Thursday 28 Mar 2024
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KUALA LUMPUR: Smaller telco and WiMAX players were in focus in the morning session on Tuesday, Oct 27 amid cautiousness where key regional markets registered losses of between 0.5% and 1.7%.

At 12.30pm, the FBM KLCI fell 6.9 points to 1,253.02. Turnover was 525.9 million shares valued at RM654.69 million. There were 178 gainers, 408 losers and 191 stocks unchanged.

Among key Asian markets, Singapore's Straits Times Index fell 0.5% 2,703.04, Hong Kong's Hang Seng Index 1.5% to 22,259.52, Shanghai's Composite Index was 1.77% lower at 3,054.54 and Japan's Nikkei 225 was 1.31% lower at 10,227.15.

Light crude oil rose 17 US cents to US$78.85 per barrel and gold added 0.38% to US$1,042.43 per troy ounce but crude palm oil futures fell RM25 to RM2,193 per tonne.

Green Packet, which is expanding its WiMax plans into Singapore, rose 2.5 sen to RM1.02 and the warrants 5.5 sen to 56.5 sen. RedTone, another smaller WiMAX player that reported a turnaround in its financial results, rose 2.5 sen to 26.5 sen.

Smaller IT players rose in active trade, with GHL Systems adding 0.5 sen to 44.5 sen. Mobile-solution provider Nextnation Communication added one sen to six sen after a company official said he was confident it could return to the black with cost-cutting measures undertaken since it slipped into the red two years ago and made worse by the global financial crisis,.

Berjaya Corp-LC was the most active with 31.7 million units done, adding 4.5 sen to 53.5 sen while the shares added 8.5 sen to RM1.04. BCorp-OA added 12.5 sen to RM1.03.

Nestle fell the most, down 20 sen to RM33 while CIMB eased 18 sen to RM12.44, HLFG 13 sen to RM6.31, MISC and Genting, 11 sen each to RM8.94 and RM7.45.

Aliran Ihsan-LA added 17 sen to RM1.29 with 45,700 units changing hands, making it the top gainer, Tanjong and IJM added eight sen each to RM15.28 and RM4.94.

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