KUALA LUMPUR (Nov 11): The FBM KLCI rebounded on Friday, Nov 11 in line with key regional markets, albeit gains remained limited as investors wary of the still uncertain global economic outlook treaded carefully.
At mid-morning, the FBM KLCI added 5.27 points to 1,477.92.
Gainers led losers by 302 to 116, while 214 counters traded unchanged. Volume was 644.02 million shares valued at RM213.32 million.
At the regional markets, Hong Kong’s Hang Seng Index added 0.92% to 19,138.73, Japan’s Nikkei 225 edged up 0.06% to 8,506.28, the Shanghai Composite Index rose 0.37% to 2,488.75, Taiwan’s Taiex up 0.27% to 7,328.47, South Korea’s Kospi added 1.2% to 1,834.99 and Singapore’s Straits Times Index gained 0.22% to 2,793.06.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Nov 11 said that due to the US markets’ weak rebound tone last night, there could be an initial rose for the local index.
Some later pre-weekend profit taking activities may trim the local market’s rise in the afternoon session, he said.
Lee said the Asian markets would still gyrate wildly due to the weak rebound tone for the overnight American markets.
“As such, we advise clients to still trade with a short-term time frame locally.
“It is unwise to join the recent penny stock activity (eg Harvest Court with so many gap-ups) as these stocks do not have any fundamentals and the companies are loss making. Take profits here swiftly,” he said.
Among the gainers on Bursa Malaysia, DiGi rose 80 sen to RM34.80, BAT 44 sen to RM45.94, United PLANTATION []s 40 sen to RM18, CI Holdings 23 sen to RM5.18, Glenealy 15 sen to RM5.99, HLFG 14 sen to RM11.88. Rimbunan Sawit 11.5 sen to 95.5 sen, TSH Resources 10 sen to RM3.38, while Tien Wah and Kretam added seven sen each to RM1.70 and RM2.19.
iDimension Consolidated Bhd, which made its debut on the ACE Market today, was among the most actively traded counters. The stock rose three sen to 41 sen with 27.6 million shares traded.
Other actives included Compugates, Takaso, DBE Gurney, Rimbunan Sawit, JCY International and Tiger.
Decliners included Sunchirin, Ta Ann, Boustead, Weida, Sarawak Oil Palms, Asas and Harvest Court.
At mid-morning, the FBM KLCI added 5.27 points to 1,477.92.
Gainers led losers by 302 to 116, while 214 counters traded unchanged. Volume was 644.02 million shares valued at RM213.32 million.
At the regional markets, Hong Kong’s Hang Seng Index added 0.92% to 19,138.73, Japan’s Nikkei 225 edged up 0.06% to 8,506.28, the Shanghai Composite Index rose 0.37% to 2,488.75, Taiwan’s Taiex up 0.27% to 7,328.47, South Korea’s Kospi added 1.2% to 1,834.99 and Singapore’s Straits Times Index gained 0.22% to 2,793.06.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Nov 11 said that due to the US markets’ weak rebound tone last night, there could be an initial rose for the local index.
Some later pre-weekend profit taking activities may trim the local market’s rise in the afternoon session, he said.
Lee said the Asian markets would still gyrate wildly due to the weak rebound tone for the overnight American markets.
“As such, we advise clients to still trade with a short-term time frame locally.
“It is unwise to join the recent penny stock activity (eg Harvest Court with so many gap-ups) as these stocks do not have any fundamentals and the companies are loss making. Take profits here swiftly,” he said.
Among the gainers on Bursa Malaysia, DiGi rose 80 sen to RM34.80, BAT 44 sen to RM45.94, United PLANTATION []s 40 sen to RM18, CI Holdings 23 sen to RM5.18, Glenealy 15 sen to RM5.99, HLFG 14 sen to RM11.88. Rimbunan Sawit 11.5 sen to 95.5 sen, TSH Resources 10 sen to RM3.38, while Tien Wah and Kretam added seven sen each to RM1.70 and RM2.19.
iDimension Consolidated Bhd, which made its debut on the ACE Market today, was among the most actively traded counters. The stock rose three sen to 41 sen with 27.6 million shares traded.
Other actives included Compugates, Takaso, DBE Gurney, Rimbunan Sawit, JCY International and Tiger.
Decliners included Sunchirin, Ta Ann, Boustead, Weida, Sarawak Oil Palms, Asas and Harvest Court.
