KUALA LUMPUR (Dec 18): The FBM KLCI extended its gains for a second day on Tuesday, in line with the advance at most global markets.
At 5pm, the FBM KLCI jumped 10.86 points to 1,659.44. There were 313 gainers and 308 losers, while 366 counters traded unchanged. Volume was 826.97 million shares valued at RM1.42 billion.
Global shares and other risk assets rose on Tuesday, encouraged by signs of a US budget compromise aimed at stopping a package of tax hikes and spending cuts hurting the economy next year, according to Reuters.
The differences over how to resolve the "fiscal cliff" narrowed significantly on Monday night when the White House proposed leaving lower tax rates in place for everyone earning under US$400,000, it said.
At the regional markets; Japan's Nikkei 226 rose 0.96% to 9.923.01; the Shanghai Composite Index gained 0.10% to 2,162.46; South Korea's Kospi rose 0.51% to 1,993.09; Taiwan's Taiex was up 0.16% to 7,643.74; meanwhile, Singapore's Straits Times Index edged down 0.06% to 3,156.79; and Hong Kong's Hang Seng Index fell 0.08% to 22,494.73.
Among the gainers on Bursa Malaysia, Petronas Dagangan rose RM1.38 to RM23.54; Lafarge Malayan Cement added 38 sen to RM9.50; Nestlé 34 sen to RM63.84; Aeon 32 sen to RM12.88; Axiata and UMW 22 sen to RM6.76 and RM12 respectively; LPI Capital, Batu Kawan, KLK and Pos Malaysia added 12 sen each to RM14, RM17.80, RM21.58 and RM3.37 respectively.
DSC Solutions was the most actively traded counter with 50.73 million shares done. The stock rose 4.5 sen to 18.5 sen. Other actives included XOX, ELK-Desa Resources, NTPM, Tiger Synergy, Axiata, Takaso, Metronic and Maxis. The decliners included Dutch Lady, PPB, SOP, BAT, Shell, Aeon Credit, Tradewinds and Oriental.