PETALING JAYA: The KL Composite Index (KLCI) rose above 1,100 points again for the first time in two weeks, lifted by a sharp rebound by battered blue-chip stocks. At the close, the benchmark was up 30.04 points, or 2.8%, to 1,100.50 - the biggest single-day gain since mid-March.

Budget 2009 unveiled yesterday included a personal tax rate cut and measures designed to put money back into the people’s pockets and boost consumer spending.

Shares in Malayan Banking Bhd and Bumiputra-Commerce Holdings Bhd, the country’s top two financial groups, rose 45 sen each to RM9.40 and RM7.45 respectively. Public Bank Bhd added 30 sen to RM10.20.

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KUALA LUMPUR, Aug 27 (Bernama) — The Kuala Lumpur Composite Index (KLCI) futures contracts on Bursa Malaysia Derivatives were higher in early trading Wednesday following the firmer cash market, dealers said.

At 9.41 am, August 2008 increased 5.5 points to to 1,071.5, September 2008 advanced five points to 1,060.0 and December 2008 gained 8.5 points to 1,047.5.

A total of 10,801 lots changed hands.

On the cash market, the underlying KLCI increased 5.48 points to 1,075.98 at 9.44 am, after opening 1.15 points higher at 1,071.65.

– BERNAMA

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THE KL Composite Index (KLCI) rebounded from an early round of weakness boosted by recovery in palm oil plantation stocks and settled the week with moderate gains.

Anticipation of a reduction in petrol prices and positive sentiment ahead of the Aug 29 budget report encouraged bargain hunting in some index-linked stocks.

The KLCI rebounded from its 2008 lows of 1,064.50 points and set a week’s high of 1,096.15 before finishing slightly higher at 1,085.60, up 9.45 points or 0.86% from a week earlier.

Strong recovery in crude palm oil prices and the positive impact on oil palm plantation stocks supported the index’s rebound last week.

IOI Corp and KL Kepong ended with gains of 37 and 60 sen respectively and contributed a combined 5.47 points to the index. Sime Darby regained earlier losses and closed down 10 sen. Commerce and PLUS Expressway ended higher.

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KUALA LUMPUR: Blue chips fell at midday on Tuesday, dragged down by losses in key stocks like Tenaga, BCHB and IOI Corp, mirroring the declines on Asian markets on concerns of worsening credit crisis in the US.

At 12.30pm, the KLCI was down 10.5 points to 1,068.23. Turnover was 115.29 million shares valued at RM217.45mil. There were 74 gainers, 273 losers and 168 counters unchanged.

Asian markets were lower at their midday break, with Shanghai’s A Share Index the major loser, down 1.99% or 50.52 points to 2,482.91, Hong Kong’s Hang Seng Index fell 1.10% to 20,872.01, Japan’s Nikkei 225 0.72% lower at 12,786.41 and Singapore’s Straits Times Index 1.33% lower at 2,697.15.

Light crude oil rose 29 US cents to US$115.40 while crude palm oil futures fell RM115 to RM2,485 per tonne, off the intra-morning low of RM2,465.

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KUALA LUMPUR: Plantations and bank stocks including Maybank and BCHB nudged the KL Composite Index higher at midday on Friday but trading volume was still thin.

At 12.30pm, the KLCI had risen 8.59 points to 1,080.02. Turnover was 142.8 million shares valued at RM291mil. There were 206 gainers, 166 losers while 206 counters were unchanged.

Light crude oil was trading at US$121.30 per barrel while the third-month crude palm oil (CPO) futures rose RM75 to RM2,728 per tonne.

Among Asian stock exchanges, Shanghai’s A Share Index fell 2.61% ot 66.62 points to 2,486.01, while Japan’s Nikkei 225 lost 0.74% to 12,657.55 but Singapore’s Straits Times Index edged up 0.15% to 2,717.41. Hong Kong’s markets were closed due to a tropical storm.

The recovery in commodity prices, including CPO, generated investors’ interest in plantation stocks. KL Kepong rose 40 sen to RM12.10 while heavyweight IOI Corp added 21 sen to RM5.05.

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KUALA LUMPUR, Aug 22 (Bernama) — The Kuala Lumpur Composite Index (KLCI) futures contracts on Bursa Malaysia Derivatives were mostly higher in early morning trade Friday back by gains on cash market, dealers said.

At 9.35am, August 2008 rose 12.5 points to 1,070.5, September 2008 jumped 12.0 points to 1,061.0 while December 2008 added 11.0 points to 1,044.5 and March 2009 was unchanged at 1,019.0.

A total of 682 lots were traded with open interests at 33,078.

The benchmark Kuala Lumpur Composite Index rose 7.44 points to 1,078.87.

– BERNAMA

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KUALA LUMPUR, Aug 19 Asia Pulse - IOI Corporation Berhad (KLSE:1961) has chalked up a 55.5 per cent leap in pre-tax profit for the twelve months ended 30 June 2008, contributed largely by its plantation and resource-based manufacturing segments following a jump in crude palm oil (CPO) prices and volume.

Its pre-tax profit rose to RM3.1 billion (US$930.9 million) from RM1.99 billion in the previous year.

The higher profit was achieved on revenue of RM14.67 billion, which represented a 63.8 per cent surge from RM8.95 billion previously.

Earnings per share climbed to 36.85 sen from 24.13 sen previously.

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KUALA LUMPUR, Aug 19 Asia Pulse - Malaysian Airline System Bhd (MAS) (KLSE:3786) Monday posted interim pre-tax profit of RM195.259 million (US$58.6 million), down 25.9 per cent from a year ago due to higher operating expenses arising from soaring fuel prices.

Revenue for the six months ended 30 June 2008 however climbed 7.1 per cent to RM7.53 billion from RM7.03 billion.

Earnings per share dropped to 9.58 sen from 17.56 sen.

In the second quarter, pre-tax profit declined 48.7 per cent to RM60.970 million from RM118.942 million in the previous corresponding quarter.

Revenue rose 8.5 per cent to RM3.777 billion from RM3.482 billion, the national flag carrier said in a filing on Aug 18.

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KUALA LUMPUR, Aug 19 (Reuters) - Telekom Malaysia (TLMM.KL: Quote, Profile, Research, Stock Buzz), the country’s top fixed-line operator, reported on Tuesday a 61 percent drop in quarterly profit.

Telekom Malaysia, which has a more than 90 percent share in the fixed-line and broadband market, earned 273.17 million ringgit ($81.82 million) in the second quarter ended June 30. That compared with a net profit of 701 million ringgit or 20.5 sen a share in the year-ago period.

Telekom Malaysia was expected to post a 68 percent drop in full-year profit to 808.55 million ringgit or 23.5 sen a share, according to Reuters Estimates.

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KUALA LUMPUR: The market continued its downward trend at midday Tuesday with region-wide weak sentiment mainly due to Wall Street’s woes and lack of support on the local front affecting the performance of the local bourse.

At 12.30pm, the KLCI was down 14.86 points to 1,069.50. Turnover was 193.96 million shares valued at RM309.87mil. There were 77 gainers, 393 losers and 173 counters unchanged.

Asian markets were mainly in the red with Tokyo’s Nikkei 225 shedding 321.11 points to 12,844.34, Hong Kong’s Hang Seng Index down 115.97 to 20,814.70 and Singapore’s Straits Times Index down 31.66 points to 2,745.32. However, Shanghai’s A Share Index added 4.26 points to 2,324.13.
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