ZLBT Chats

Tuesday, January 4, 2011

Malaysian Stocks Closes At All Time High For New Year

FBM KLCI Closes At Record High
In an unprecedented move, the FTSE Bursa Malaysia KLCI (FBM KLCI) breached the psychological mark to end at a new high for the second consecutive day, fueled mainly by gains in plantation stocks.

The market barometer gained 18.47 points or 1.2 per cent to end at 1,551.89 in brisk trading. It opened 1.15 points higher at 1,534.57.

Positive vibes from most regional equities market, supported by overnight gains on Wall Street, prompted the momentum here, said a dealer.

"A strong signal of a global economic recovery, as more statistics emerge indicating that the United States economy is gaining strength, has served as tonic to boost the local bourse," he said.

Yesterday, data released in the US indicated that the manufacturing sector grew in December at its fastest pace in seven months, reinforcing recovery signs.

News reports stated that US automobile sales also probably grew at the fastest pace since 2009 in December as well as employment increase for a third month.

Regionally, the Hang Seng Index rose one per cent to 23,668.48, Japan''s benchmark Nikkei finished 1.7 per cent higher at 10,398.10.

The benchmark Shanghai Composite Index, which tracks both A and B shares, ended up 1.6 per cent to 2852.65 and closer to home, Singapore's Straits Times Index ended 14.52 points higher at 3,250.29.

On Bursa Malaysia, the Finance Index climbed 136.87 points to 14,116.32, the Industrial Index increased 53.84 points to 2,930.08 and the Plantation Index surged 146.28 points to 8,279.61.

The FBM Emas Index jumped 121.75 points to 10,613.49, the FBM Ace Index perked 35.23 points to 4,394.72 and the FBM70 Index gained 106.67 points to 11,169.58.

Advancers thumped decliners 637 to 233 while 262 counters were unchanged, 249 untraded and 30 others were suspended.

Total volume surged to 2.011 billion shares, worth RM2.88 billion, from last Monday's 1.608 billion shares valued at RM2.09 billion

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