2007 newS
BURSA MALAYSIA: KL Shares Close Higher As China's Markets Reboun
June 05, 2007 17:42 PM
KUALA LUMPUR, June 5 (Bernama) -- Share prices on Bursa Malaysia closed higher on buying interest in the second half of the afternoon session following a recovery in the Chinese stock markets after a plunge this morning.
The local bourse was higher in the early morning as it took the cue from overnight gains on Wall Street but turned weaker around midmorning as the Chinese markets plunged, a dealer said.
However, the Chinese markets recovered in the late afternoon after talk of support from fund managers, he added.
At 5.00 pm, the Kuala Lumpur Composite Index added 9.32 points to 1,369.50. It had opened 0.92 of a point higher at 1,361.19.
The Second Board Index edged up 1.23 points to 104.02 and the Mesdaq Index gained 2.57 points to 132.54.
The Industrial Index increased 25.37 points to 2,660.18.
The FBMEmas added 41.08 points to 9,149.59 and the FBM30 gained 48.03 points to 8,718.39.
Gainers led losers by 671 to 208 while 244 counters were unchanged, 272 untraded and 36 suspended.
The turnover increased to 1.262 billion shares worth RM2.039 billion from 941.819 million valued at RM1.947 million yesterday.
Among the biggest gainers today were property counters, led by DNP, which recently received the approval to convert its proposed office project in KLCC, Menara DNP, into a luxury condominium project.
DNP was the biggest gainer today, up 77 sen to RM3.02, after a research house rated it a buy as the project is expected to generate an after tax profit of RM320 million.
An analyst said the local bourse is ready for another record high tomorrow, to between 1,370-1,400, if Wall Street remains strong overnight and the Chinese markets rebound further.
In China, the Shanghai Composite Index today closed up 96.70 points to 3,767.10 after a volatile day and talk that the Chinese government ordered fund managers to support the markets there.
On the local bourse's outlook, the analyst said property counters would continue to attract interest in a bullish market on the prospects of strong growth under the Ninth Malaysia Plan.
Among the volume leaders, Petrochina call warrant rose four sen to 15 sen, GPA added 2.5 sen to 22.5 sen, China Mobile call warrant added 1.5 sen to 11.5 sen, Damansara Realty was unchanged at 47 sen and Iris added four sen to 32.5 sen.
Among the blue chips, Tenaga was unchanged at RM11.50, Maybank rose 10 sen to RM12.40, Bursa added 60 sen to RM12.00, Petronas Gas added 40 sen to RM10.40, Digi lost 30 sen to RM21.00 and Sime Darby fell 15 sen to RM9.95.
Volume on the Main Board increased to 773.859 million valued at RM1.798 billion from 670.698 million worth RM1.730 billion yesterday.
Turnover on the Second Board rose to 150.113 million worth RM119.321 million from 105.142 million worth RM118.632 million.
The volume on the Mesdaq Market increased to 146.076 million valued at RM83.746 million from 114.519 million valued at RM77.341 million.
Turnover for call warrants surged to 192.072 million worth RM36.956 million from 51.459 million worth RM20.058 million.
Direct business rose to 133.107 million valued at RM211.323 million from 31.215 million worth RM40.957 million.
On a sectoral basis, consumer products accounted for 35.974 million shares traded on the Main Board, industrial products 87.481 million, construction 79.126 million, trade and services 177.554 million, technology 5.853 million, infrastructure 6.315 million, finance 76.341 million, hotels 6.194 million, properties 179.338 million, plantation 22.624 million, mining 168,000, REITS 2.999 million, closed/fund 75,000, ETF nil and loans 93.817 million.
-- BERNAMA
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