KLCI surges to highest since Sept 2008

Tags: Heavyweights | Plantations

Written by Surin Murugiah

Wednesday, 20 May 2009 10:40

KUALA LUMPUR: Fund buying of key heavyweights and PLANTATION [] stocks pushed the KL Composite Index up 1.7% on May 20, the highest since September last year following the run-up on oil and crude palm oil prices.

The KLCI was the top performer as regional Asian markets rose only marginally following the overnight fall at Wall Street. At 10am, the KLCI had risen 16.99 points to 1,040.48. Turnover was 479.61 million shares valued at RM415.64 million. Gainers led losers by 295 to 65, while 145 counters traded unchanged.

US stocks closed mixed on May 19, following an unexpected drop in homebuilding that clouded the economic outlook. The Dow Jones Industrial Average lost 0.34% or 29.23 points to 8,474.85, the S&P 500 Index fell 0.17% to 908.13 while the Nasdaq Composite Index added 0.13% to 1,734.54.

Over at the regional markets, Japan's Nikkei 225 added 0.43% to 9,330.46, South Korea's Kospi Index rose 0.03% to 1,428.66 while the Singapore Straits Times Index lost 0.45% to 2,250.69. Hong Kong's Hang Seng Index opened 0.1% down at 17,519.72 before recovering later.

Among the major gainers at Bursa Malaysia were PPB GROUP BHD [], KUALA LUMPUR KEPONG BHD [], SIME DARBY BHD [], MALAYAN BANKING BHD [], BUMIPUTRA-COMMERCE HOLDINGS [] Bhd, TENAGA NASIONAL BHD [], KULIM (M) BHD [] and IOI CORPORATION BHD [].

PPB and KLK added 40 sen each to RM11.40 and RM11.70, respectively; Sime Darby and Maybank were up 25 sen each to RM6.95 and RM5.30 respectively while BCHB and Tenaga rose 15 sen each to RM9.05 and RM7.45, respectively. Kulim rose 15 sen to RM6.20 and IOI Corp added 14 sen to RM4.62.

CONCRETE ENGINEERING PRODUCTS [] Bhd fell the most, plunging 87 sen to RM2.43; Shell Refining Company (Federation of Malaya) Bhd lost 10 sen to RM10.40, DOLOMITE CORPORATION BHD [] fell 8 sen to 20 sen while BERJAYA LAND BHD [] lost 6 sen to RM3.18.

RAMUNIA HOLDINGS BHD [] was the most active with 23.4 million shares done. It fell 3.5 sen to 62.5 sen. Other actively traded stocks included KNM GROUP BHD [], SCOMI GROUP BHD [] and SAAG CONSOLIDATED (M) BHD [].

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Last Updated on Wednesday, 20 May 2009 10:41

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