KUALA LUMPUR-- Share prices on Bursa Malaysia closed 2/11/2006
higher today with the benchmark Kuala Lumpur Composite Index (KLCI) near a
seven-year high, led by strong gains on blue chips as well as plantation and
finance stocks, dealers said.
The local market was relatively steady despite the sharp decline on Wall
Street overnight, they said.
Local fund-buying support of index-linked counters pushed the index above
the 900-point resistance, closing 5.91 points higher at 995.25 after reaching a
high of 998.57 points. The KLCI had opened 0.19 of a point lower at 989.15.
The Second Board Index edged up 0.27 of a point to 88.55 and the Industrial
Index advanced 6.21 points to 2,086.22 but the Mesdaq Index fell 0.32 of a poin
to 114.78.
Of the FTSE-BM Index series, the FBMEmas increased 31.58 points to 6,472.32
and the FBM30, which comprised the top 30 companies by full market
capitalisation, went up by 41.43 points to 6,417.79.
Gainers beat losers by 434 to 354 while 303 counters were unchanged, 291
untraded and 25 others were suspended.
Trading was fairly active with a total of 880.100 million stocks valued at
RM1.090 billion transacted, up from 768.965 million shares worth RM867.792
million yesterday. -- MORE

BURSA-CLOSING 2 (Last) KUALA LUMPUR

Plantation and finance stocks were higher due to the rise in palm oil prices
and expectations that the banking sector will record better results this year,
dealer said.
"Investors' confidence in the local market has improved and thus the key
index is likely to surpass 1,000 points in coming days," he added.
Karambunai, which resumed trading today, eased 1.5 sen to 16 sen. It was top
of the actives list with 59.750 million shares done.
Among other actives, KBES added two sen to 56.5 sen and Tebrau dropped three
sen to 54 sen.
Pan Malaysian Industries (PMI) edged up 1.5 sen to 5.5 sen on news that
Malayan United Industries planned to buy Metrojaya from PMI for RM273 million.
Malayan United Industries rose 1.5 sen to 19 sen.
Of the plantation stocks, IOI Corporation was the top gainer, adding 50 sen
to RM17.70 while KL Kepong gained 20 sen to RM12.00 and Sime Darby climbed 10
sen to RM6.20.
Among the blue chips, Maybank was unchanged at RM11.10 while Telekom
Malaysia and Tenaga increased 15 sen each to RM8.95 and RM10.10 respectively.
Bumiputra-Commerce went up 15 sen to RM7.00.
PLUS, which planned to acquire a 55 percent stake in an Indonesian company
with a highway concession, fell one sen to RM2.95.
Volume on the Main Board rose to 621.658 million shares worth RM938.119
million compared with yesterday's 539.387 million shares worth RM726.323
million.
Turnover on the Second Board increased to 108.804 million shares worth
RM79.733 million versus 84.429 million shares worth RM68.766 million previously
The Mesdaq Market's volume, however, declined to 124.010 million shares
worth RM62.960 million from 132.748 million shares worth RM67.571 million.
The volume of call warrants widened to 25.628 million shares worth RM9.162
million from 12.401 million shares worth RM5.133 million.
Direct business deals rose to 35.092 million shares worth RM42.688 million
from 32.684 million shares worth RM38.305 million previously.
On a sectoral basis, consumer products accounted for 10.612 million shares
traded on the Main Board, industrial products 58.063 million, construction
42.833 million, trade/services 216.542 million, technology 4.526 million,
infrastructure 11.837 million, finance 60.797 million, hotels 3.275 million,
properties 147.155 million, plantation 15.845 million, mining 800, REITS
579,800, closed/fund 243,700, ETF nil and loans 49.349 millionto

For tomorrow...market higher 1000 points...

For CPO market...correction may down to 1600 levels...

Regard

Anthony Wong