KUALA LUMPUR (March 19) : Malaysian stocks rose in morning trade on Monday in tandem with Asian markets as investors digested positive updates on the world economy.
International Monetary Fund managing director Christine Lagarde had said the world economy has stepped back from the brink of danger and signs of stabilisation are emerging from the euro zone and the US. Lagarde, however, warned that high debt levels in developed economies and rising crude oil prices are still crucial risks for the global backdrop.
In Malaysia, the FBM KLCI was up 3.5 points to 1,574.9 at 9.38am with some 434 million shares worth RM155 million traded. There were 201 gainers versus 119 decliners while 214 stocks were unchanged.
Top gainers across Bursa Malaysia include Hibiscus Petroleum Bhd which rose 20 sen to RM1.83 followed by PPB Group Bhd which was up 16 sen to RM16.66.
Decliners include EP MANUFACTURING BHD [] which fell 12 sen to RM1 while AEON CREDIT SERVICE (M) BHD [] was down 10 sen to RM8.90.
Most active was Ariantec Global Bhd which added two sen to 11.5 sen with some 72 million shares done.
In a note on Monday, TA Securities Holdings Bhd said technical trading dynamics of the FBM KLCI could see a downside bias this week until bearish momentum has been neutralised. Last Friday, the FBM KLCI fell 0.5% or 7.98 points to close at 1,571.4.
“The weak market breadth and trading momentum could persist this week, pending more local market catalysts to boost trading momentum.
“Nonetheless, the better-than-expected US economic data last week should offset concern over China's economic slowdown in the region,” TA said.
Asian stock indices rose. Japan’s Nikkei 225 climbed 0.35% to 10,165.7 points , Australia’s S&P/ASX 200 was up 0.64% to 4,303.6, while South Korea’s Kospi rose 0.71% to 2,048.79.
International Monetary Fund managing director Christine Lagarde had said the world economy has stepped back from the brink of danger and signs of stabilisation are emerging from the euro zone and the US. Lagarde, however, warned that high debt levels in developed economies and rising crude oil prices are still crucial risks for the global backdrop.
In Malaysia, the FBM KLCI was up 3.5 points to 1,574.9 at 9.38am with some 434 million shares worth RM155 million traded. There were 201 gainers versus 119 decliners while 214 stocks were unchanged.
Top gainers across Bursa Malaysia include Hibiscus Petroleum Bhd which rose 20 sen to RM1.83 followed by PPB Group Bhd which was up 16 sen to RM16.66.
Decliners include EP MANUFACTURING BHD [] which fell 12 sen to RM1 while AEON CREDIT SERVICE (M) BHD [] was down 10 sen to RM8.90.
Most active was Ariantec Global Bhd which added two sen to 11.5 sen with some 72 million shares done.
In a note on Monday, TA Securities Holdings Bhd said technical trading dynamics of the FBM KLCI could see a downside bias this week until bearish momentum has been neutralised. Last Friday, the FBM KLCI fell 0.5% or 7.98 points to close at 1,571.4.
“The weak market breadth and trading momentum could persist this week, pending more local market catalysts to boost trading momentum.
“Nonetheless, the better-than-expected US economic data last week should offset concern over China's economic slowdown in the region,” TA said.
Asian stock indices rose. Japan’s Nikkei 225 climbed 0.35% to 10,165.7 points , Australia’s S&P/ASX 200 was up 0.64% to 4,303.6, while South Korea’s Kospi rose 0.71% to 2,048.79.
