KUALA LUMPUR (Jan 25): The FBM KLCI edged up gingerly at mid-morning on Wednesday, the first trading of the lunar year of the Dragon, in line with the muted gains at some of the key regional markets.
At mid-morning, the FBM KLCI gained 1.95 points to 1,524.61m lifted by gains at select blue chips.
Gainers led losers by 217 to 146, while 183 counters traded unchanged. Volume was 208.91 million shares valued at RM186.76 million.
Asian shares rose on Wednesday, underpinned by strong earnings from U.S. TECHNOLOGY [] giant Apple, stabilising European money markets and falling euro zone debt yields, with investors shifting their focus to the Federal Reserve from Europe, according to Reuters.
At the regional markets, Japan’s Nikkei 225 was up 0.81% to 8,856.06, South Korea’s Kospi gained 0.84% to 1,966.34, Australia’s S&P/ASX 200 Index rose 0.71% to 4,254.20 and Singapore’s Straits Times Index added 0.59% to 2,866.28.
The China, Hong Kong and Taiwan markets remained closed for the Chinese New Year holidays.
BIMB Securities Research in a note Wednesday said that despite concerns of Greece’s ongoing negotiations with the private sector over its debts may have hit a brick wall, we noticed that investors’ risk tolerance have had improved.
Given the same developments six months ago, equity indices would have spiralled downwards rather than the resilience shown over the past few days, it said.
Major European bourses closed marginally lower with the Dow Jones Industrial Average losing 33 points to remain above 12,600, it said.
Regionally, most major bourses were still closed for Chinese New Year celebrations and those that were opened, ended up in positive territory.
Though many are still on holiday mood, BIMB Securities Research said it expects trading to be mixed today regionally.
“Locally, the FBM KLCI edged up almost 6 points last Friday to stay above the 1,520 level.
“Though some profit taking is expected to emerge, we expect the benchmark to be well supported from selective buying on blue chips and could possibly move even higher with the 1,530 as the immediate,” it said.
Among the gainers on Bursa Malaysia at mid-morning, Dutch Lady added 52 sen to RM26.50, BAT 50 sen to RM50, KLK up 48 sen to RM25.96, Hong Leong Bank 30 sen to RM11.40, Batu Kawan 20 sen to RM18.90, Malaya Flour Mills, PPB and MPI rose 18 sen each to RM7.98, RM17.18 and RM3.46, NSOP 14 sen to RM5.84 while HLFG added 12 sen to RM11.88.
DBE Gurney was the most actively traded counter with 20.94 million shares done. The stock added half a sen to 13 sen.
Other actives included Compugates, JCY, Hibiscus, DRB-Hicom warrants, Maybulk and CIMB.
Decliners at mid-morning included F&N, CIMB, Genting, Genting PLANTATION []s, Supermax, Esso, Bumi Armada, MSM and Weida.
At mid-morning, the FBM KLCI gained 1.95 points to 1,524.61m lifted by gains at select blue chips.
Gainers led losers by 217 to 146, while 183 counters traded unchanged. Volume was 208.91 million shares valued at RM186.76 million.
Asian shares rose on Wednesday, underpinned by strong earnings from U.S. TECHNOLOGY [] giant Apple, stabilising European money markets and falling euro zone debt yields, with investors shifting their focus to the Federal Reserve from Europe, according to Reuters.
At the regional markets, Japan’s Nikkei 225 was up 0.81% to 8,856.06, South Korea’s Kospi gained 0.84% to 1,966.34, Australia’s S&P/ASX 200 Index rose 0.71% to 4,254.20 and Singapore’s Straits Times Index added 0.59% to 2,866.28.
The China, Hong Kong and Taiwan markets remained closed for the Chinese New Year holidays.
BIMB Securities Research in a note Wednesday said that despite concerns of Greece’s ongoing negotiations with the private sector over its debts may have hit a brick wall, we noticed that investors’ risk tolerance have had improved.
Given the same developments six months ago, equity indices would have spiralled downwards rather than the resilience shown over the past few days, it said.
Major European bourses closed marginally lower with the Dow Jones Industrial Average losing 33 points to remain above 12,600, it said.
Regionally, most major bourses were still closed for Chinese New Year celebrations and those that were opened, ended up in positive territory.
Though many are still on holiday mood, BIMB Securities Research said it expects trading to be mixed today regionally.
“Locally, the FBM KLCI edged up almost 6 points last Friday to stay above the 1,520 level.
“Though some profit taking is expected to emerge, we expect the benchmark to be well supported from selective buying on blue chips and could possibly move even higher with the 1,530 as the immediate,” it said.
Among the gainers on Bursa Malaysia at mid-morning, Dutch Lady added 52 sen to RM26.50, BAT 50 sen to RM50, KLK up 48 sen to RM25.96, Hong Leong Bank 30 sen to RM11.40, Batu Kawan 20 sen to RM18.90, Malaya Flour Mills, PPB and MPI rose 18 sen each to RM7.98, RM17.18 and RM3.46, NSOP 14 sen to RM5.84 while HLFG added 12 sen to RM11.88.
DBE Gurney was the most actively traded counter with 20.94 million shares done. The stock added half a sen to 13 sen.
Other actives included Compugates, JCY, Hibiscus, DRB-Hicom warrants, Maybulk and CIMB.
Decliners at mid-morning included F&N, CIMB, Genting, Genting PLANTATION []s, Supermax, Esso, Bumi Armada, MSM and Weida.
