At the close, the benchmark FBM KLCI edged up 0.05% to settle at 1156.43, after falling as low as 1148.26 points during the day. Investor sentiment improved as the day progressed after a weak morning session as the market took its cue from the advances in regional indices. Overall, the market’s focus is on corporate earnings and continued optimism that the economy is recovering as more upbeat economic data from the U.S., China and other countries lifted prospects for an economic recovery in the second half of 2009.
The Finance Index eased 0.06% to 9407.63 points, the Plantation Index lost 0.58% to 5546.16 points and the Properties Index gained 0.70% to 743.11 points.
Actively traded stocks include KNM, SAAG, SCOMI, ASTRAL SUPREME, JASKITA, RAMUNIA, TEBRAU, TA, GSB and DATAPREP. Trading volume declined to 987.32 mil shares worth RM1.22 bil as compared to Friday's 1.04 bil shares worth RM1.57 bil.
Leading Movers were GENTING (+20 sen to RM6.55), PPB (+90 sen to RM14.50), PUBLIC BANK (+10 sen to RM10.30), AMMB (+4 sen to RM3.86) and TANJONG (+40 sen to RM14.70). Lagging Movers were COMMERZ (-10 sen to RM10.10), TENAGA (-10 sen to RM8.05), MAYBANK (-5 sen to RM6.45) and SIME (-5 sen to RM7.90). Market breadth was positive with 455 gainers as compared to 216 losers.
IOI Corp, Malaysia’s second largest palm oil producer, fell 1.7 per cent to RM4.78, making it the worst performer on the stock index. Boustead Holdings Bhd slid 1 per cent to RM3.98, the first drop in three days. Sarawak Oil Palms Bhd lost 0.8 per cent to RM2.36.
Crude palm oil third-month futures was down RM22 to RM2,100 per tonne. Nymex crude oil was 52 cents higher at US$68.57 per barrel. The ringgit was quoted at 3.519 to the US dollar.