KUALA LUMPUR (April 3): The FBM KLCI stayed above the 1,600-level at the mid-day break on Tuesday, in line with the generally overall positive sentiment at key regional markets.
Asian shares rose on Tuesday on the back of strong gains in global equities overnight, after solid manufacturing data from the United States, and as leading Asian exporters offset signs of mild recession in Europe, according to Reuters.
The stronger-than-expected U.S. factory data pushed U.S. stocks to four-year highs, while European shares recorded their biggest daily gain in three weeks despite sluggish factory activity in the euro zone, it said.
The FBM KLCI rose 3.55 points to 1,607.33 at the mid-day break.
Gainers trailed losers by 323 to 294, while 319 counters trade unchanged. Volume was 591.10 million shares valued at RM55.31 million.
The ringgit strengthened 0.27% to 3,0463 versus US dollar; crude palm oil futures for the third month delivery gained RM27 per tonne to RM3,528, crude oil slipped 34 cents per barrel tp US$104.89 and godl rose US$2.15 an ounce to US$1,679.82.
At the regional markets, Hong Kong’s hamng Seng Idnex rose 0.48% to 20,621.40, the Shanghai Composite Index addd 0.47% to 2,262.79, Taiwan’s Taiex rose 1.65% to 7,733.08, South Korea’s Kosp added 0.85% to 2,046.58, whiel Japan’s Nikkei 225 fell 0.60% to 10,048.70 and Singapore’s Straits Times edged down 0.10% to 3,013.18.
Maybank Investment Bank Bhd research maintained its year-end KLCI target of 1,565 points, based on 13.3 times one-year forward earnings.
In a staretegy report released April 3, Maybank IB Research said while external conditions had improved and global financial markets continue to receive liquidity support, Malaysia was not out of the woods yet as the eurozone debt crisis had yet to fully play out, and there were still downside risks to the global economy.
“On the domestic front, an early 13th General Election (13GE), to be followed by the UMNO party elections this year-end, may lend to cautiousness in trading over the next few months,” it said.
On Bursa Malaysia, Dutch lady was the top gainer in the morning session on Tuesday and rose 52 sen top RM36.02, BAT added 42 sen to RM56.48, Carlsberg up 28 sen to RM10.74, Guan Chong 13 sen to RM2.82, United Malacca, Voir and Sarawak Planatations up 12 sen each to RM7.52, 66 sen and RM3.21 rspectively, while Jaya Tiasa and Nestle rose 11 sen each to RM8.63 and RM56.
Ingenuity Solutions was the most actively traded counter with 85.15 million shares done. The stock fell half a sen to 10 sen.
Other actives included Metronic, Naim Indah Corp, SuperComnet, Hubline, Araintec, Carotech, CIMB and Karambunai.
Decliners included Tahps, Genting PLANTATION []s, Cepco, United Plantations, SMPC, PPB, Petronas Dagangan and Can One.
Asian shares rose on Tuesday on the back of strong gains in global equities overnight, after solid manufacturing data from the United States, and as leading Asian exporters offset signs of mild recession in Europe, according to Reuters.
The stronger-than-expected U.S. factory data pushed U.S. stocks to four-year highs, while European shares recorded their biggest daily gain in three weeks despite sluggish factory activity in the euro zone, it said.
The FBM KLCI rose 3.55 points to 1,607.33 at the mid-day break.
Gainers trailed losers by 323 to 294, while 319 counters trade unchanged. Volume was 591.10 million shares valued at RM55.31 million.
The ringgit strengthened 0.27% to 3,0463 versus US dollar; crude palm oil futures for the third month delivery gained RM27 per tonne to RM3,528, crude oil slipped 34 cents per barrel tp US$104.89 and godl rose US$2.15 an ounce to US$1,679.82.
At the regional markets, Hong Kong’s hamng Seng Idnex rose 0.48% to 20,621.40, the Shanghai Composite Index addd 0.47% to 2,262.79, Taiwan’s Taiex rose 1.65% to 7,733.08, South Korea’s Kosp added 0.85% to 2,046.58, whiel Japan’s Nikkei 225 fell 0.60% to 10,048.70 and Singapore’s Straits Times edged down 0.10% to 3,013.18.
Maybank Investment Bank Bhd research maintained its year-end KLCI target of 1,565 points, based on 13.3 times one-year forward earnings.
In a staretegy report released April 3, Maybank IB Research said while external conditions had improved and global financial markets continue to receive liquidity support, Malaysia was not out of the woods yet as the eurozone debt crisis had yet to fully play out, and there were still downside risks to the global economy.
“On the domestic front, an early 13th General Election (13GE), to be followed by the UMNO party elections this year-end, may lend to cautiousness in trading over the next few months,” it said.
On Bursa Malaysia, Dutch lady was the top gainer in the morning session on Tuesday and rose 52 sen top RM36.02, BAT added 42 sen to RM56.48, Carlsberg up 28 sen to RM10.74, Guan Chong 13 sen to RM2.82, United Malacca, Voir and Sarawak Planatations up 12 sen each to RM7.52, 66 sen and RM3.21 rspectively, while Jaya Tiasa and Nestle rose 11 sen each to RM8.63 and RM56.
Ingenuity Solutions was the most actively traded counter with 85.15 million shares done. The stock fell half a sen to 10 sen.
Other actives included Metronic, Naim Indah Corp, SuperComnet, Hubline, Araintec, Carotech, CIMB and Karambunai.
Decliners included Tahps, Genting PLANTATION []s, Cepco, United Plantations, SMPC, PPB, Petronas Dagangan and Can One.
