KUALA LUMPUR (June 15): The FBM KLCI stayed in positive territory at mid-morning on Friday, in line with the gains at most key regional markets following the higher overnight close at Wall Street.
Asian shares edged up on Friday, and the euro held firm as nervous investors took comfort from plans for coordinated action by major central banks to stabilise markets if this coming Sunday's election in Greece results in turmoil, according to Reuters.
Global markets have been volatile this week amid uncertainty about the outcome of the poll, which could set Greece on a path out of the eurozone and increase the likelihood of financial contagion engulfing other weak economies in the bloc, it said.
The FBM KLCI rose 4.18 points to 1,575.12 at the mid-day break. There were 323 gainers and 217 losers, while 298 counters traded unchanged. Volume was 411.12 million shares valued at RM646.34 million.
The ringgit strengthened 0.62% to RM3.1664 versus the US dollar; crude palm oil (CPO) futures for the third month delivery rose RM10 per tonne to RM2,860; crude oil added 71 US cents per barrel to US$84.62 (RM268.08); and gold gained US$1.25 an ounce to US$1,624.98.
At the regional markets, Japan's Nikkei 225 edged up 0.10% to 8,577.71; Hong Kong's Hang Seng Index rose 1.3% to 19,052.90; the Shanghai Composite Index gained 0.17% to 2,299.77; Taiwan's Taiex added 0.98% to 7,144.53; and Singapore's Straits Times Index was up 0.50% to 2,787.62. Meanwhile, South Korea's Kospi declined 0.63% to 7,144.53.
Among the gainers on Bursa Malaysia, Nestlé jumped RM3.48 to RM58.68; Pharmaniaga was up RM1.49 to RM6.48; Dutch Lady rose 94 sen to RM34.58; BAT advanced 58 sen to RM55.18; UMW added 27 sen to RM8.66; Jaya Tiasa grew 22 sen to RM8.54; Top Glove added 21 sen to RM4.87; while PPB and MMHE gained 20 sen each to RM15.92 and RM5.30 respectively.
The actives in the morning included Luster, DSC Solutions, Perdana, Supermax, Permaju, Media Prima and Asia Media. Meanwhile, the losers included United Plantations, Degem, Tradewinds Plantation, Maybank, CHHB, Box-pak, Aeon and Batu Kawan.