TMI snaps 6-day losses, Maybank leads gainers

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KUALA LUMPUR:  TM International snapped the six days of straight losses while Maybank was the top gainer at the midday break on March 19 as investors’ confidence was reinforced by the firmer regional markets. At 12.20pm, the KL Composite Index fell 4.12 points to 852.08. Turnover was 147 million shares valued at RM224.45 million. There were 160 gainers, 133 losers and 198 counters unchanged. Light crude oil neared the US$50 per barrel mark, rising 98 cents to US$49.12 while crude palm oil futures added RM22 to RM1,927. Singapore’s Straits Times Index added 0.7% to 1,586.84 and Hong Kong’s Hang Seng Index inched up 0.1% to 13,125.8 while Shanghai’s Composite Index rose 0.98% to 2,245.48. Japan’s Nikkei 225 fell 0.37% to 7,943.07. TMI rose nine sen to RM2.25. It was the most active with 21.2 million shares done.  It had fallen 37% from RM3.62 on Jan 2. Its share price was battered down by investors recently over the proposed renounceable rights issue of new TMI shares to raise about RM5.25 billion. TMI's extraordinary general meeting (EGM) will be held on March 24. Maybank rose 14 sen to RM4.22 with 4.15 million shares done while Bursa gained 12 sen to RM4.82 and BCHB five sen to RM6.30. MNRB added 12 sen RM2.75. Public Bank foreign lost 10 sen to RM7.50. KL Kepong and Batu Kawan rose 10 sen each to RM10.20 and RM7.70 while Sime added five sen to RM5.55 and IOI Corp unchanged at RM3.78. Resorts added three sen to RM1.93 and Genting 10 sen to RM3.38. Kramat Tin was the top loser, down 28 sen to RM1.32, Nestle fell 25 sen to RM28.75 while LHH gave up 15 sen to 85 sen. Kulim-WB shed six sen to RM2.40 after the sharp gains on March 18. Quill Capita fell 8.5 sen to 81.5 sen after it was downgraded by a local research house.