KUALA LUMPUR (March 14): The FBM KLCI rose at mid-morning on Wednesday, in line with the improved sentiment at key regional markets following the firmer overnight close at Wall Street.
At 10am, the 30-stock index was up 9.18 points to 1,573.20. Gainers led losers by 326 to 106, while 223 counters were traded unchanged. Volume was 246.15 million shares valued at RM221.51 million.
Asian shares rose on Wednesday as upbeat US economic data boosted investors' risk appetite, while reduced expectations for further monetary easing from the Federal Reserve underpinned the dollar, according to Reuters.
At the regional markets, Japan’s Nikkei 225 rose 1.92% to 10,089.60, Hong Kong's Hang Seng Index gained 0.96% to 21,544.50, the Shanghai Composite Index edged up 0.18% to 2,460.12, Taiwan’s Taiex rose 0.60% to 10,489.60, South Korea’s Kopsi rose 1.28% to 2,051.03 and Singapore’s Straits Times Index added 0.95% to 3,017.49.
BIMB Securities Research said US stocks climbed sharply overnight, pushing the major averages to multi-year highs since 2007 backed by stronger US economy; improved retail sales and recovering banking sector.
The S&P 500 rose 1.8 percent to 1,395.95 while the Dow added 217.97 points to 13,177.68. The rally picked up speed in the final hour after JPMorgan Chase boosted its dividend and announced a US$15 billion buyback, said the research house.
Over in Europe, shares climbed to their highest in more than seven months boosted by encouraging economic data from Germany and the US.
“Domestically, the FBM KLCI closed flat (on Tuesday) just below the 1,565 support level; nonetheless net foreign trading participation remains positive at RM77.7 billion," it said.
BIMB Research said the strong rally over in US and Europe might boost sentiment on the local market and it expected the KLCI might test the immediate 1,570.
On Bursa Malaysia, BAT was the top gainer, up RM1.48 to 54.28, Hwatai 19.5 sen to 74 sen, Toyo Ink 19 sen to RM1.63, Genting PLANTATION []s 17 sen to RM9.40, UMW 16 sen to RM7.27.
Shell and Tasek gained 10 sen each to RM10.10 and RM8.70, while Ta Ann and AirAsia added nine sen each to RM5.69 and RM3.63.
Sin Heng Chan, which fell earlier following a query by Bursa Malaysia Securities over its unusual market activity on Tuesday, rose 16 sen to RM1.25,
Naim Indah Corp was the most active counter with 43.99 million shares done. The stock fell three sen to 65.5 sen.
Other actives included Euro Holdings, FFHB, Sinh Heng Chan, Winsun, Silver Bird, Hwatai, YTL and CAM Resources.
Decliners included Quality Concrete, Sunchirin, MISC, LTKM, Gadang, PFCE, UPA Corp and Selangor Dredging.
At 10am, the 30-stock index was up 9.18 points to 1,573.20. Gainers led losers by 326 to 106, while 223 counters were traded unchanged. Volume was 246.15 million shares valued at RM221.51 million.
Asian shares rose on Wednesday as upbeat US economic data boosted investors' risk appetite, while reduced expectations for further monetary easing from the Federal Reserve underpinned the dollar, according to Reuters.
At the regional markets, Japan’s Nikkei 225 rose 1.92% to 10,089.60, Hong Kong's Hang Seng Index gained 0.96% to 21,544.50, the Shanghai Composite Index edged up 0.18% to 2,460.12, Taiwan’s Taiex rose 0.60% to 10,489.60, South Korea’s Kopsi rose 1.28% to 2,051.03 and Singapore’s Straits Times Index added 0.95% to 3,017.49.
BIMB Securities Research said US stocks climbed sharply overnight, pushing the major averages to multi-year highs since 2007 backed by stronger US economy; improved retail sales and recovering banking sector.
The S&P 500 rose 1.8 percent to 1,395.95 while the Dow added 217.97 points to 13,177.68. The rally picked up speed in the final hour after JPMorgan Chase boosted its dividend and announced a US$15 billion buyback, said the research house.
Over in Europe, shares climbed to their highest in more than seven months boosted by encouraging economic data from Germany and the US.
“Domestically, the FBM KLCI closed flat (on Tuesday) just below the 1,565 support level; nonetheless net foreign trading participation remains positive at RM77.7 billion," it said.
BIMB Research said the strong rally over in US and Europe might boost sentiment on the local market and it expected the KLCI might test the immediate 1,570.
On Bursa Malaysia, BAT was the top gainer, up RM1.48 to 54.28, Hwatai 19.5 sen to 74 sen, Toyo Ink 19 sen to RM1.63, Genting PLANTATION []s 17 sen to RM9.40, UMW 16 sen to RM7.27.
Shell and Tasek gained 10 sen each to RM10.10 and RM8.70, while Ta Ann and AirAsia added nine sen each to RM5.69 and RM3.63.
Sin Heng Chan, which fell earlier following a query by Bursa Malaysia Securities over its unusual market activity on Tuesday, rose 16 sen to RM1.25,
Naim Indah Corp was the most active counter with 43.99 million shares done. The stock fell three sen to 65.5 sen.
Other actives included Euro Holdings, FFHB, Sinh Heng Chan, Winsun, Silver Bird, Hwatai, YTL and CAM Resources.
Decliners included Quality Concrete, Sunchirin, MISC, LTKM, Gadang, PFCE, UPA Corp and Selangor Dredging.
