KLCI up more than 23 points week-on-week

KUALA LUMPUR (May 4): The FBM KLCI rose 23.24 points week-on-week, and was among the better performers compared with its regional peers on Friday.

The FBM KLCI rose 7.87 points to close at 1,691.04 on Friday, lifted by gains at blue chips including Petronas Dagangan, Tenaga, Genting and AirAsia.

Gainers outpaced losers by 456 to 274, while 352 counters traded unchanged. Volume was 1.33 billion shares valued at RM1.59 billion.

Asian shares were mixed for a second successive day on Friday as another batch of lacklustre U.S. data stoked concerns that the recovery in the world's biggest economy is faltering, according to Reuters.

At the regional markets, the Shanghai Composite Index added 0.49% to 2,452.01, Taiwan’s taiex added 0.54% to 7,700.95, Hong Kong’s Hang Seng Index fell 0.77% to 21,086.00, South Korea’s Kospi lost 0.30% to 1,989.15 and Singapore’s Straits Times Index

Japan’s Nikkei 225 was closed for a national holiday.

Meanwhile, European shares opened lower and industrial commodities like oil and copper were weak on Friday on concerns about the health of the world's biggest economy before a reading on the strength of the U.S. jobs market, said Reuters.

Weekend elections in France and Greece, which could complicate efforts to resolve the euro zone debt crisis, were also weighing on sentiment, leaving the euro steady against the dollar at around $1.3150 and debt markets little changed, it said.

On Bursa Malaysia, Nestle was the top gainer on Friday and rose 40 sen to RM55.90, Allianz, Aeon and Petronas Dagangan added 20 sen each to RM4.75, RM10 and RM19.50 respectively, Coastal Contracts 19 sen to RM2.13, SAM Engineering 18 sen to RM3.20, Tenaga and MBM Resources up 15 sen each to RM6.60 and RM5.24, while Maybulk and Genting rose 14 sen each to RM1.79 and RM10.64.

AirAsia was among the actively traded counters with 14.45 million shares done. The stock added four sen to RM3.64.

Other actives included Ariantec, Glomac, Maybulk, Astral Supreme, Metronic and Jotech.

Decliners on Friday included Knusford, Southern Acids, Cepco, Asia File, Ireka, Takaful, Hoover, Nakamichi, Aeon Credit and Lafarge Malayan Cement.



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KLCI advances as Asian markets fall

KUALA LUMPUR (May 4) : Malaysian stocks rose on Friday morning as Asian peers declined following a weaker overnight performance by US equities.

Global markets have taken the cue from weaker updates on the US’ services industry and private sector hiring, deemed crucial indicators of the health of the world’s largest economy and major importer of goods from emerging Asian countries.

In Malaysia, analysts have cautioned investors that gains in the 30-stock FBM KLCI could be curbed by domestic pre-election sentiment and global factors. As such, it will be interesting to see if the benchmark can sustain its gains.

“A strong rally above 1,600 would give the bulls the momentum to test the historical high at 1,609,” Hong Leong Investment Bank Bhd wrote in a note.

At 9.59am, the FBM KLCI added 5.28 points to 1,588.45. Across the exchange, some 318 million shares worth RM188 million were traded, leading to 261 gainers versus 155 decliners.

Top gainers BRITISH AMERICAN TOBACCO (M) [] Bhd added RM1.76 to RM57 while NESTLE (M) BHD [] was up 30 sen to RM55.80.

Among decliners, SOUTHERN ACIDS (M) BHD [] fell 21 sen to RM2.21 while GRAND HOOVER BHD [] was down 10.5 sen to 20 sen

Among actively-traded stocks, ASTRAL SUPREME BHD [] fell one sen to 31.5 sen with some 15 million shares done.

Across Asia, Australia’s S&P/ASX 200 added 0.5% to 4,406.9 points while South Korea’s Kospi fell by a similar quantum to 1,985.23. Singapore’s Straits Times was down 0.3% to 2,992.02. The Japan bourse is closed for a public holiday.



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KLCI reverses earlier losses at mid-day break

KUALA LUMPUR (May 3): The FBM KLCI managed to reverse some of its earlier losses at the mid-day break on Thursday and edged up, lifted by gains at select blue chips including AirAsia, BAT and RHB Capital.

The FBM KLCI added 0.41 of a point to 1,582.80 at the mid-day break.

