KUALA LUMPUR (Jan 13): The FBM KLCI slipped into negative territory at mid-morning on Friday amidst lacklustre trade, while key regional markets eked out modest gains following the successful bond sales in Spain and Italy on Thursday.
On Bursa Malaysia, the FBM KLCI shed 0.19 of a point to 1,525.37 at 10am, weighed by losses at select blue chips.
Gainers led losers by 230 to 164, while 223 counters traded unchanged. Volume was 365.74 million shares valued at RM180.37 million.
Asian shares rose to a one-month high and the euro clung near its strongest in a week on Friday as strong demand for Spanish and Italian debt sales tempered risk aversion ahead of another auction from Rome later in the day, according to Reuters.
Interbank lending rates fell in a sign that worries about a credit crunch may be easing, while Asian credit markets firmed, with primary market activity picking up, it said.
At the regional markets, Japan’s Nikkei 225 rose 1.39% to 8,502.16, Hong Kong’s Hang Seng Index added 0.43% to 19,178.10, South Korea’s Kospi gained 0.68% to 1,877.18, Singapore’s Straits Times Index up 0.54% to 2,758.60 and Taiwan’s Taiex was up 0.52% to 7,224.18.
Meanwhile, the Shanghai Composite Index shed 0.19% to 2,270.60.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients Jan 13 said that due to the US markets’ quite tone last night, the local market could be in yet for another benign day of trading activity.
“From the recent 1,310.53low to the 1,493.28 high, the index held the 38.2% retracement level of 1,424.19. The market’s next swing high is probably located at 1,530.73 (Dec 30).
“If the index can surpass this level, we are poised to head to higher levels soon. Else, the index could remain quiet for now,” he said.
Among the decliners on Bursa Malaysia, F&N fell 20 sen to RM18.80, Dutch Lady 10 sen to RM26, Genting PLANTATION []s six sen to RM9.04, Sunchirin and BLD Plantations five sen each to RM1.50 and RM8, while Apollo, HSL, IOI Corp and Genting fell four sen each to RM2.91, RM1.41, RM5.45 and RM10.92 respectively.
Utopia was the most actively traded counter with 20.33 million shares done. The stock gained half a sen to 7 sen.
Other gainers included Compugates, Proton, Berjaya Corp, Palette and Lion Corp.
Gainers included Malayan Flour Mills, Supermax, Hartalega, Petronas Dagangan, Carlsberg, MBM Resources, CI Holdings, Kretam and Kian Joo.
On Bursa Malaysia, the FBM KLCI shed 0.19 of a point to 1,525.37 at 10am, weighed by losses at select blue chips.
Gainers led losers by 230 to 164, while 223 counters traded unchanged. Volume was 365.74 million shares valued at RM180.37 million.
Asian shares rose to a one-month high and the euro clung near its strongest in a week on Friday as strong demand for Spanish and Italian debt sales tempered risk aversion ahead of another auction from Rome later in the day, according to Reuters.
Interbank lending rates fell in a sign that worries about a credit crunch may be easing, while Asian credit markets firmed, with primary market activity picking up, it said.
At the regional markets, Japan’s Nikkei 225 rose 1.39% to 8,502.16, Hong Kong’s Hang Seng Index added 0.43% to 19,178.10, South Korea’s Kospi gained 0.68% to 1,877.18, Singapore’s Straits Times Index up 0.54% to 2,758.60 and Taiwan’s Taiex was up 0.52% to 7,224.18.
Meanwhile, the Shanghai Composite Index shed 0.19% to 2,270.60.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients Jan 13 said that due to the US markets’ quite tone last night, the local market could be in yet for another benign day of trading activity.
“From the recent 1,310.53low to the 1,493.28 high, the index held the 38.2% retracement level of 1,424.19. The market’s next swing high is probably located at 1,530.73 (Dec 30).
“If the index can surpass this level, we are poised to head to higher levels soon. Else, the index could remain quiet for now,” he said.
Among the decliners on Bursa Malaysia, F&N fell 20 sen to RM18.80, Dutch Lady 10 sen to RM26, Genting PLANTATION []s six sen to RM9.04, Sunchirin and BLD Plantations five sen each to RM1.50 and RM8, while Apollo, HSL, IOI Corp and Genting fell four sen each to RM2.91, RM1.41, RM5.45 and RM10.92 respectively.
Utopia was the most actively traded counter with 20.33 million shares done. The stock gained half a sen to 7 sen.
Other gainers included Compugates, Proton, Berjaya Corp, Palette and Lion Corp.
Gainers included Malayan Flour Mills, Supermax, Hartalega, Petronas Dagangan, Carlsberg, MBM Resources, CI Holdings, Kretam and Kian Joo.
