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Tuesday, October 19, 2010

BURSA MALAYSIA >>> FBM KLCI Technical Rebound

KL Shares Firmer, Oversea Markets Mixed

Stocks on Bursa Malaysia rose 0.54% to close at 1488.65 points on mild bargain hunting, tracking firmer overseas markets. The Finance Index added 0.47% to 13425.07 points, the Properties Index climbed 0.62% to 962.04 points and the Plantation Index rose 0.49% to 7412.92 points.

The market traded within a range of 5.73 points between an intra-day high of 1488.77 and a low of 1483.04 during the session. Actively traded stocks include KBUNAI, JOTECH, HUBLINE, PLUS, AGLOBAL, MKLAND, AXIATA, TIMECOM, HWGB and ASIAPAC.
Konsortium Logistik opened one sen higher at RM1.53 on resumption of trading today after being suspended on Monday. At 5pm, it stood two sen higher at RM1.54. Ekuiti Nasional has signed an agreement to acquire a 56.5 per cent stake in the logistics services provider for RM206.6 million. The proposed acquisition, to be undertaken at RM1.55 a share, would trigger a mandatory general offer.
Trading volume increased to 1499.66 mil shares worth RM1819.54 mil as compared to Monday's 1330.54 mil shares worth RM1610.37 mil.

Leading Movers were GENTING (+28 sen to RM10.38), MAYBANK (+6 sen to RM8.91), SIME (+6 sen to RM8.87), PUBLIC BANK (+6 sen to RM12.64) and IOI (+4 sen to RM5.79). Lagging Movers were AXIATA (-1 sen to RM4.47), TELEKOM (-2 sen to RM3.39), MMC (-3 sen to RM3.02), DIGI (-6 sen to RM24.46) and HONG LEONG BANK (-2 sen to RM9.18). Market breadth was positive with 438 gainers as compared to 369 losers. Trading volume on warrants shed to 82.43 million units worth RM16.4 million from the 95.88 million units valued at RM17.14 million previously.
Volume on the ACE Market, however, rose to 104.28 million shares worth RM30.235 million against the 81.638 million shares worth RM29.523 million on Monday. Consumer products accounted for 42.871 million shares traded on the Main Market, industrial products 229.540 million, construction 57.887 million, trade and services 311.007 million, technology 21.613 million, infrastructure 30.450 million, finance 60.868 million, hotels 2.622 million, properties 485.487 million, plantations 30.861 million, mining 1.162 million, REITs 19.881 million and closed/fund 49,600.

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