Stock Market Books

Thursday, April 10, 2008

fund buying into KLCI

Some fund buying of big capitalised stocks including Public Bank, Telekom and Bursa lifted the KLCI in the morning session while the ringgit hit a high of RM3.1510 against the US dollar, the highest since it was de-pegged.

At midday, the KLCI was up 6.15 points to 1,233.89; the FBM Emas added 42.2 points to 8,346.24 while the FBM Second Board lost 35.14 points to 5,719.54.

At the end of the day, KLCI was up 20.45 points to 1248.19.

Turnover was 640.107 million shares valued at RM1.40 billion. There were 483 gainers, 194 losers while 245 counters were unchanged.

Major Asian markets were mostly lower, with Japan’s Nikkei 225 sliding 132.76 points or 1.01% to 12,079.13; Singapore’s Straits Times Index lost 0.52% to 3,073.63 while Shanghai’s A Share Index gave up 0.21% to 3,574.11. However, Hong Kong’s Hang Seng Index rose 0.22% to 24,036.87.

Light crude oil futures were trading at US$110.85 (RM353) per barrel, while crude palm oil futures rose RM66 to RM3,391 per tonne.

At Bursa Malaysia, Telekom rose 20 sen each to RM10.80 while Bursa added 25 sen to RM8.70. DiGi and Tanjong added 10 sen and 70 sen each to RM23.70 and RM16.40 respectively.

Litrak rose 14 sen to RM3.88 on its RM1 cash distribution per share plan. Its major shareholder Gamuda added 26 sen to RM3.36.

Asian currencies hit record highs against US dollars. Ringgit is at 3.15 against the dollar which is the strongest since de-peg, Singapore is at 1.362 to a dollar and yuan is at 6.9916.

Wah Seong unit Petro-Pipe (Sabab) gets RM 390 m contract to supply pipes for Sabab-Sarawak gas pipeline.

Singapore’s GDP surged an annualized 16.9% in first quarter, boosted by drug firms, after shrinking 4.8% in quarter, the wire reported.

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