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Banks nudge blue chips higher
Business & Market 2009
Written by Joseph Chin   
Tuesday, 03 November 2009 13:11
KUALA LUMPUR: Mild fund buying of banking stocks including CIMB and Hong Leong Bank helped steady the overall market and provided some measure of confidence to retail investors in the morning session on Tuesday, Nov 3.

At 12.30pm, the FBM KLCI rose 2.45 points to 1,244.21. However, the overall quality of buying had showed some signs of weakening. Turnover was 790 million units valued at RM583 million. There were 273 gainers, 265 losers and 238 stocks unchanged.

In key regional markets, Hong Kong's Hang Seng Index slipped into the red again, down 0.71% to 21,465.91 while Shanghai's Composite Index rose 1.3% to 3,116.69 and Singapore's Straits Times Index added 0.11% to 2,648.26.

Light crude oil rose just two cents to US$78.15 while US spot gold added US$3.54 to US$1,063.34 but crude palm oil futures for third-month delivery fell RM5 to RM2,216.

Lityan, which was queried by Bursa Securities over its sharp price increase and high volume, rose 45 sen to RM3.15.

M3Nergy added 15 sen to RM1.90 and Green Packet 12 sen to RM1.23 and the warrants 14.5 sen to 87 sen.

Among banks, Hong Leong Bank rose 13 sen to RM7.72, EON Cap 11 sen to RM5.71 while CIMB added six sen to RM12.58, AMMB five sen to RM4.69, Maybank three sen to RM6.73 and Public Bank two sen to RM10.70.

Time was the most active with 70.3 million shares done, easing 2.5 sen to 48 sen. Time dotcom shed one sen to 43 sen.

Petra Perdana fell 24 sen to RM3.60 with 1,100 shares done.  United Plantations 16 sen to RM13.44 while IOI Corp shed one sen to RM5.33. DiGi gave up eight sen to RM21.80.
  Last Updated on Tuesday, 30 November 1999 08:00

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