KUALA LUMPUR (April 30): The FBM KLCI brushed off the concerns arising from last weekend’s Bersih 3.0 rally that turned ugly and inched higher on Monday, in line with the gains at most regional markets, lifted by select blue chips in early trade.
The FBM KLCI was up 4.01 points to 1,571.81 at the mid-day break.
Gainers trailed losers by 229 to 285, while 299 counters traded unchanged. Volume was 398.95 million shares valued at RM422 million.
Asian shares rose on Monday as weaker-than-expected U.S. growth data left open the possibility for more monetary stimulus from the Federal Reserve, but trading was subdued with Japanese and Chinese markets closed, according to Reuters.
At the regional markets, Hong Kong’s Hang Seng Index rose 1.12% to 20,974.40, south Korea’s added 0.14% to 1,978.20, while Singapore’s Straits Times Index fell 0.20% to 2,975.62 and Taiwan’s Taiex shed 0.09% to 7,473.49.
MIDF Research in its weekly fund flow analysis said Malaysian stocks continued to attract foreign money last week.
It said foreign investors bought on net basis, Malaysian-listed shares amounted to RM356.1 million compared with RM408.8 million the week before. Foreign investors have now been net buyers of Malaysian stocks for 11 consecutive weeks now.
“We cross over to May this week.
“The adage “Sell in May and go away” is certainly not uncorroborated — the KLCI had recorded negative return for the month in six out of the last 10 years, averaging -3.2%. We therefore begin the month with a historical obstacle to surmount,” it said on Monday.
On Bursa Malaysia, Petronas Dagangan was the top gainer and added 24 sen to RM19.30, Aeon Credit and Nestle gained 20 sen each to RM10.26 and RM55.30, Tasek and Takaful was up 15 sen each to RM8.70 and RM4, Tradewinds PLANTATION []s up 14 sen to RM5.84, Toyo Ink and Carlsberg added 12 sen each to RM1.53 and RM11.60.
Meanwhile, RHB Capital and OSK Holdings rose on gaining the ministry of finance nod for a merger. RHB Capital rose 11 sen to RM7.36 whiel OSK was up 13 sen to RM1.69.
Ariantec was the most actively traded counter with 201.62 million shares done. The stock fell half a sen to 25 sen.
Other actives included Utopia, DRB-Hicom, CSL, Focus, Daya Materials, Bumi Armada and YTL Corp.
Decliners at mid-day included Dutch Lady, Jaya Tiasa, PacificMas, UAC, Amway, Bumi Armada and MMHE.
The FBM KLCI was up 4.01 points to 1,571.81 at the mid-day break.
Gainers trailed losers by 229 to 285, while 299 counters traded unchanged. Volume was 398.95 million shares valued at RM422 million.
Asian shares rose on Monday as weaker-than-expected U.S. growth data left open the possibility for more monetary stimulus from the Federal Reserve, but trading was subdued with Japanese and Chinese markets closed, according to Reuters.
At the regional markets, Hong Kong’s Hang Seng Index rose 1.12% to 20,974.40, south Korea’s added 0.14% to 1,978.20, while Singapore’s Straits Times Index fell 0.20% to 2,975.62 and Taiwan’s Taiex shed 0.09% to 7,473.49.
MIDF Research in its weekly fund flow analysis said Malaysian stocks continued to attract foreign money last week.
It said foreign investors bought on net basis, Malaysian-listed shares amounted to RM356.1 million compared with RM408.8 million the week before. Foreign investors have now been net buyers of Malaysian stocks for 11 consecutive weeks now.
“We cross over to May this week.
“The adage “Sell in May and go away” is certainly not uncorroborated — the KLCI had recorded negative return for the month in six out of the last 10 years, averaging -3.2%. We therefore begin the month with a historical obstacle to surmount,” it said on Monday.
On Bursa Malaysia, Petronas Dagangan was the top gainer and added 24 sen to RM19.30, Aeon Credit and Nestle gained 20 sen each to RM10.26 and RM55.30, Tasek and Takaful was up 15 sen each to RM8.70 and RM4, Tradewinds PLANTATION []s up 14 sen to RM5.84, Toyo Ink and Carlsberg added 12 sen each to RM1.53 and RM11.60.
Meanwhile, RHB Capital and OSK Holdings rose on gaining the ministry of finance nod for a merger. RHB Capital rose 11 sen to RM7.36 whiel OSK was up 13 sen to RM1.69.
Ariantec was the most actively traded counter with 201.62 million shares done. The stock fell half a sen to 25 sen.
Other actives included Utopia, DRB-Hicom, CSL, Focus, Daya Materials, Bumi Armada and YTL Corp.
Decliners at mid-day included Dutch Lady, Jaya Tiasa, PacificMas, UAC, Amway, Bumi Armada and MMHE.
