KLCI in the green at midday trade on bargain hunting

by TMR

The local bourse  rose at midday today after five straight days of losses on bargain hunting as global trade and contagion fears persist.

At 12.30pm, the local stock exchange traded 4.12 points higher at 1,799.62, supported by the performance of select blue chip counters.

This was after opening marginally higher by 0.32 points at 1,795.82 before proceeding to trade between a high and low of 1,802.60 and 1,794.79 respectively.

A total of 1.11 billion shares were traded for RM754.91 million throughout the day with losers leading gainers 472 to 251 and 367 counters unchanged and 782 untraded.

Top gainers included Panasonic Manufacturing Malaysia Bhd, Malaysian Pacific Industries Bhd, Aeon Creidt Service (M) Bhd, Padini Holdings Bhd and MI Equipment Holdings Bhd.

Meanwhile, losers were UMS Holdings Bhd, Ajinomoto (M) Bhd, Petron Malaysia Refining & Marketing Bhd, Perusahaan Sadur Timah Malaysia (PERSTIMA) Bhd and Cahya Mata Sarawak Bhd.

Asian markets were largely in the red as Japan’s Nikkei 225 and Korea’s KOSPI were lower at 22,506.87 (down 73.96 points) and 2,288.11 (down 3.66 points) respectively.

Hong Kong’s Hang Seng traded 23.63 points lower at 3,669.58 while Singapore’s STI was down 14.45 points at 3,141.83.

US markets were mixed with the Dow Jones Industrial Average closing 22.51 points lower at 25,974.99 while the S&P 500 rose 8.12 points to close at 2,888.60.