Friday 29 Mar 2024
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KUALA LUMPUR: Key Asian markets rose at the midday break on Aug 24, posting gains of nearly 3% after sales of existing homes in the US hit a record and also surging commodity prices.

A run-up in Genting's share price helped nudge the FBM KLCI above 1,270. Nasdaq-listed Empire Resorts, Inc. announced Kien Huat Realty III Ltd, which is controlled by the Lim family, would acquire just under 50% stake in the company for US$55 million

At 12.30pm, the FBM KLCI rose 6.43 points to 1,170.22. Turnover was 319.86 million shares valued at RM424.85 million. There were 325 gainers, 177 losers and 216 stocks unchanged.

The Nikkei 225 rose 2.85% to 10,530.36; Hang Seng Index 1.94% higher at 20,589.97; Shanghai Composite Index advanced 0.68% to 2,980.78; Singapore's Straits Times Index 2.18% higher at 2,600.45 while Taiwan's Taiex jumped 2.98% to 6,853.31.

Crude palm oil futures for third-month delivery rose RM45 to RM2,390. Light crude oil added 36 cents to US$74.25.

At Bursa, Genting rose 17 sen to RM6.44 with 3.59 million shares done.

YTL Cement-LA was the top gainer, up 34 sen to RM2.17 with only 100 shares done. Panasonic Malaysia added 26 sen to RM12.16, and BAT 16 sen to RM44.52.
Lii Henn jumped 17.5 sen to 76.5 sen and Success 14 sen to RM1.13 while Kumpulan Jetson securities rallied, with Jetson-WA adding 23 sen to 79.5 sen, Jetcon-LA 15 sen to RM1.24 and the shares 16 sen higher to RM1.38.

Multi Sports fell 5.5 sen to 63.5 sen and it was the most active with 24.1 million shares done.

Allianz  skidded 39 sen to RM4.11 with just 100 shares done while DiGi, Petronas Gas and Lafarge eased 10 sen each to RM22, RM9.80 and RM6.07 respectively.
Wijaya-WA fell 10.5 sen to 7.5 sen after its largest shareholder Datuk Seri Tiong King Sing faced a RM500 million defamation suit by Transport Minister Datuk Seri Ong Tee Keat.

Ong's lawyers filed the suit against Tiong at the KL High Court on Aug 24.

Tiong alleged during an interview on Aug 12 that Ong had taken a RM10 million donation from him. Among the reliefs sought by Ong includes RM500 million in damages, an injunction against Tiong or his agents from repeating the allegation, a withdrawal of the allegation and a public apology.

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