Share prices on Bursa Malaysia were mildly steady in early trading today on renewed concerns over China's growth, with the FTSE Bursa Malaysia KLCI (FBM KLCI) staying above the 1,575 level, dealers said.
At 9.40am, the key index stood 1.69 points firmer at 1,577.4 after opening 0.32 of a point better at 1,576.03.
HwangDBS Vickers Research in a note today said US indices had closed mixed at between -0.1 per cent and 0.1 per cent, following the markets’ impressive performance the day before.
Fifteen of the 19 US banks passed the Federal Reserve's stress tests, leading to further rallies, in their respective stocks and globally.
The research house said closer to home, the Malaysian bourse could trade sideways from its 0.7 per cent gain yesterday.
"This is due to sentiment cooling from the positive US and Eurozone news, while investors mulled China’s move to allow greater movement in its exchange rate, higher-than-expected jobless claims in the UK in February, and concerns over the ability of the Eurozone countries to reach its budget targets for 2013," it added.
The Finance Index rose 21.979 points to 14,104.27, the Plantation Index shed 12.23 points to 8,599.21 and the Industrial Index added 4.16 points to 2,866.45.
The FBM Emas Index increased 8.27 points to 10,878.8, the FBM 70 Index was 4.74 points lower at 12,160.95 and the FBM Ace Index advanced 39.03 points to 4,612.46.
Advancers led decliners 164 to 137 while 202 counters were unchanged, 990 untraded and 19 others suspended. Turnover stood at 204.900 million shares worth RM144.409 million.
Volume leaders, Focus Dynamics perked two sen to 19 sen, China Stationery was flat at RM1.04 and Tiger Synergy inched up half-a-sen to 15.5 sen.
Among heavyweights, Maybank firmed four sen to RM8.74, Sime Darby rose 11 sen to RM9.82, CIMB eased one sen to RM7.39 and Petronas Chemicals dropped six sen to RM6.72. -- BERNAMA
At 9.40am, the key index stood 1.69 points firmer at 1,577.4 after opening 0.32 of a point better at 1,576.03.
HwangDBS Vickers Research in a note today said US indices had closed mixed at between -0.1 per cent and 0.1 per cent, following the markets’ impressive performance the day before.
Fifteen of the 19 US banks passed the Federal Reserve's stress tests, leading to further rallies, in their respective stocks and globally.
The research house said closer to home, the Malaysian bourse could trade sideways from its 0.7 per cent gain yesterday.
"This is due to sentiment cooling from the positive US and Eurozone news, while investors mulled China’s move to allow greater movement in its exchange rate, higher-than-expected jobless claims in the UK in February, and concerns over the ability of the Eurozone countries to reach its budget targets for 2013," it added.
The Finance Index rose 21.979 points to 14,104.27, the Plantation Index shed 12.23 points to 8,599.21 and the Industrial Index added 4.16 points to 2,866.45.
The FBM Emas Index increased 8.27 points to 10,878.8, the FBM 70 Index was 4.74 points lower at 12,160.95 and the FBM Ace Index advanced 39.03 points to 4,612.46.
Advancers led decliners 164 to 137 while 202 counters were unchanged, 990 untraded and 19 others suspended. Turnover stood at 204.900 million shares worth RM144.409 million.
Volume leaders, Focus Dynamics perked two sen to 19 sen, China Stationery was flat at RM1.04 and Tiger Synergy inched up half-a-sen to 15.5 sen.
Among heavyweights, Maybank firmed four sen to RM8.74, Sime Darby rose 11 sen to RM9.82, CIMB eased one sen to RM7.39 and Petronas Chemicals dropped six sen to RM6.72. -- BERNAMA
