KUALA LUMPUR (Jan 6): The FBM KLCI slipped at mid-morning on Friday, in line with the overall tepid sentiment at key regional markets, following the weaker overnight close at European markets.
The FBM KLCI slipped 1.87 points to 1,512.56 at 10am, with losses including at KLK, Petronas Chemicals and Genting.
Gainers edged losers by 212 to 192, while 215 counters traded unchanged. Volume was 377.83 million shares valued at RM220.1 million.
Asian shares edged down and the euro hovered near a 16-month low against the dollar and an 11-year low against the yen on Friday on worries the euro zone debt crisis is crippling European banks, but more positive U.S. data helped curb the losses, according to Reuters.
At the regional markets, Japan’s Nikkei fell 0.74% to 8,425.75, Hong Kong’s Hang Seng Index was down 0.50% to 18,718.90, South Korea’s Kospi lost 1.21% to 1,841.24, Singapore’s Straits Times Index shed 0.20% to 2,707.61 and Taiwan’s Taiex inched down 0.01% to 7,129.95.
Meanwhile, the Shanghai Composite Index added 0.13% to 2,151.34.
BIMB Securities Research in a note Jan 6 said it would be interesting to see investors trading stance over the immediate term as their sentiments “yo-yo” between Eurozone crisis and improved US economic data.
It said that on Thursday, it seemed like a dead heat despite encouraging unemployment figures coupled with better housing starts in the US as the DJI Average closed flat to remain at above the 12,400 level.
As for the European bourses, most ended the day lower spooked by the spike in treasury yields of both Spain (5.64%, +0.2%) and Italy (7.09%, +0.15%), it said.
Regionally, it was generally a mixed day following the lacklustre European performance, it said.
Locally, the FBMKLCI finally rebounded after the opening 2 days of decline.
The benchmark index gained 10 points to close at 1,514 almost at par to its resistance of 1,515 mark.
“Yesterday we noticed buying interest to centre on PLANTATION [] stocks as advocated by us of a re-rating following a resilient CPO price which hovers at above the RM3,000 level.
“We expect accumulation of plantation and oil & gas stocks to persist and should prop the index higher to 1,520,” it said.
On Bursa Malaysia, KLK was the top loser at mid-morning and fell 76 sen to RM24.50; Tradewinds Plantations was down 18 sen to RM4.32, BHIC lost 16 sen to RM3.95, Box-pak eight sen to RM2.44, Orient seven sen to RM5.25, KYM, GAB, Petronas Chemicals and Genting fell six sen each to RM1.49, RM13.18, RM6.32 and RM11.08 respectively, while K-Power was down five sen to 45 sen.
Gainers included Can-One, MPI, Petronas Gas, HLFG, Batu Kawan, Muda, Nestle, Dutch Lady and Unisem, while the actives included Nextnation, XDL, Utopia, JCY, HWGB, Wijaya and Can-One.
The FBM KLCI slipped 1.87 points to 1,512.56 at 10am, with losses including at KLK, Petronas Chemicals and Genting.
Gainers edged losers by 212 to 192, while 215 counters traded unchanged. Volume was 377.83 million shares valued at RM220.1 million.
Asian shares edged down and the euro hovered near a 16-month low against the dollar and an 11-year low against the yen on Friday on worries the euro zone debt crisis is crippling European banks, but more positive U.S. data helped curb the losses, according to Reuters.
At the regional markets, Japan’s Nikkei fell 0.74% to 8,425.75, Hong Kong’s Hang Seng Index was down 0.50% to 18,718.90, South Korea’s Kospi lost 1.21% to 1,841.24, Singapore’s Straits Times Index shed 0.20% to 2,707.61 and Taiwan’s Taiex inched down 0.01% to 7,129.95.
Meanwhile, the Shanghai Composite Index added 0.13% to 2,151.34.
BIMB Securities Research in a note Jan 6 said it would be interesting to see investors trading stance over the immediate term as their sentiments “yo-yo” between Eurozone crisis and improved US economic data.
It said that on Thursday, it seemed like a dead heat despite encouraging unemployment figures coupled with better housing starts in the US as the DJI Average closed flat to remain at above the 12,400 level.
As for the European bourses, most ended the day lower spooked by the spike in treasury yields of both Spain (5.64%, +0.2%) and Italy (7.09%, +0.15%), it said.
Regionally, it was generally a mixed day following the lacklustre European performance, it said.
Locally, the FBMKLCI finally rebounded after the opening 2 days of decline.
The benchmark index gained 10 points to close at 1,514 almost at par to its resistance of 1,515 mark.
“Yesterday we noticed buying interest to centre on PLANTATION [] stocks as advocated by us of a re-rating following a resilient CPO price which hovers at above the RM3,000 level.
“We expect accumulation of plantation and oil & gas stocks to persist and should prop the index higher to 1,520,” it said.
On Bursa Malaysia, KLK was the top loser at mid-morning and fell 76 sen to RM24.50; Tradewinds Plantations was down 18 sen to RM4.32, BHIC lost 16 sen to RM3.95, Box-pak eight sen to RM2.44, Orient seven sen to RM5.25, KYM, GAB, Petronas Chemicals and Genting fell six sen each to RM1.49, RM13.18, RM6.32 and RM11.08 respectively, while K-Power was down five sen to 45 sen.
Gainers included Can-One, MPI, Petronas Gas, HLFG, Batu Kawan, Muda, Nestle, Dutch Lady and Unisem, while the actives included Nextnation, XDL, Utopia, JCY, HWGB, Wijaya and Can-One.
