KUALA LUMPUR (March 19) : Malaysian equities briefly slipped into the red before rebounding into positive territory towards midday. Analysts have a downside bias perception on the technical dynamics of the FBM KLCI until more domestic catalysts emerge to arrest the weakness in the local market.
For now, they said external news flow, especially, more positive economic data from the US should give a boost to Asian equities. These include the anticipation of better housing market figures from the world’s largest economy this week.
At 12.30pm, the 30-stock-FBM KLCI rose 2.25 points to 1,573.65 with some 1.05 billion shares worth RM658 million traded. The index which had reached an intraday high of 1,574.3 points earlier had declined to an intraday low of 1,570.88 points.
Across the exchange, there were 265 gainers versus 363 decliners while 287 stocks were unchanged.
Top gainers include PETRONAS GAS BHD [] which added 38 sen to RM16.38 followed by EKOVEST BHD [] which gained 16 sen to RM2.75.
Decliners include NESTLE (M) BHD [] which fell 20 sen to RM55.80 while AEON CREDIT SERVICE (M) BHD [] was also down by a similar quantum to RM9.20.
Most active was Ariantec Global Bhd which added 2.5 sen to 12 sen with some 133 million shares done.
Comments from International Monetary Fund managing director Christine Lagarde over the weekend had offered support to Asian equities on Monday morning. Lagarde 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.
She, however, warned that high debt levels in developed economies and rising crude oil prices are still crucial risks for the global backdrop.
Major Asian stock indices saw gains towards midday. Japan’s Nikkei 225 climbed 0.26% to 10,156.1 points , Hong Kong’s Hang Seng was up 0.27% to 21,375.6 while Australia’s S&P/ASX 200 gained 0.51% to 4,298.1
For now, they said external news flow, especially, more positive economic data from the US should give a boost to Asian equities. These include the anticipation of better housing market figures from the world’s largest economy this week.
At 12.30pm, the 30-stock-FBM KLCI rose 2.25 points to 1,573.65 with some 1.05 billion shares worth RM658 million traded. The index which had reached an intraday high of 1,574.3 points earlier had declined to an intraday low of 1,570.88 points.
Across the exchange, there were 265 gainers versus 363 decliners while 287 stocks were unchanged.
Top gainers include PETRONAS GAS BHD [] which added 38 sen to RM16.38 followed by EKOVEST BHD [] which gained 16 sen to RM2.75.
Decliners include NESTLE (M) BHD [] which fell 20 sen to RM55.80 while AEON CREDIT SERVICE (M) BHD [] was also down by a similar quantum to RM9.20.
Most active was Ariantec Global Bhd which added 2.5 sen to 12 sen with some 133 million shares done.
Comments from International Monetary Fund managing director Christine Lagarde over the weekend had offered support to Asian equities on Monday morning. Lagarde 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.
She, however, warned that high debt levels in developed economies and rising crude oil prices are still crucial risks for the global backdrop.
Major Asian stock indices saw gains towards midday. Japan’s Nikkei 225 climbed 0.26% to 10,156.1 points , Hong Kong’s Hang Seng was up 0.27% to 21,375.6 while Australia’s S&P/ASX 200 gained 0.51% to 4,298.1