Losers outpaced gainers by 314 to 234, while 318 counters traded unchanged. Volume was 779.26 million shares valued at RM479.15 million.

The ringgit weakened 0.14% to 3.0323 versus the greenback, crude palm oil futures for the third month delivery fell RM31 per tonne to RM3,404, crude oil shed 13 cents per barrel to US$105.09 while gold fell US$5.02 an ounce to US$1,648.48.

Meanwhile, Asian shares slipped on Thursday and the euro languished near a 2-week low after disappointing economic data from both sides of the Atlantic rekindled concerns about the strength of global growth.

Commodities and the Australian dollar - all sensitive to growth expectations - also struggled as the data put investors on the defensive and limited appetite for riskier assets.

At the regional markets, Hong Kong’s Hang Seng Index fell 0.5% to 21,203.40, the Shanghai Composite Index shed 0.37% to 2,429.49, Taiwan’s Taiex was down 0.23% top7,659.09, South Korea’s Kospi lost 0.33% to 1,992.46 and Singapore’s Straits Times Index edged down 0.07% to 3,004.14.

On Bursa Malaysia, AirAsia was the top gainer at mid-day and rose 21 sen to RM3.54, Country View was up 19.5 sen to 84 sen, BAT 16 sen to RM55.20, Nestle and Takaful 12 sen each to RM55.50 and RM4.29, NPC 10 sen to RM2.78, Crest Builder 9.5 sen to RM1.02 and RHB Capital nine sen to RM7.50.

Utopia was the most actively traded counter with 59.68 million shares done. The stock fell half a sen to 7.5 sen.

Other actives included Naim Indah Corp, AirAsia, Ariantec, Metronic, Compugates, Daya Materials and JCY.

Decliners in the morning session included Dutch Lady, MAHB< Genting, Carlsberg, Pasdec, Delloyd, Rexit, Shelll and Sarawak PLANTATION []s.



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Malaysian stocks gain on US economic data

KUALA LUMPUR (May 2) : Malaysian shares gained on Wednesday morning in tandem with Asian peers following a stronger close across US stock markets in overnight trade.

World markets have reacted positively to better US manufacturing data in April, during which, the growth rate was the strongest in 10 months , according to the Institute for Supply Management.

In technical terms, analysts, however, foresee downside possibilities for Malaysia’s stock benchmark FBM KLCI as the index had failed to close above the 50-day moving average of 1,584 points as of last Monday. As such, it will be interesting to see if the 30-stock FBM KLCI will be able to sustain its gains on Wednesday.

At 9.59am, the gauge added 6.07 points to 1,576.88. Across the exchange, some 269 million shares worth RM161 million were traded, leading to 222 gainers versus 126 decliners.

Top gainers NESTLE (M) BHD [] rose 62 sen to RM55.92 while AEON CREDIT SERVICE (M) BHD [] added 30 sen to RM11.

Among decliners, BRITISH AMERICAN TOBACCO (M) [] Bhd fell 44 sen to RM55.10, while DUTCH LADY MILK INDUSTRIES BHD [] was down 30 sen to RM33.10.

Among actively-traded stocks, ASTRAL SUPREME BHD [] added one sen to 34 sen with some 14 million shares done.



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KLCI falls 25.72 points in April

KUALA LUMPUR (April 30): The FBM KLCI closed higher on Monday but fell some 25.72 points in April, as investor sentiment took a beating given rising external and domestic uncertainties.

The FBM KLCI rose 2.81 points to close at 1,570.61 on Monday.

Gainers trailed losers by 297 to 388, while 318 counters traded unchanged. Volume was 945.42 million shares valued at RM1.38 billion.

Asian shares were mixed 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 1.7% to 21,094.21, South Korea added 0.34% to 1,981.99, Taiwan’s Taiex was up 0.28% to 7,601.72 while Singapore’s Straits Times Index shed 0.26% to 2,973.91.

ON Bursa Malaysia, BAT was the top gainer and rose 74 sen to RM55.54, Aeon Credit added 64 sen to RM10.70, Shell rose 36 sen to RM10.28, Petronas Dagangan 30 sen to RM19.36, Nestle and Panasonic gained 20 sen each to RM55.30 and RM22.70, OSK 15 sen to RM1.71, Tradewinds and Knusford added 14 sen each to RM9.78 and RM1.94, while Toyo Ink gained 12 sen to RM1.53.

