KUALA LUMPUR (Nov 9): The FBM KLCI extended its gains for the third trading day on Wednesday, Nov 9 in line with a generally positive sentiment at key regional markets following the firmer overnight close at Wall Street.
However, the benchmark index struggled to maintain some of its gain at mid-morning and was up 8.89 points to 1,489.35.
Gainers led losers by 332 to 100, while 195 counters traded unchanged. Volume was 594.47 million shares valued at RM334.93 million.
Asian shares rose and the euro steadied on Wednesday after Italian Prime Minister Silvio Berlusconi said he would resign, raising hopes the debt-ridden country would proceed with reforms to contain the euro zone's sovereign debt crisis from spreading, according to Reuters.
At the regional markets, Hong Kong’s Hang Seng Index jumped 2.48% to 20,166.60, the Shanghai Composite Index added 0.89% to 2,526.06, Japan’s Nikkei 225 gained 0.87% to 8,730.64, South Korea’s Kospi rose 0.79% to 1,918.25, Taiwan’s Taiex rose 0.42% to 7,632.73 and Singapore’s Straits Times Index edged up 0.39% to 2,877.73.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients Nov 9 said that due to the US markets’ much firmer tone last night, there could be an initial rise for the FBM KLCI.
He said later profit taking activities could curtail the local market’s rise in the afternoon session.
“The Asian markets will still gyrate wildly despite a firm tone for the overnight American markets.
“As such, we advise clients to still trade with a short-term time frame locally,” he said.
On Bursa Malaysia, DiGi rose 44 sen to RM34.44, United PLANTATION []s gained 22 sen to RM17.80, Harvest Court 21 sen to RM1.39, Petronas Dagangan and PPB were up 14 sen each to RM16.34 and RM17.22, Bursa 12 sen to RM6.81, Axiata 11 sen to RM4.94 and MISC 10 sen to RM6.99.
Among the decliners, Lafarge Malayan Cement lost seven sen to RM6.92, Petrol One and F&N fell six sen each to RM1.04 and RM17.46, Ekovest five sen to RM2.50, while Mexter, KLK and GAB fell four sen each to 11 sen, RM21.16 and RM11.02 respectively.
The actives at mid-morning included Tejari, Sanichi, Hibiscus, JCY, Tebrau, Flonic and Hubline.
However, the benchmark index struggled to maintain some of its gain at mid-morning and was up 8.89 points to 1,489.35.
Gainers led losers by 332 to 100, while 195 counters traded unchanged. Volume was 594.47 million shares valued at RM334.93 million.
Asian shares rose and the euro steadied on Wednesday after Italian Prime Minister Silvio Berlusconi said he would resign, raising hopes the debt-ridden country would proceed with reforms to contain the euro zone's sovereign debt crisis from spreading, according to Reuters.
At the regional markets, Hong Kong’s Hang Seng Index jumped 2.48% to 20,166.60, the Shanghai Composite Index added 0.89% to 2,526.06, Japan’s Nikkei 225 gained 0.87% to 8,730.64, South Korea’s Kospi rose 0.79% to 1,918.25, Taiwan’s Taiex rose 0.42% to 7,632.73 and Singapore’s Straits Times Index edged up 0.39% to 2,877.73.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients Nov 9 said that due to the US markets’ much firmer tone last night, there could be an initial rise for the FBM KLCI.
He said later profit taking activities could curtail the local market’s rise in the afternoon session.
“The Asian markets will still gyrate wildly despite a firm tone for the overnight American markets.
“As such, we advise clients to still trade with a short-term time frame locally,” he said.
On Bursa Malaysia, DiGi rose 44 sen to RM34.44, United PLANTATION []s gained 22 sen to RM17.80, Harvest Court 21 sen to RM1.39, Petronas Dagangan and PPB were up 14 sen each to RM16.34 and RM17.22, Bursa 12 sen to RM6.81, Axiata 11 sen to RM4.94 and MISC 10 sen to RM6.99.
Among the decliners, Lafarge Malayan Cement lost seven sen to RM6.92, Petrol One and F&N fell six sen each to RM1.04 and RM17.46, Ekovest five sen to RM2.50, while Mexter, KLK and GAB fell four sen each to 11 sen, RM21.16 and RM11.02 respectively.
The actives at mid-morning included Tejari, Sanichi, Hibiscus, JCY, Tebrau, Flonic and Hubline.
