Share prices rebound at mid-day

KUALA LUMPUR, Nov 28 — Share prices on Bursa Malaysia rebounded at mid-day led by gains by banking and telco heavyweights, dealers said.

At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.67 points to 1,604.84, after opening at 1,592.83.

A dealer said the market started to pick up again after the recent persistent selling pressure on blue chip heavyweights forced the index to slide below the 1,600 level yesterday.

"This could signal the beginning of a correction phase," he said.

Among banking heavyweights, CIMB and Hong Leong Bank added four sen each to RM7.54 and RM14.42, and Public Bank earned six sen to RM15.44.

Of the telco heavyweights, Axiata rose 26 sen to RM5.88, Digi garnered 16 sen to RM4.74 and TM chalked up 20 sen to RM5.57.

On the scoreboard, the Finance Index rose 46.06 points to 14,933 while the Plantation Index slipped 4.72 points to 7,862.5 and the Industrial Index fell 20.96 points to 2,660.34.

The FBM Emas Index expanded 38.83 points to 10,930.62, the FBMT100 rose 40.16 points to 10,778.04, the FBM Mid 70 Index went up 22.31 points to 11,945.13 while the FBM Ace Index decreased 8.01 points to 4,183.99.

Losers led gainers by 344 to 267, with 284 counters unchanged, 769 untraded and 45 others suspended.

Volume stood at 663.31 million shares worth RM862.32 million.

Among actives, Malaysia Airlines lost 16 sen to 85 sen, Hiap Huat slipped two sen to 20 sen and MAS-CK:CW fell four sen to 3.5 sen.

Karambunai added one sen to 14 sen while SAAG was unchanged at 0.5 sen.

Of the heavyweights, Maybank, Maxis and Tenaga added two sen each to RM9.04, RM6.39 and RM6.92 respectively.

Sime Darby lost 17 sen to RM9.08 and Petronas Chemicals shed nine sen to RM6.

The FTSE Bursa Malaysia KLCI (FBM KLCI)  futures contracts on Bursa Malaysia Derivatives rebounded strongly at mid-day today in line with the stronger cash market, dealers said.

At 12.30 pm, November 2012 added 8.5 points to 1,606.5, December 2012 rose nine points to 1,608, March 2013 advanced 10 points to 1,607 and June 2013 went up 6.5 points to 1,601.5.

Turnover stood at 16,838 lots while open interest totalled 43,488 contracts.

The underlying FBM KLCI was 6.67 points higher at 1,604.84.

Meanwhile, the three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contracts on Bursa Malaysia Derivatives were untraded as at midday today.

Spot month December 2012, January 2013, February 2013 and March 2013 remained pegged at 96.79, 96.81, 96.83 and 96.84, respectively. — Bernama



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