Monday, November 17, 2008

MISC, Genting lift KLCI out of red

KUALA LUMPUR: Some buying interest in MISC and Genting nudged the 100-stock KL Composite Index into positive zone but trading was relatively thin and the broader market still weak.

At 12.30pm, the KLCI was up just 0.69 point to 882.34. Turnover was 281 million shares valued at RM261mil. Decliners led advancers 232 to 132 while 164 counters were unchanged.

Singapore’s Straits Times Index was 0.29% or 5.11 points lower at 1,754.03 but Hong Kong’s Hang Seng Index added 0.41% to 13,598.84.

Light crude oil was trading at US$56.08, down 96 cents while crude palm oil prices fell RM35 to RM1,425.

MISC rose 20 sen to RM8.50 while QSR, YTL, KFCH and Genting added 10 sen each to RM2.37, RM6.45, RM6.90 and RM4.54 respectively.

KNM was the most active with 40.9 million shares traded. It eased 0.5 sen to 67 sen.

Meico was the top loser, down 21.5 sen to 26 sen with 5,000 shares done. Shell lost 15 sen to RM9.65, United Plantations and Sime Darby shed 10 sen each to RM10.40 and RM6.25.

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