KUALA LUMPUR (April 20) : Malaysian stocks exhibited volatility on the first trading day of the week as the stock benchmark erased gains and sank into the red on Monday morning.
Analysts said global economic data and Malaysia’s pre-election sentiment could curb gains across the FBM KLCI. Crucial global highlights this week include potential indications of further quantitative easing by US policymakers, and China’s monetary policy, results from which, will influence the direction of global financial markets.
“Downside pressure remains for the FBM KLCI,” TA Securities Holdings Bhd wrote in a note.
“Against the backdrop of mixed economic data, it remains to be seen whether the Federal Reserve will provide any clue on a third quantitative easing when the policy makers start a two-day meeting tomorrow. Signs of another round of liquidity injection will drive up equity markets and the opposite could trigger some profit-taking pressure,” TA added.
At 9.59am, the FBM KLCI fell 9.24 points to 1,582.61. Across the exchange, some 424 million shares worth RM208 million were traded, leading to 160 gainers versus 263 decliners.
Top gainers DUTCH LADY MILK INDUSTRIES BHD [] added 38 sen to RM35.26 while Panasonic Manufacturing Malaysia Bhd was up 30 sen to RM22.30.
Among decliners, BRITISH AMERICAN TOBACCO (M) [] Bhd fell 76 sen to RM55.72 while KUALA LUMPUR KEPONG BHD [] was down 22 sen to RM23.90.
Most active was Ariantec Global Bhd which rose one sen to 23 sen with some 13 million shares done.
Among Asian bourses, Japan’s Nikkei 225 rose 0.2% to 9,580.16 points, South Korea’s Kospi was down 0.32% to 1,968.34, while Australia’s S&P/ ASX 200 declined 0.33% to 4,352.2.
Analysts said global economic data and Malaysia’s pre-election sentiment could curb gains across the FBM KLCI. Crucial global highlights this week include potential indications of further quantitative easing by US policymakers, and China’s monetary policy, results from which, will influence the direction of global financial markets.
“Downside pressure remains for the FBM KLCI,” TA Securities Holdings Bhd wrote in a note.
“Against the backdrop of mixed economic data, it remains to be seen whether the Federal Reserve will provide any clue on a third quantitative easing when the policy makers start a two-day meeting tomorrow. Signs of another round of liquidity injection will drive up equity markets and the opposite could trigger some profit-taking pressure,” TA added.
At 9.59am, the FBM KLCI fell 9.24 points to 1,582.61. Across the exchange, some 424 million shares worth RM208 million were traded, leading to 160 gainers versus 263 decliners.
Top gainers DUTCH LADY MILK INDUSTRIES BHD [] added 38 sen to RM35.26 while Panasonic Manufacturing Malaysia Bhd was up 30 sen to RM22.30.
Among decliners, BRITISH AMERICAN TOBACCO (M) [] Bhd fell 76 sen to RM55.72 while KUALA LUMPUR KEPONG BHD [] was down 22 sen to RM23.90.
Most active was Ariantec Global Bhd which rose one sen to 23 sen with some 13 million shares done.
Among Asian bourses, Japan’s Nikkei 225 rose 0.2% to 9,580.16 points, South Korea’s Kospi was down 0.32% to 1,968.34, while Australia’s S&P/ ASX 200 declined 0.33% to 4,352.2.
