Heavyweights lift FBM KLCI

Share prices on Bursa Malaysia closed mostly higher Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) staying above the 1,200-point level, driven by gains of heavyweights, dealers said.

The FBM KLCI rose 4.11 points to be at 1,207.47 after opening 0.46 of a point lower at 1,202.9 in the morning.

According to the dealers, the rise in US stocks as well as those on regional Asian bourses helped to support the positive sentiment.

The rise encouraged investors on Bursa Malaysia to strengthen their positions after Monday's losses, they said. US stocks went up on Monday, driven by news that China's sovereign wealth fund was eyeing a stake in US power company AES.
At close on Bursa Malaysia, the FBMEmas gained 33.88 points to 8,113.73, the FBM Top 100 increased 33.32 points to 7,911.38, the FBM70 added 58.85 points to 7,987.81 and the FBM Ace Index went up 27.48 points to 4,035.65.

The Technology Index rose 0.10 of a point to 16.24, the Finance Index advanced 10.939 points to 9,838.14, the Plantation Index fell 18.08 points to 5,908.98 and the Industrial Index was 20.74 points higher at 2,645.33.
Advancers led decliners by 348 to 242 while 259 counters were unchanged and 405 untraded.
Volume was higher at 613.785 million shares worth RM1.008 billion compared to 547.726 million shares worth RM951.261 million Monday.

Among the actives, KNM Group rose five sen to 74.5 sen, MLABS System declined one sen to 17.5 sen, Kumpulan Jetson Warrants added 17 sen to 94 sen and SAAG Consolidated advanced half sen to 24 sen. Of the heavyweights, PPB Group gained 28 sen to RM15.84, Tanjong Public Limited rose 26 sen to RM15.98, Tenaga Nasional increased 17 sen to RM8.39 and MISC added nine sen to RM8.99.
Main Board turnover increased to 540.991 million shares worth RM990.532 million from 461.034 million shares worth RM933.110 million previously.

FKLI >>> Meanwhile, the FBM KLCI futures ended higher yesterday, as the market recouped yesterday’s losses following the steadier cash market, dealers said.
September 2009 rose six points to 1,211, October 2009 increased 6.5 points to 1,209.5, December 2009 rose 5.5 points to 1,208 and March 2010 gained 5.5 points to 1,203. Turnover was lower at 2,602 lots compared to 4,135 lots on Monday while open interests increased to 16,780 contracts from 16,307 contracts previously.

FCPO >>> CRUDE palm oil futures prices on Bursa Malaysia Derivatives ended higher yesterday on price adjustment after yesterday ’s big fall, dealers said.
“It ‘s an adjustment in an oversold condition,” one of the dealers said, adding that fundamentals remained weak as export figures for the first 15 days of September is projected to be around 529,980 tonnes, down from 665,314 tonnes inAugust.
At close, the CPO futures for September 2009 added RM33 to RM2,174, October 2009 rose RM38 to RM2,149, November 2009 jumped RM30 to RM2,100 and December 2009 increased RM26 to RM2,090.
On the physical market, September South declined to RM2,160 per tonne from RM2,170 per tonne on Monday.