there was some mild buying of selected blue chips.
WCT-WB surged 40.5 sen to 92.5 sen with 4.04 million units done. The warants were issued at an offer price of 25 sen to WCT shareholders on the basis of one warrant for every five shares held.
Defensive stocks including PPB added 30 sen to RM10.90, BAT and Nestle 25 sen each to RM42.75 and RM31.50. DiGi and Tanjong rose 20 sen each to RM24 and RM16.40.
Plantation-based KL Kepong rose 20 sen to RM17, Chin Teck 15 sen to RM7.70 while Glenealy added 10 sen to RM5.20.
However, there was some trading interest in Saujana Consolidated which is being taken over by Peremba at RM1 per share. Saujana shares surged 21 sen to 92 sen.
Quality Concrete was the top loser, down 34 sen to RM1.20 while Cepco lost 30 sen to RM3.02. Timber stock Jaya Tiasa rose 20 sen to RM3.80 but Ta Ann lost 30 sen to RM7.60.
ETI Tech lost 14 sen to RM2.18 as investors took profit after last Friday’s run-up when a Dubai investment group bought into the Mesdaq company. SAAG-WA fell 22 sen to RM2.41 and the shares lost 12 sen to RM4.24.
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