money

At 12.30pm, the FTSE Bursa Malaysia fell 1.58 points to 1,258.84. There were 170 gainers, 254 losers and 251 counters traded unchanged. Turnover was at 187.6 million shares valued at RM282.7mil. The benchmark index remained in negative territory when it reopened at 2.30pm.

On Bursa Malaysia, Hai-O, which topped the gainer’s jumped 41 sen to RM7.41. DFZ added 35 sen to RM4.12 while United Plantations rose 12 sen to RM14.

Banking counters CIMB group fell 6 sen to RM12.84 while Public Bank remained unchanged at RM10.96.

Among the bigger losers were EON Capital, Ge-Shen and IJM, while the most actively traded counter was newly listed Yoong Onn Corp with over 18.5 million shares done.

HwangDBS Vickers Research said the benchmark FBM KLCI was likely to struggle on its way to the immediate resistance target of 1,280.

The research house said today would be “broadly unexciting” in terms of economic news flow with only the routine consumer price index for November, which was supposed to be announced today.

“Things, however, may be a bit more interesting on the corporate front, with two companies announcing fund-raising plans last evening,” HwangDBS said.

Malaysia Airlines has proposed a one for one rights issue at RM1.60 per share or an estimated proceed of RM2.7bil while Gamuda Bhd announced a rights issue of one warrant for every eight existing shares held at 10 sen each.