TMI rises most in a month, Sime, Maybank up

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KUALA LUMPUR: TM International’s share price rose the most in one month at the midday break on March 20 while heavyweights Sime Darby and Maybank also managed to chalk up some reasonable gains. At 12.30pm, the KL Composite Index had risen 0.4 point to 852.58 after staying in the negative zone most of the morning session. Turnover was 140.68 million shares valued at RM212.18 million. There were 126 gainers, 164 losers and 168 counters unchanged. Asian markets were mostly lower, led by the Hang Seng Index which fell 1.6% to 12,923.07 and Shanghai’s Composite Index 0.37% lower at 2,257.27. However, Singapore’s Straits Times Index bucked the key markets by rising 0.5% to 1,592.16. Light crude oil remained above US$50. It eased 86 cents to US$50.75 while crude palm oil price third-month futures gained RM28 to RM1,939. At Bursa Malaysia, TMI was in focus after its upgrade by local research house. It rose the most in a month, adding 11 sen to RM2.35 with 14.62 million shares done. Maybank also benefited from an upgrade, adding eight sen to RM4.34. Sime Darby was 10 sen higher to RM5.55 after The Edge FinancialDaily reported it was leading the race for the Tata franchise. IOI Corp rose two sen to RM3.78 and KL Kepong unchanged at RM10.30. SapuraCrest added three sen to 73.5 sen, Kenanca 10.5 sen to RM1.09, riding on the higher oil price. Maypak was the top loser, down 28 sen to 22 sen and KESM, which undertakes burning for chips, fell 23 sen to RM1.68. Public Bank and its foreign shares fell 15 sen each to RM7.25 and RM7.35. MAS fell 13 sen to RM2.46 on worries about the global aviation industry. MPI fell 12 sen to RM4.78 on weakening outlook for chip markets. Kramat Tin, which ceases trading at 5pm today as it is suspended for failing in its financial revamp, fell 22 sen to RM1.17.