KUALA LUMPUR: Shares of Affin Holdings, Boustead and companies in the Hong Leong group rose in early trade on Monday, Nov 16 on market talk of a merger between Hong Leong Bank and Affin Bank.
At 10am, the FBM KLCI rose 4.31 points to 1,275.25. Turnover was 228.04 million shares valued at RM161.05 million. There were 202 gainers, 141 losers and 146 stocks unchanged.
Among key regional markets, Hong Kong's Hang Seng Index opened 1% higher at 22,776.92 while Shanghai's Composite Index added 1.37% to 3,231.39 while Japan's Nikkei 225 rose 0.13% to 9,782.69. Singapore's Straits Times Index added 1.01% to 2,754.66.
Light crude oil rose 74 cents to US$77.09 while US spot gold added US$4.90 to US$1,123.59.
Hwang DBS Vickers Research said the local stock market may overcome the prevailing profit-taking pressures to rise further, albeit in a slow and steady fashion.
"If that is the case, then its benchmark FBM KLCI is expected to test the immediate resistance barrier of 1,280 anytime soon. And the mood on the futures exchange has turned a bit more positive again.
"The spot month FBM KLCI contract has reversed from a discount to a premium position currently, treading 2.0 points above the underlying index level," it said.
HwangDBS Vickers Research said there would be a raft of corporate financial result announcements in the coming week, starting off with retail operator - Parkson Holdings and property investment company - KLCC Property this evening.
Affin jumped 24 sen to RM2.58 with 5.75 million shares done while Affin-WC added 18.5 sen to 33.5 sen with 66.9 million units. Boustead, which is the major shareholder in Affin, added 11 sen to RM3.53. Hong Leong Financial Group added 15 sen to RM6.85 with 200,700 units done.
IJM Plantations jumped 30 sen to 61.5 sen with 898,800 units done. Other gainers were DiGi, up 30 sen to RM22.10 with 100 shares done, KPJ and CIMB gained 18 sen to RM5.12 and RM13.10.
CFM was the top decliner, down 12 sen to 52 sen with 2,000 shares. Nestle fell 10 sen to RM32.70 while Tanjong gave up six sen to RM16.34 and Genting shed four sen to RM7.11
No comments:
Post a Comment