ZLBT Chats

Tuesday, June 8, 2010

BURSA MALAYSIA >>> Market Overview 08 June 2010

FBM KLCI inch 0.15% Higher In Cautious Trading
Stocks on Bursa Malaysia rose 0.15% to close at 1288.18 points on Tuesday. It was another tight trading day as investors remained cautious towards the market after US equity indices fell in overnight trade.
Genting Bhd, Asia’s second-biggest listed casino operator, and AMMB Holdings Bhd rose after JPMorgan Chase & Co recommended investors buying the shares as they stand to benefit from the economic rebound and have fewer “downside risks.”Genting added 1.5 per cent to RM6.91, its steepest gain since June 3. AMMB, a banking group, rose 0.4 per cent to RM4.92, the first advance in three days.
The Finance Index added 0.18% to 11582.65 points, the Properties Index eased 0.16% to 761.87 points and the Plantation Index fell 0.19% to 6083.26 points. The market traded within a range of 5.73 points between an intra-day high of 1290.80 and a low of 1285.07 during the session.
Market breadth was positive with 349 gainers as compared to 271 losers.
Kumpulan Europlus Bhd, a builder, added 8.5 per cent to 89 sen, its highest close since August 9, 2007. The company said it’s still holding discussions with the government on getting more time to complete a financing plan for its proposed West Coast highway project.
Ramunia Holdings Bhd advanced 7.5 per cent to 36 sen, its highest level since April 12. The oil and gas services provider said it appointed Nor Badli Munawir as its chief executive officer. The appointment took effect yesterday, it said in a statement.
Affin Holdings Bhd, a financial services group part-owned by Hong Kong’s Bank of East Asia Ltd, dropped 0.7 per cent to RM2.97, its steepest slide since May 25. The company said the Malaysian central bank is unable to consider its request to start takeover talks with EON Capital Bhd and its major shareholders. EON lost 2.8 per cent to RM7, the most since February 3.
Ingress Corp, an auto-parts supplier, jumped 11 per cent to 60 sen, the largest increase since November 11. The company said its joint venture with Ramusa Engineering Sdn and Multi Discovery Sdn won a RM72 million (US$22 million) contract from power producer Tenaga Nasional Bhd to build a transmission line circuit.
Actively traded stocks include SAAG, IRCB, BJCORP, KEURO, GAMUDA-WD, BJCORP-LC, AFFIN-WC, TALAM, AXIATA and MAYBANK. Trading volume increased to 521.05 mil shares worth RM767.66 mil as compared to Monday's 491.95 mil shares worth RM844.29mil.

No comments:

Post a Comment