Ariantec was the most actively traded counter with 399.1 million shares done. The stock fell one sen to 24.5 sen.

Other actives included Utopia, Metronic, CSL, Astral Supreme, Focus, DRB-Hicom, Bumi Armada and BIMB warrants.

Decliners on Monday included SAM Engineering, Dutch Lady, Petronas Gas, MMHE, Kluang, Dayang Enterprise, Subur Tiasa. UAC and Bumi Armada.



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KLCI up at mid-day break, moves above 1,570-level

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.



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KLCI finishes in red on pre-election sentiment

KUALA LUMPUR (April 27) : The FBM KLCI stayed in the red till the market closed on Friday as pre-election sentiment gets an upper hand in dictating the direction of local equities. This comes ahead of the much-anticipated Bersih 3.0 rally on Saturday.

The less-optimistic sentiment across the local bourse was despite a stronger overnight close across US markets as global investors responded positively to improving US real estate and corporate earnings updates.

At 5pm, the FBM KLCI fell 11.89 points to close at 1,567.8. Across the exchange, 1.3 billion shares worth RM1.4 billion were traded, leading to 286 gainers versus 409 decliners.

Among top gainers, NCB HOLDINGS BHD [] was up 49 sen to RM4.39, while MALAYAN BANKING BHD [] added 12 sen to RM8.64.

Decliners include NESTLE (M) BHD [] which fell 80 sen to RM55.10 while BRITISH AMERICAN TOBACCO (M) [] Bhd was down 70 sen to RM54.80.

Most active was Ariantec Global Bhd which gained two sen to 25.5 sen with some 300 million shares done.



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Nestle to maintain prices for key products over next few months, says MD

KUALA LUMPUR (April 26): NESTLE (M) BHD [] will not increase prices for its key products, Milo and Maggi, in the next few months, said its managing director Peter R. Vogt.

Close to the second half of last year, the company increased the price of its Milo products by about 4%-6%.

Speaking after the company's AGM on Thursday, Vogt said that raw material prices such as cocoa beans and cocoa powder are relatively high at the moment and will probably stay high.

He said Nestle is taking cost control measures to offset the impact from the high commodity prices



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MIDF Research maintains Neutral on Nestle, target price RM54.55

KUALA LUMPUR (April 26): MIDF Research has maintained its Neutral rating on Nestle (M) Bhd with a target price of RM54.55,and said Nestle’s 1QFY12 net profit was within expectations, accounting for 30.7% and 32.0% of its own and consensus full year estimates respectively.

“We are maintaining our Target Price (TP) for Nestle at RM54.55.

“The TP is derived from Dividend Discount Model, assuming 7.2% WACC and 3.5% growth rate. We continue to like Nestle as a good defensive stock to hold given its reputable household brands and inelastic products demand,” it said in a note Thursday.



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KLCI struggles but stays above 1,580-level

KUALA LUMPUR (APRIL 23): The FBM KLCI struggled to remain above the important 1,580-level on Monday after having succumbed more than 8 points to fall below the 1,590-level.

Asian shares trended lower as political developments in France and the Netherlands raised fears about the region's commitment to tackle its ongoing debt crisis, according to Reuters.

The FBM KLCI lost 8.05 points to close at 1,583.80, weighed by losses including at CIMB, Genting, BAT, Tenaga, Telekom and RHB Capital.

Europe's top shares opened lower on Monday on the political concerns, but attention was expected to switch to the economy, with euro zone manufacturing activity indicators due out later after data from China showed some signs of recovery in factory output but not enough to prevent the sector contracting, said Reuters.

At the regional markets, Hong Kong’s hang Seng Index lost 1.84% to 20,634.39, Singapore’s Straits Times Index lost 1.11% to 2,961.18, the Shanghai Composite Index fell 0.76% to 2,388.59, Taiwan’s Taiex was down 0.35% to 7,481.09, and Japan’s Nikkei 225 shed 0.20% to 9,542.17, whiel South Korea’s Kospi edged down 0.10% to 1,972.63.

