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Malaysia in Business Today 4th July 2012

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KUALA LUMPUR : The FBM KLCI rose to its all-time high on Wednesday before paring down some of its gains in line with key regional markets and the cautious trade at European markets.

The index closed 6.01 points higher at 1,613.75. The index earlier rose to its intraday high of 1,614.79.

There were 408 gainers and 353 losers, while 331 counters traded unchanged. Volume was 1.08 billion shares valued at RM1.69 billion.
European shares edged back from two-month highs on Wednesday after three days of gains made on hopes of more monetary stimulus from central banks and progress made in dealing with the euro zone debt crisis, according to Reuters.

Activity was expected to be subdued with U.S. markets closed for the Independence Day holiday, and meetings of European Central Bank and the Bank of England policy makers on Thursday, it said.

At the regional markets, Japan’s Nikkei 225 was up 0.41% to 9,104.17, South Korea’s Kospi added 0.35% to 1,874.45, Taiwan’s Taiex was up 0.06% to 7,422.59 and Singapore’s Straits Times Index edged up 0.12% to 2,948,77.

Meanwhile, Hong Kong’s Hang Seng Index fell 0.13% to 19,709.75 and the Shanghai Composite Index shed 0.08% to 2,227.31.

Among the gainers on Bursa Malaysia, KLK rose 70 sen to RM23.90, MBM Resources added 61 sen to RM3.80, BAT up 32 sen to RM56.32, Shell and BLD Plantations added 27 sen each to RM9.57 and RM8.59, Hartalega 26 sen to RM4.35, Kluang 25 sen to RM2.75, Pharmaniaga 24 sen to RM10.80 and Apex 20 sen to RM1.28.

Luster was the most actively traded counter with 106.7 million shares done. The stock fell one sen to 10 wsen.

Other actives included Felda Global, Tricubes, GPRO, Naim Indah Corp, CSL, Ariantec, Trinity and SapuraKencana.

The decliners included Nestle, Warisan, Dutch Lady, Carlsberg, Tan Chong, PPB and Aeon. – Yahoo Finance