KUALA LUMPUR: The FBM KLCI remained in positive territory at midday Friday as investors pick up heavyweights such as Malayan Banking Bhd, Genting Bhd and Bumiputra Commerce Holdings Bhd.

At 12.30pm the benchmark composite index was up 3.93 points to 1,177.59.

Regional markets, however, were mixed at midday.

Tokyo’s Nikkei 225 lost 0.20% to 10,194.30 while Seoul’s Kospi Index was marginally lower, slipping 0.12% to 1,611.57.

Shanghai’s A share Index added 0.20% to 2,850.75 and Hong Kong’s Hang Seng Index rose 0.53% to 19,867.37.
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KUALA LUMPUR: Shares in IJM Corp and Lafarge Cement tumbled on Friday, on worries that the counters exclusion from the new main stock index would limit their appeal to investors.

The exchange will introduce a trimmed down market benchmark called the FTSE Bursa Malaysia KLCI on Monday. The new index consisting selected top 30-counters will replace the old 102-strong KL Composite Index (KLCI).

The KLCI closed 6.02 points lower at 1,072.69 on its last day. The new FBM KLCI, which is essentially the re-branding of the existing FBM 30 index, will start at a reference price based on KLCI’s Friday close.

The exchange is expecting a “seamless” transition on Monday.

In the market, shares in IJM Corp dropped 50 sen, or 8.6% to RM5.30 on volume of 3.1 million shares transacted. Lafarge Cement sagged 25 sen, or 4.2% to RM5.75.
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MALAYSIAN fund manager Public Mutual expects gains in Malaysian equities following the government’s massive pump-priming and the central bank furiously cutting interest rates to boost growth.

Public Mutual, the country’s largest private fund management firm by assets, sees buying opportunities in banks, consumer staples as well as cyclical stocks that tend to move up first when the economy recovers, said its CEO Yeoh Kim Hong.

“The local equity market is currently supported by below-trend valuations, easing inflationary pressures, expansionary fiscal and monetary policy,” said Yeoh, who helps manage RM23 billion (US$6.4 billion) at the firm.
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KUALA LUMPUR: Asian markets started the new month on a weak note on March 2, with the key indices registering losses of more than 4% on March 2 while at Bursa Malaysia, selling of bank stocks sent the 100-stock KL Composite Index down to its lowest in five weeks.

At 12.30pm, the KLCI was down 17.83 points or 2% to 872.84. Turnover was 211 million shares done valued at RM302 million. Declining stocks hammered advancers more than seven to one, there were 376 losers, 50 gainers and 125 counters unchanged.

South Korea’s Kospi fell 4.32% to 1,017.1, Japan’s Nikkei 225 lost 4.09% to 7,259.03, and Singapore’s Straits Times Index lost 3.27% at 1,542.71 while Hong Kong’s Hang Seng Index skidded 3.83% to 12,321.04.

Light crude oil fell US$1.06 to US$43.70 while crude palm oil futures shed RM1 to RM1,875.
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KUALA LUMPUR: The KLCI and major indices in the East Asian region were up at midday Thursday as China announced it will widen measures to bolster the economy.

The KLCI gained 0.05% to 877.24 while across the Causeway, Singapore’s Straits Times Index was 0.60% higher at 1,717.71. Tokyo’s Nikkei 225 rose 0.385 to 8,069.55 while Seoul’s Kospi Index was 0.67% higher at 1,203.43.

Hong Kong’s Hang Seng Index gained 2.69% to 13,414.70 and Shanghai’s A share index was up 1.77% on the news of the stimulus package.
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KUALA LUMPUR, Feb 5 (Bernama) — The Kuala Lumpur Composite Index (KLCI) futures contracts on Bursa Malaysia Derivatives closed mixed on Thursday, taking the cue from the easier cash market, dealers said.

At close, February 2009 increased 1.5 points to settle at 877.0, March 2009 rose half a point to 871.5, June 2009 was unchanged at 852.0 and September 2009 declined 2.5 points to 837.5.

The day’s volume increased to 4,597 lots from yesterday’s 4,251 lots while open interests also increased to 20,849 contracts from 20,228 contracts previously.

The underlying KLCI ended the day 3.15 points higher at 879.95.

