Thursday, April 2, 2009

WOW...KL shares end 2.4pc higher...up 20 points today !!!

Malaysia's benchmark Kuala Lumpur Composite Index rose 20.89, or 2.4 per cent, to close at 905.07, the highest level since February 16. The index has gained 4.1 per cent the past three days, the biggest three-day advance since January 6.
Just four stocks fell on the 100-member gauge. In the market, 841 million shares changed hands, higher than the three-month daily average of 411 million shares. April index futures jumped 3.4 per cent to 910.
IOI Corp led gains among Malaysian plantation companies after palm oil futures today jumped 3.2 per cent to the highest since September 26.
IOI, Malaysia’s second-biggest planter, surged 4.1 per cent to RM4.06, the highest level since January 7. Sime Darby Bhd gained 1.7 per cent to RM5.85.

Bumiputra-Commerce Holdings Bhd climbed 5.7 per cent to RM7.40,the highest level since October 15.
Resorts World Bhd, part of Asia’s biggest listed casino operator, surged 3.2 per cent to RM2.23, the highest since February 25, after its affiliate, Star Cruises Ltd., said its loss for 2008 narrowed.
Resorts’ parent, Genting Bhd, advanced 6.4 per cent to RM4.02, the most since November 3.

Sumatec Resources Bhd jumped 17 per cent to 20.5 sen, the most since January 30, 2007.
The Malaysian engineering group and its partner EC Chemical Bio Co have won a US$70.6 million contract to build a bio-ethanol plant in Thailand.
The contract was awarded by Renewable Energy Prachin Co, Sumatec said in a statement after the market closed yesterday.
Tenaga Nasional Bhd, Malaysia’s state-controlled power utility, rose 2.5 per cent to RM6.25, the largest increase since March 19, after JPMorgan Chase & Co said valuations are “bottoming” and that any “material share-price weakness” is an opportunity to buy the stock.

Something to think about...has the market really have already hit the bottom and going upwards again for another bull run? Or this is just a short term technical rebound? Many financial analyst are predicting that it's time to come out and play in the KLSE market while some still thinks that it will take another few more months to see the market bottoms out. I myself predicted that there will be another rally tomorrow as we welcomes our 6th Prime Minister of Malaysia, Datuk Seri Najib Tun Razak. Time to accumulate stocks that are related to him..Hmmm...


HL said...

a good one !!

BH said...

market is very unstable now...1 day up, the next day free careful yea...