KUALA LUMPUR (June 11): The FBM KLCI rose to its highest level since in one month before paring down some of its gains on Monday.
The FBM KLCI closed 7.79 points higher at 1,578.41. It had earlier risen to its intra-day high of 1,582.29 — the highest level since May 11, when it closed at 1,584.32.
There were 418 gainers, 262 losers, while 320 counters traded unchanged. Volume was 732.91 million shares valued at RM1.37 billion.
Most global shares and the euro rose and safe-haven debt fell on Monday after a bailout of up to €100 billion (RM399.96 billion)for Spain's banking sector eased some concern about its ability to survive the eurozone debt crisis, according to Reuters.
The relief from the weekend deal between eurozone finance ministers may be short-lived, however, as investors turn their focus to Greek elections this coming Sunday that could put Athens on a path to leaving the currency bloc, it said.
At the regional markets, the Shanghai Composite Index rose 1.07% to 2,305.86; Hong Kong's Hang Seng Index gained 2.44% to 18,953.63; Japan's Nikkei 225 rose 1.96% to 8,624.90; Taiwan's Taiex added 1.72% to 7,120.23; South Korea's Kospi was up 1.72% to 1,867.04; and Singapore's Straits Times Index rose 1.82% to 2,787.81.
On Bursa Malaysia, the gainers on Monday included Batu Kawan, which rose 70 sen to RM18.96; Nestlé was up 60 sen to RM55; Petronas Dagangan and United Plantations climbed 38 sen each to RM21.12 and RM24.70 respectively; Aeon Credit gained 30 sen to RM10.66; Dutch Lady increased 24 sen to RM33.28; Takaful advanced 23 sen to RM5.11; Carlsberg was higher 22 sen to RM2.42; and Petronas Gas rose 20 sen to RM18.
Gas Malaysia, which made its debut on the main market, was the most actively-traded counter with 87.1 million shares done. The stock jumped 22 sen to RM2.42. Other actives included DSC Solutions, TMS, SapuraKencana, Trinity, Flonic, Globaltec, Ariantec and Naim Indah Corp. Meanwhile, the decliners on Monday included Perduren, Amel, BJ Toto, Toyo Ink, Tahps, Manulife, Panasonic and Tradewinds Plantation.