KUALA LUMPUR (Jan 13): The FBM KLCI snapped its four-day winning streak and fell on Friday as key regional markets ended the week on a mixed note.
European shares and the single currency rose on Friday after positive comments on the region's outlook from the European Central Bank and the success of Spain's bond auction, with attention focused on Italy's first debt sale of the year, according to Reuters.
The FBM KLCI closed 2.49 points lower at 1,523.07. Week-on-week, however, the index gained 8.94 points.
Losers edged gainers by 397 to 373, while 339 counters traded unchanged. Volume was 1.77 billion shares valued at RM1.61 billion.
Affin Investment Bank Bhd vice president and head of retail research Dr Nazri Khan said the FBM KLCI was likely to extend gains towards 1,550 level following a round of well-received debt auctions in Spain and Italy, expected monetary easing in China and huge liquidity on the domestic front.
“The fact that Italy and Spain sold a total of €22bn ($28bn) of sovereign debt at sharply reduced prices (with implied borrowing costs falling to lowest levels since March 2011) is a major surprise and suggest the European funding problem is gradually improving,” he said.
At the regional markets, Japan’s Nikkei 225 rose 1.36% to 8,500.02, Hong Kong’s Hang Seng Index added 0.57% to 19,204.42, South Korea’s Kospi gained 0.60% to 1,875.68 and Singapore’s Straits Times Index jumped 1.75% to 2,791.54.
Meanwhile, the Shanghai Composite Index fell 1.34% to 2,244.58 and Taiwan’s Taiex shed 0.07% to 7,181.54.
On Bursa Malaysia, Dutch Lady fell 32 sen to RM25.78, Far East down 30 sen to RM6.90, Proton 28 sen to RM5.18, Iretex 12 sen to RM1.05, Advanced Packaging 11 sen to RM1.19, while Aeon, CBIP, JT International and HLFG lost 10 sen each to RM7.35, RM4.75, RM7.08 and RM11.70 respectively.
Among the gainers, Malayan Flour Mills added 31 sen to RM7.86, Supermax 21 sen to RM4.55, Carlsberg and Nestle added 20 sen each to RM8.63 and RM56, Hartalega, MBM Resources and Parkson rose 17 sen each to RM6.57, RM3.47 and RM5.70 respectively, while Milux and Kian Joo added 15 sen to RM1.44 and RM2.16.
Compugates was the most actively traded counter with 101.3 million shares done. The stock added one sen to 7 sen.
Other actives included DRB-Hicom, Utopia and Proton.
European shares and the single currency rose on Friday after positive comments on the region's outlook from the European Central Bank and the success of Spain's bond auction, with attention focused on Italy's first debt sale of the year, according to Reuters.
The FBM KLCI closed 2.49 points lower at 1,523.07. Week-on-week, however, the index gained 8.94 points.
Losers edged gainers by 397 to 373, while 339 counters traded unchanged. Volume was 1.77 billion shares valued at RM1.61 billion.
Affin Investment Bank Bhd vice president and head of retail research Dr Nazri Khan said the FBM KLCI was likely to extend gains towards 1,550 level following a round of well-received debt auctions in Spain and Italy, expected monetary easing in China and huge liquidity on the domestic front.
“The fact that Italy and Spain sold a total of €22bn ($28bn) of sovereign debt at sharply reduced prices (with implied borrowing costs falling to lowest levels since March 2011) is a major surprise and suggest the European funding problem is gradually improving,” he said.
At the regional markets, Japan’s Nikkei 225 rose 1.36% to 8,500.02, Hong Kong’s Hang Seng Index added 0.57% to 19,204.42, South Korea’s Kospi gained 0.60% to 1,875.68 and Singapore’s Straits Times Index jumped 1.75% to 2,791.54.
Meanwhile, the Shanghai Composite Index fell 1.34% to 2,244.58 and Taiwan’s Taiex shed 0.07% to 7,181.54.
On Bursa Malaysia, Dutch Lady fell 32 sen to RM25.78, Far East down 30 sen to RM6.90, Proton 28 sen to RM5.18, Iretex 12 sen to RM1.05, Advanced Packaging 11 sen to RM1.19, while Aeon, CBIP, JT International and HLFG lost 10 sen each to RM7.35, RM4.75, RM7.08 and RM11.70 respectively.
Among the gainers, Malayan Flour Mills added 31 sen to RM7.86, Supermax 21 sen to RM4.55, Carlsberg and Nestle added 20 sen each to RM8.63 and RM56, Hartalega, MBM Resources and Parkson rose 17 sen each to RM6.57, RM3.47 and RM5.70 respectively, while Milux and Kian Joo added 15 sen to RM1.44 and RM2.16.
Compugates was the most actively traded counter with 101.3 million shares done. The stock added one sen to 7 sen.
Other actives included DRB-Hicom, Utopia and Proton.
