KUALA LUMPUR (Jan 27): The FBM KLCI slipped at mid-morning on Friday, in line with the weaker sentiment at key regional bourses as markets took a breather from the recent rally.
At the global markets, a broad asset rally inspired by the US Federal Reserve's pledge to keep rates low paused on Friday, as investors sought to gauge how sustainable the burst of optimism will be while waiting for the outcome of crucial Greek debt talks, according to Reuters.
The FBM KLCI fell 3.74 points to 1,520.12 at 10am, weighed by losses at select blue chips.
Gainers edged losers by 235 to 205, while 252 counters traded unchanged. Volume was 538.98 million shares valued at RM369/81 million.
At the regional markets, Japan’s Nikkei 225 edged down 0.02% to 8,847.62 and South Korea’s Kospi shed 0.14% to 1,954.48, while Hong Kong’s Hang Seng Index added 0.24% to 20,487.90 and Singapore’s Straits Times Index gained 0.25% to 2,901.54.
BIMB Securities Research in a note Jan 27 said it was a mixed trading day on Wall Street on Thursday from a mixed batch of earnings and economic data in the US.
Lower new home sales, higher durable goods orders and higher jobless claims had all placed investors on an indecisive mode, it said.
As a consequence, the Dow Jones Industrial Average erased early gains to end the session 22 points lower, it said.
The research house said whilst negotiations in Athens are still ongoing, most European indices reversed their losses from the past few sessions to chalk up impressive gains possibly on a technical rebound.
As for Asia, equity performances remain strong with almost all closed on a high, it said.
“Locally, the FBM KLCI gained 4 points to close above the 1,520 mark with interests again centred on the lower liners and we expect the same for today.
“It is interesting to note that the MYR is gaining momentum against the greenback hovering at RM3.04/US$1 indicating that funds may be flowing back into the country again.
“Recent calls to overweight the PLANTATION [] sector are bearing fruits and our top calls are Hap Seng Plantations and TH Plantations which are still low on valuations,” it said.
Among the decliners on Bursa Malaysia, Genting Plantations fell 25 sen to RM9.40, TDM 13 sen to RM4.29, Fima Corp 12 sen to RM6.14, Hong Leong Industries nine sen to RM4.30, Public Bank eight sen to RM13.32, Kossan seven sen to RM3.40, while Aeon, Delloyd and Can-One fell six sen each to RM7.40, RM3.44 and RM2.03.
Gainers included IJM Corp, Scicom, Nestle, Hartalega, DRB-Hicom, AZRB, Amway, Shell and MISC, while the actives included TMS, Karyon, DBE Gurney, Jotech, UEM Land and DRB-Hicom.
At the global markets, a broad asset rally inspired by the US Federal Reserve's pledge to keep rates low paused on Friday, as investors sought to gauge how sustainable the burst of optimism will be while waiting for the outcome of crucial Greek debt talks, according to Reuters.
The FBM KLCI fell 3.74 points to 1,520.12 at 10am, weighed by losses at select blue chips.
Gainers edged losers by 235 to 205, while 252 counters traded unchanged. Volume was 538.98 million shares valued at RM369/81 million.
At the regional markets, Japan’s Nikkei 225 edged down 0.02% to 8,847.62 and South Korea’s Kospi shed 0.14% to 1,954.48, while Hong Kong’s Hang Seng Index added 0.24% to 20,487.90 and Singapore’s Straits Times Index gained 0.25% to 2,901.54.
BIMB Securities Research in a note Jan 27 said it was a mixed trading day on Wall Street on Thursday from a mixed batch of earnings and economic data in the US.
Lower new home sales, higher durable goods orders and higher jobless claims had all placed investors on an indecisive mode, it said.
As a consequence, the Dow Jones Industrial Average erased early gains to end the session 22 points lower, it said.
The research house said whilst negotiations in Athens are still ongoing, most European indices reversed their losses from the past few sessions to chalk up impressive gains possibly on a technical rebound.
As for Asia, equity performances remain strong with almost all closed on a high, it said.
“Locally, the FBM KLCI gained 4 points to close above the 1,520 mark with interests again centred on the lower liners and we expect the same for today.
“It is interesting to note that the MYR is gaining momentum against the greenback hovering at RM3.04/US$1 indicating that funds may be flowing back into the country again.
“Recent calls to overweight the PLANTATION [] sector are bearing fruits and our top calls are Hap Seng Plantations and TH Plantations which are still low on valuations,” it said.
Among the decliners on Bursa Malaysia, Genting Plantations fell 25 sen to RM9.40, TDM 13 sen to RM4.29, Fima Corp 12 sen to RM6.14, Hong Leong Industries nine sen to RM4.30, Public Bank eight sen to RM13.32, Kossan seven sen to RM3.40, while Aeon, Delloyd and Can-One fell six sen each to RM7.40, RM3.44 and RM2.03.
Gainers included IJM Corp, Scicom, Nestle, Hartalega, DRB-Hicom, AZRB, Amway, Shell and MISC, while the actives included TMS, Karyon, DBE Gurney, Jotech, UEM Land and DRB-Hicom.
