Resorts in focus, TMI, CPO higher midday

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KUALA LUMPUR: Resorts World was in focus at midday on March 26 after HwangDBS Vickers Research maintained a buy on the stock while blue chips were traded higher in line with the stronger Asian markets. At 12.30pm, the KL Composite Index had risen 3.84 points to 882.65. Turnover was 239.76 million shares valued at RM318.38 million. There were 217 gainers, 114 losers and 163 stocks flat. Light crude oil rose 50 cents to US$53.27 while crude palm oil futures rose RM26 to RM1,998. Asian markets rose with Hong Kong’s Hang Seng Index adding 2.55% to 13,969.63, Singapore’s Straits Times Index advancing 2.55% also to 1,734.78, Japan’s Nikkei 225 0.76% up to 8,544.48 and the Shanghai  Composite Index rising 0.16% to 2,295.15. At Bursa Malaysia, Resorts rose eight sen to RM2.13 and it was the most active with 21.5 million shares done. HwangDBS Vickers Research maintained its Buy call, target price RM2.60 on Resorts at RM2.05. “Our RM2.60 target price is based on 14.2 times 2010 PE (similar to SARS level), supported by RM2.55 sum-of-parts value,” it said in a research note issued on March 26. TMI rose six sen to RM2.35 after the recent sell-down. Scomi gained three sen to 35.5 sen and Equine four sen to 35.5 sen. Maybank rose eight sen to RM4.34. BAT was the top gainer, adding 50 sen to RM45.75. Uzma added 26 sen to RM1.52 but with only 2,500 shares done. Nestle advanced 25 sen to RM29.50, Astro rose 13 sen to RM2.22, IJM 12 sen to RM4.28 and Bursa 10 sen to RM5.15. Cepco fell 15 sen to RM1.90, Iretex 9.5 sen to 70.5 sen and Aeon six sen to RM3.70.