Tuesday, 13 March 2012

KLCI drifts higher at mid-morning

KUALA LUMPUR (March 13): The FBM KLCI drifted slightly higher, lifted by select blue chips at mid-morning on Tuesday in line with the limited gains at key regional markets.

Meanwhile, at the regional markets most market players were on the sidelines awaiting the outcome of a Federal Open Market Committee meeting later in the day, according to Reuters.

The FBM KLCI added 2.47 points to 1,567.22 at 10.05am. Gainers led losers by 198 to 187, while 276 counters traded unchanged. Volume was 252.62 million shares valued at RM166.43 million.

At the regional markets, Japan’s Nikkei 225 rose 1.14% to 10,002.90, Hong KONG’s Hang Seng Index added 0.77% To 21,297.40, the Shanghai Composite Index edged up 0.05% to 2,436.08, Taiwan’s Taiex gained 0.82% to 7,992.51, South Korea’s Kospi was up 1.15% to 2,025.52 and Singapore’s Straits Times Index added 0.52% to 2,977.65.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients said the resistance areas of the KLCI at 1,564 and 1,583 would cap market gains, whilst the weaker support areas were at 1,540 and 1,559.

“Despite the US markets’ rebound last night, we could be in for a weaker day locally,” he said. The KLCI fell 14.25 points to close at 1,564.75 on Monday.

On Bursa Malaysia, BAT was the top gainer, up 40 sen to RM52.40, Ekovest added 15 sen to RM2.75, Sin Heng Chan gained 13.5 sen to 94 sen, LPI Capital 10 sen to RM13.66 and Tradewinds PLANTATION []s nine sen to RM4,64.

Petronas Chemicals and GAB up eight sen each to RM6.64 and RM13.38, Vintage 7.5 sen to 13 sen, Axiata six sen to RM5.10 while Hoover added five sen to 36 sen.

Naim Indah Corp was the most active with 52.94 million shares done. The stock fell half a sen to 72 sen.

Other actives included Winsun, Takason, Tiger Synergy, XDL, Sanichi and Sumatec.

Decliners included Theta warrants, Allianz warrants, UAC, MISC, Carlsberg, tradewinds, Johore Tin, BLD Plantations, AMMB and Hong Leong Bank.

Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.
Related Posts Plugin for WordPress, Blogger...