Market Commentary

30 January 2009

The Stocks in Bursa Malaysia closed 3.53 points higher to settle at 883.16 points yesterday following Wall Street's positive close overnight on hopes that Obama administration's plan to stimulate U.S. economy would help revive global growth. The benchmark KLCI index ended the day with only marginal gains, led by bank and plantation stocks. The market was in positive territory throughout the day. However, trading was very thin as many investors still away for the Chinese New Year holidays. Overall, turnover increased to 286.65 million shares valued at RM415.29 million from Wednesday's 213.00 million shares worth RM268.23 million. Leading Movers were IOI CORP (+10 sen to RM3.84), MISC (+15 sen and RM8.55) and KLK (+35 sen to RM9.90). Lagging Movers were HONG LEONG BANK (-10 sen to RM5.15), TMI (-4 sen to RM3.28) and GENTING (-4 sen to RM3.70).Market Breath was positive with 200 advancers as compared to 172 decliners.

Source: JF Apex Securities Bhd