Kuala Lumpur shares close higher - UPDATE 3/1/2007
- Share prices closed significantly higher on the
first trading day of the new year, with gains led by plantation stocks and
blue chips, dealers said.
The Kuala Lumpur Composite Index (KLCI) closed the day up 20.85 points or
1.86 pct at 1,117.09.
Gainers outnumbered losers 588 to 284, with 240 stocks unchanged and 211
counters untraded.
Trading volume was 974.96 mln shares valued at 1.51bln rgt.
Blue chips such as Genting and Digi.com also helped lift the market,
gaining 1.25 rgt or 3.79 pct to 34.25 and 0.80 rgt or 5.26 pct to 16.00,
respectively.
Among the heavyweights, Tenaga gained 0.30 rgt or 2.75 pct to 11.20, TM
added 0.35 rgt or 3.59 pct to 10.10 while Maybank was flat 11.80.
Rashid Hussain Bhd (RHB), RHB Capital and majority shareholder Utama
Banking Group were all higher as the market continued to speculate that
Utama's negotiations to sell its controlling stake in RHB to Kuwait Finance
House in a merger deal will go through.
RHB was up 0.05 rgt at 1.50, RHB Cap up 0.14 rgt or 4.09 pct at 3.56, and
Utama up 0.04 rgt or 2.72 pct at 1.51.
The New Straits Times Press (M) Bhd (NSTP) and Utusan Melayu (M) Bhd were
higher on renewed speculation that a merger deal involving the two firms may
materialize in the near term.
NSTP was up 0.08 rgt or 3.45 pct at 2.40 and Utusan rose 0.09 rgt or 6.43
pct to 1.49.
Elsewhere, AirAsia Bhd was sharply higher on speculation that the budget
carrier may launch cheap flights to the UK in partnership with some European
carriers, dealers said.
AirAsia was up 0.11 rgt or 7.28 pct at 1.62.

For tomorrow...bull run will beach new high...target 1300 points...

For CPO Market...correction toward 1800 levels...