KL SHARES UP ON TECHNICAL REBOUND

12 Jul 2013 11:19

KUALA LUMPUR, July 9 (Bernama) -- Share prices on Bursa Malaysia rebounded today to close higher in line with the regional markets, dealers said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.62 points to 1,766.49, after opening 4.15 points better at 1,767.02.

The benchmark index hovered between 1,766.23 and 1,769.06 throughout the day, boosted by persistent buying support, especially in blue-chips, led by consumer stocks.

The market breadth was positive with gainers outpacing losers by 466 to 286, with 297 counters unchanged, 527 untraded and 16 suspended.

Turnover increased to 1.51 billion shares worth RM1.84 billion compared with 1.37 billion shares worth RM1.57 billion yesterday.

Most regional bourses showed improvements with key indices rising between 0.2 per cent and 0.6 per cent.

China's Shanghai Composite inched up 0.37 per cent to 1,965.45, South Korea's Kospi rose 0.74 per cent to 1,830.35 and Hong Kong's Hang Seng increased 0.49 to 20,683.01. "Sentiment was boosted by better corporate earning expectations and an upswing in European equities," HwangDBS Vickers Research said in a note.

Back home, the Finance Index added 43.25 points to 16,882.24, Plantation Index increased 0.53 of a point to 8,374.2 and the Industrial Index rose 2.38 points to 2,989.18. The FBM Emas Index gained 28.56 points to 12,318.46, FBMT100 added 24.4 points to 12,060.36, FBM 70 Index increased 27.58 points to 14,198.87 and the FBM ACE Index rose 11.22 points to 4,755.18.

Among actives, Luster Industries was flat at 10.5 sen and Naim Indah rose 2.5 sen to 15.5 sen.

Malaysian Airline, which introduced flights to Kochi, India and reinstated Darwin, Australia as well as Dubai, UAE, gained half sen to 31.5 sen.

In heavyweights, Maybank gained 12 sen to RM10.42, CIMB and Axiata were flat at RM8.24 and RM6.66, respectively. -- MORE

MI THs