FBM KLCI closes higher on Monday

The week started with a lot of cautious trading on Bursa Malaysia after the recent turn of events in Europe and the American market. But there was some positive news as the FBM KLCI closed on a high note when at the close, it peaked at 1,499.74 points. This was partly due to the main heavyweight shares of Maybank and TNB that lifted the points by 1.08%, up 16.07 points.

The day opened at 1,486.04 points and some also attributed the positive momentum from the gains from other markets in the region. This came in the wake of the major sell-off taking place last week due to the Eurozone debt crisis as well as the weakening United States economy. There were more gainers than losers with 626 and 190 counters respectively while 232 counters remains unchanged with total shares traded at 10.702 millions.

British American Tobacco were among the top gainers while Petronas Dagangan joined the list with a 72sen increase to RM17.50. Maybank rose 13 sen to RM8.60 while Petronas Chemicals Group Berhad closed at RM6.53, up 20sen with TNB closing at RM6.03 up by 12 sen.
In other markets, the Japan Nikkei closed at 9,086.41 points while the Hang Seng Index closed at 20,260.10. The Straits Times Index also closed on a high with 2,874.02 points. Crude oil closed at US85.67 per barrel with the Nymex index up by 29 cents.