Market Commentary02 September 2010Stocks on Bursa Malaysia rose 0.64% to close at 1441.07 points on late buying of index-linked stocks, tracking gains in Asian equity markets as sentiment was boosted by overnight gains on Wall Street amid reports of improved manufacturing in the U.S. and China. The Finance Index added 0.47% to 12949.83 points, the Properties Index surged 1.03% to 855.76 points and the Plantation Index climbed 0.78% to 6642.50 points. The market traded within a range of 10.09 points between an intra-day high of 1441.80 and a low of 1431.71 during the session. Actively traded stocks include KNM, JCY, UEMLAND, TIMECOM, BJCORP, AIRASIA, ZELAN, LINEAR, AXIATA and TEJARI. Trading volume increased to 1075.05 mil shares worth RM1872.98 mil as compared to Wednesday's 949.22 mil shares worth RM2076.97 mil. Leading Movers were IOI (+8 sen to RM5.38), MMC (+24 sen to RM2.77), PUBLIC BANK (+8 sen to RM12.22), GENTING (+9 sen to RM9.48) and PETD (+80 sen to RM11.60). Lagging Movers were PLUS (-1 sen to RM4.13), AXIATA (-1 sen to RM4.54), PETRONAS GAS (-8 sen to RM10.72), MAXIS (-1 sen to RM5.37) and DIGI (-2 sen to RM24.64). Market breadth was positive with 511 gainers as compared to 256 losers. |
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Source: JF Apex Securities Bhd |
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