SHARE prices on Bursa Malaysia closed higher today in line with the uptrend on regional markets led by gains on Wall Street overnight, dealers said.
The benchmark Kuala Lumpur Composite Index (KLCI) closed 16.69 points higher at 896.64 led by gains on banking and plantation related stocks. It opened 5.17 points higher at 885.12.
Hong Kong’s share surged three per cent, The Korea Composite Stock Price Index ended 2.75 per cent higher at 1,210.26 points, the highest close since January 7 and Japan’s Nikkei was up 1.6 per cent.
A dealer said investors were hoping that the economic stimulus measures in the US would mitigate the global economic slowdown.
The FBMEmas was 111.75 points higher at 5,871.13, the FBM30 rose 119.77 points to 5,794.02, the FBMMesdaq declined 20.13 points to 3,375.45 and the FBM2BRD increased 18.29 points to 3,925.11.
Gainers outnumbered losers by 322 to 156, while 195 counters closed unchanged, 584 untraded and 33 others suspended.
Turnover increased to 397.7 million shares valued at RM664.16 million from yesterday’s 315.92 million shares worth RM466.5 million.
Lafarge Malayan Cement Bhd rose 38 sen, or 11 per cent, to RM3.74, the biggest gainer on the stock index, on speculation the government’s proposed economic stimulus package will spark demand.
The government said the plan will be much bigger than November’s RM7 billion (US$2 billion) package and will be proposed in the form of a mini-budget, state news service Bernama reported today.
The measures will be announced in Parliament, it said. Parliament resits on February 16, according to the house’s Web site.
Ann Joo Resources Bhd, a steelmaker, climbed 8 sen, or 7 per cent, to RM1.22, Lion Industries Corp, a rival steelmaker, added 3.5 sen, or 5.5 per cent, to 67.5 sen.
IOI Corp, Malaysia’s second-biggest planter, advanced 16 sen, or 4.4 per cent, to RM3.84, the largest increase since January 5.
Kuala Lumpur Kepong Bhd added 50 sen, or 4.8 per cent, to RM11, the highest since September 8.
Sime Darby Bhd rose 20 sen, or 3.7 per cent, to RM5.60. Palm oil futures gained as much as 3.4 per cent in Malaysia. They have risen as much as 7.3 per cent this week, set for the first weekly gain in four.
AMMB Holdings Bhd climbed 4 sen, or 1.8 per cent, to RM2.28, the biggest advance since January 5.
The Employees Provident Fund, Malaysia’s largest pension fund, bought 2.5 million shares in the country’s fifth-largest bank, lifting its stake to 14.2 per cent, a stock exchange filing showed.
Johor Land Bhd rose for a ninth day, gaining 1 sen, or 9.9 per cent, to RM1.22, its highest level since January 30, 2008, and it’s the longest winning streak since December 8, 1997.
Johor Corp bought 10.2 million shares in the Malaysian property developer and oil-palm grower, boosting its stake to 49.8 per cent, a stock exchange filing showed.
KNM Group Bhd added 1.5 sen, or 3.5 per cent, to 44 sen, the most since January 28. The oil and gas equipment supplier said it has converted a 150 million-euro (US$192 million) term loan into a three-year loan of RM702.7 million.
The loan will be used to fund the acquisition of Borsig GmbH.
The loan is from Malayan Banking Bhd, it said in a statement.
SP Setia Bhd advanced 18 sen, or 5.8 per cent, to RM3.28, the biggest gain since April 21.
Permodalan Nasional Bhd, a state fund manager, bought 290,000 shares in Malaysia’s biggest property developer, lifting its stake to 6.45 per cent, a stock exchange filing showed. - Agencies
The benchmark Kuala Lumpur Composite Index (KLCI) closed 16.69 points higher at 896.64 led by gains on banking and plantation related stocks. It opened 5.17 points higher at 885.12.
Hong Kong’s share surged three per cent, The Korea Composite Stock Price Index ended 2.75 per cent higher at 1,210.26 points, the highest close since January 7 and Japan’s Nikkei was up 1.6 per cent.
A dealer said investors were hoping that the economic stimulus measures in the US would mitigate the global economic slowdown.
The FBMEmas was 111.75 points higher at 5,871.13, the FBM30 rose 119.77 points to 5,794.02, the FBMMesdaq declined 20.13 points to 3,375.45 and the FBM2BRD increased 18.29 points to 3,925.11.
Gainers outnumbered losers by 322 to 156, while 195 counters closed unchanged, 584 untraded and 33 others suspended.
Turnover increased to 397.7 million shares valued at RM664.16 million from yesterday’s 315.92 million shares worth RM466.5 million.
Lafarge Malayan Cement Bhd rose 38 sen, or 11 per cent, to RM3.74, the biggest gainer on the stock index, on speculation the government’s proposed economic stimulus package will spark demand.
The government said the plan will be much bigger than November’s RM7 billion (US$2 billion) package and will be proposed in the form of a mini-budget, state news service Bernama reported today.
The measures will be announced in Parliament, it said. Parliament resits on February 16, according to the house’s Web site.
Ann Joo Resources Bhd, a steelmaker, climbed 8 sen, or 7 per cent, to RM1.22, Lion Industries Corp, a rival steelmaker, added 3.5 sen, or 5.5 per cent, to 67.5 sen.
IOI Corp, Malaysia’s second-biggest planter, advanced 16 sen, or 4.4 per cent, to RM3.84, the largest increase since January 5.
Kuala Lumpur Kepong Bhd added 50 sen, or 4.8 per cent, to RM11, the highest since September 8.
Sime Darby Bhd rose 20 sen, or 3.7 per cent, to RM5.60. Palm oil futures gained as much as 3.4 per cent in Malaysia. They have risen as much as 7.3 per cent this week, set for the first weekly gain in four.
AMMB Holdings Bhd climbed 4 sen, or 1.8 per cent, to RM2.28, the biggest advance since January 5.
The Employees Provident Fund, Malaysia’s largest pension fund, bought 2.5 million shares in the country’s fifth-largest bank, lifting its stake to 14.2 per cent, a stock exchange filing showed.
Johor Land Bhd rose for a ninth day, gaining 1 sen, or 9.9 per cent, to RM1.22, its highest level since January 30, 2008, and it’s the longest winning streak since December 8, 1997.
Johor Corp bought 10.2 million shares in the Malaysian property developer and oil-palm grower, boosting its stake to 49.8 per cent, a stock exchange filing showed.
KNM Group Bhd added 1.5 sen, or 3.5 per cent, to 44 sen, the most since January 28. The oil and gas equipment supplier said it has converted a 150 million-euro (US$192 million) term loan into a three-year loan of RM702.7 million.
The loan will be used to fund the acquisition of Borsig GmbH.
The loan is from Malayan Banking Bhd, it said in a statement.
SP Setia Bhd advanced 18 sen, or 5.8 per cent, to RM3.28, the biggest gain since April 21.
Permodalan Nasional Bhd, a state fund manager, bought 290,000 shares in Malaysia’s biggest property developer, lifting its stake to 6.45 per cent, a stock exchange filing showed. - Agencies
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