– BERNAMA

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A FURTHER decline in loan applications and approvals has turned investors away from banking stocks.

As at 4pm yesterday, the finance index on Bursa Malaysia had fallen more than 36 points but managed to bounce back to close 2.01 points higher at 6,912.13.

In early trade, most banking stocks fell at least 0.5% with Bumiputra-Commerce Holdings Bhd leading the loss. The counter fell more than 2.4% to RM6.15 in the morning but ended 10 sen higher at RM6.40. Public Bank Bhd gained 5 sen to RM8.80, Alliance Financial Group Bhd put on 3 sen to RM1.89 while EON Capital Bhd added 2 sen to RM3.46.

Among the losers were Malayan Banking Bhd and Hong Leong Bank Bhd, both down 5 sen to RM5.25 and RM5.10 respectively. RHB Capital Bhd shed 4 sen to RM3.68 while AMMB Holdings Bhd slipped 3 sen to RM2.29.
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KUALA LUMPUR: Blue chips on Bursa Malaysia fell in early trade on Friday, in line with the weaker Asian markets after US indices closed lower on concerns on weaker earnings.

At 9.30am, the KL Composite Index had fallen 7.56 points to 875.6. Turnover was thin with only 23 million shares done valued at RM35.6mil. There 37 gainers, 97 losers while 59 counters were unchanged.

Light crude oil eased to US$41.42 while the ringgit weakened against the US dollar to RM3.606.

Asian markets fell with the Nikkei 225 down 3.5% or 288 points to 7,962.47, Singapore’s Straits Times Index shed 0.72% to 2,089.89.

In the US, the S&P 500 Index fell 3.31% to 845.14 while the 30-stock Dow Jones Industrial Average shed 2.7% to 8,149.

Mayban Investment Equities Research said for the KLCI, the support areas of 867 and 883 for might be areas to nibble, and the resistance areas of 885 and 903 may cap the market rebound.
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PETALING JAYA: Plantation, finance and key heavyweight stocks pushed the Kuala Lumpur Composite Index higher yesterday despite lacklustre trading as investors in an extended holiday mood remained on the sidelines.

At 5pm, the KLCI was up 0.40%, or 3.53 points, to 883.16. Trading volume, however, was relatively thin, at 286.65 million shares valued at RM415.29 million. Gainers led losers by 200 to 172, while 181 counters traded unchanged.

The top gainer was Kuala Lumpur Kepong Bhd, which added 35 sen to close at RM9.90. IOI Corporation Bhd, United Malacca Bhd and United Plantations Bhd rose 10 sen each to RM3.84, RM5.70 and RM10.20, respectively.

Other plantation stocks that rose included Far East Holdings Bhd, Asiatic Development Bhd, IJM Plantations Bhd and Boustead Holdings Bhd.

Among finance counters, Bumiputra-Commerce Holdings Bhd gained 10 sen to RM6.30, Hong Leong Financial Group Bhd was up eight sen to RM4.58, EON Capital Bhd rose six sen to RM3.44 while Malayan Banking Bhd (Maybank) added five sen to RM5.30.

Other counters that rose yesterday included Bina Goodyear Bhd, Puncak Niaga Holdings Bhd, MISC Bhd and Petronas Gas Bhd.
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PETALING JAYA: The KL Composite Index (KLCI) fell below the 900 level yesterday, taking the cue from the US market on Wednesday which plunged following fresh concerns of a global recession.

The KLCI finished 1.75%, or 16.01 points, down at 897.45 following heavy selling of blue-chip stocks.

Other Asian markets that skidded were Hong Kong, Taiwan and Japan where the Hang Seng closed 3.37% lower at 1,3242.96, Taiex dipped 4.44% to 4,320.77 and the Nikkei fell 4.92% to 8,023.31 respectively.

European markets also traded lower in early trade yesterday.

On the currency front, the yen continued to strengthen against major currencies. Against the ringgit, the yen traded the highest in memory.

“As expected,” Pong Teng Siew, research head at Jupiter Securities Sdn Bhd, said of the fall of the KLCI yesterday.

“This is a trading market. If investors want to go in for the long term, they should be prepared for episodes of sell-downs like that every now and then.
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