SHARE PRICES RETAIN UPTREND AT MID-DAY
KUALA LUMPUR, July 30 -- Share prices on Bursa Malaysia retained their uptrend at mid-day today, boosted by overnight gains on Wall Street and lower crude oil prices, dealers said.
Oil prices dropped to US$123 per barrel on falling demand in the United States.
KUALA LUMPUR, July 30 -- Share prices on Bursa Malaysia retained their uptrend at mid-day today, boosted by overnight gains on Wall Street and lower crude oil prices, dealers said.
Oil prices dropped to US$123 per barrel on falling demand in the United States.
The benchmark Kuala Lumpur Composite Index (KLCI) added 10.90 points to 1,161.70.
Gains in blue chips and lower liners lifted the overall market index, with Maybank one of the major gainers.
At noon break, the Technology Index rose 0.04 of a point to 18.49, the Industrial Index gained 9.05 points to 2,436.02, the Finance Index increased 210.49 points to 9,052.29 and the Plantation Index went up 3.67 points to 6,346.08.
The FBMEmas added 81.26 points to 7,720.22, the FBM30 went up 95.80 points to 7,508.33, the FBM2BRD slipped 33.75 points to 5,432.97 and the FBMMesdaq was 38.88 points higher at 4,384.28.
Gainers led losers by 315 to 177 while 207 counters were unchanged, 656 still untraded and 29 suspended.
Turnover stood at 360.414 million shares worth RM443.749 million.
The local market went into positive territory since the early morning session, rebounding from yesterday's losses as news of a rise in consumer confidence in the US lifted confidence among investors.
However, the market will still remain volatile with the underlying cautious sentiment, dealers warned.
"Threats of the subprime and financial sector crisis in the US is still looming while the prevailing high oil prices will continue to haunt investors," he said.
Among the actives, MRCB rose three sen to RM1.08, Tebrau added one sen to 60sen, AirAsia increased five sen to RM1.12 and MKLand was flat at 21.5 sen.
Yinson, a transportation services and general warehousing facilities solutions provider, went up three sen to 64 sen following the transfer of its shares to the Main Board from the Second Board today.
Of the heavyweights, Maybank gained 45 sen to RM8.00, Telekom eased six sen to RM3.44, Tenaga Nasional rose five sen to RM8.35 and Genting climbed 20 sen to RM5.90.
30/07/2008 01:12 PM
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