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November 04, 2009 13:29 PM
BURSA MALAYSIA: Share Prices Firmer At Midday, Boosted By Gains In Banking Stocks
KUALA LUMPUR, Nov 4 (Bernama) -- Share prices on Bursa Malaysia ended the morning session firmer, boosted by active buying mostly in banking stocks, dealers said.
At noon break, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) rose 6.89 points or 0.555 percent to 1,429.21, pushed by gains mostly in Maybank after it expressed an interest in collaborating with a Turkish bank in Islamic banking Tuesday.
A dealer said news on the possibility of local banks increasing average lending rates gradually for long-term loans had also spurred interest in banking stocks among investors.
The FBM KLCI had opened 0.47 of a point higher today at 1,242.79, compared to Tuesday's close of 1,242.32.
The FBM Emas Index increased 46.739 points to 8,365.64, the FBM Top 100 gained 40.47 points to 8,155.86, the FBM 70 was 22.54 points higher at 8,120.20 and the FBM ACE Index jumped 53.47 points to 4,395.92.
The Finance Index surged 112.07 points to 10,667.33, the Plantation Index fell 8.02 points to 6,056.94 and the Industrial Index added 5.67 points to 2,674.05.
Gainers outnumbered losers by 369 to 186 with 230 counters unchanged and 486 others untraded.
Turnover stood at 645.151 million shares worth RM608.04 million.
For banking stocks, Maybank rose nine sen to RM6.81, Hong Leong Bank gained 17 sen to RM7.90, Public Bank increased 10 sen to RM10.80, CIMB Group added six sen to RM12.62 and RHB Capital was 11 sen higher at RM5.31.
Other gainers were Genting which improved 10 sen to RM7.15 and the Axiata Group which edged up four sen to RM2.98.
For the actives, Time Engineering rose eight sen to 52.5 sen, Time DotCom added three sen to 44.5 sen and Multisports Holdings was 6.5 sen higher at 58 sen.
Among the heavyweights, Sime Darby rose four sen to RM8.91, Tenaga edged up one sen to RM8.41 while IOI Corporation slipped one sen to RM5.33.
-- BERNAMA
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