Among the major losers on Monday, BAT fell 98 sen to RM55.540, Aeon and Jaya Tiasa fell 21 sen each to RM9.20 and RM9.76, Genting 18 sen to RM10.62, Boustead 17 sen to RM5.28, Bumi Armada and CSL 16 sen each to RM4.31 and RM1.49, Warisan and Nestle down 14 sen each to RM2.34 and RM55.84, while Subur Tiasa fell 13 sen to RM2.95.

Other decliners included CIMB and Telekom that fell five sen each to RM7.50 and RM5/37, whiel RHB Capital and Tenaga lost four sen each to RM7.39 and RM6.48.

Araiantec was the most actively traded counter with 396.6 million shares done. The stock gained two sen to 24 sen.

Other actives included Metronic, Asral Supreme, Focus, Naim Indah Corp, JCY and Jotech.

Advancing stocks included Petronas Dagangan, Aeon Credit, United PLANTATION []s, Dutch Lady, Kencana, SapuraCrest, Manulife, Litrak and BIntulu Port.



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KLCI struggles to breach 1,600-mark

KUALA LUMPUR (APRIL 17): The FBM KLCI stayed in positive territory in the morning session on Tuesday, but struggled to breach the 1,600-point mark as regional markets mostly retreated on mounting concerns over the euro zone sovereign debt crisis.

Asian shares were capped while the euro fell on Tuesday, as soaring Spanish borrowing costs underscored the fading impact of the European Central Bank's bond purchases and stoked investor nervousness over euro zone debt woes, according to Reuters.

The FBM KLCI was up 0.69 of a point to 1,598.20 at the mid-day break.

Gainers trailed losers by 283 to 278, while 322 counters traded unchanged. Volume was 1.2 billion shares valued at RM669.23 million.

The ringgit strengthened 0.03% to 3.0665 versus the greenback, crude palm oil futures for the third month delivery fell RM2 per tonne to RM3,485, crude oil was unchanged at US$102.93 per barrel while gold fell US$2.63 an ounce to US$1,649.25.

At the regional markets, Japan’s Nikkei 225 edged up 0.11% top 9,480.84 while Taiwan’s Taiex fell 1.61% to 7,605.13, Hong Kong’s hang Seng Index lost 0.58% to 20,490.90, Singapore’s Straits Times Index was down 0.39% to 2,980.57, South Korea’s Kospi shed 0.30% to 1,986.75 and the Shanghai Composite Index inched down 0.18% to 2,352.72.

Mybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Tuesday said the FBM KLCI dropped 5.61 points to close at 1,597.51 on Monday.

“Its resistance areas of 1,597 and 1,609 may cap market gains, whilst the obvious support areas are located at 1,580 and 1,594,’ he said.

He said despite the US markets’ mixed tone last night, Bursa Malaysia could be in for a low-volume trading day.

“From the 1,310.53 low (Sept 2011), the market has surged past its previous resistance of 1,597.08 to stall at 1,600.33 (On April 3).

“Bearish divergence is ample and investors may liquidate on rallies,” he said.

SAM Engineering was the top gainer in the morning session and rose 41 sen to RM3.60, Hartalega added 16 sen to RM8.12, CSL 14 sen to RM1.62, Far East and Subur Tiasa gained 10 sen each to RM7.60 and RM2.73, Rapid nine sen to RM2.54, Carlsberg eight sen to RM10.90, MBSB and Lafarge Malayan Cement gained seven sen each to RM2.23 and RM7.29, while Golsta was up 6.5 sen to 59.5 sen.

Among the decliners, Dutch Lady fell 46 sen to RM23.70, SMPC fell 25 sen to RM1.08, Nestle down 16 sen to RM55.84, Sarawak Oil Palms lost 13 sen to RM6.81, Iretex 12 sen to RM1, Knusford and Bintulu Port fell 10 sen each to RM1.80 and RM6.90, while MalPac and Ta Ann lost nine sen each to RM1.49 and RM6.60.

Ariantec was the most actively traded counter with 315.47 million shares done. The stock rose 5.5 sen to 17 sen.

Other actives included Metronic, Focus, Ingenuity Solutions, SuperComNet, Naim Indah Corp and JCY.



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World economic concerns weigh on KLCI

KUALA LUMPUR (April 17) : The Malaysian equities barometer rose on Tuesday morning against a backdrop of mixed global economic updates. These include news on European sovereign debt woes which offset the effects of improved retail sales in the US.

Analysts said the FBM KLCI could take the cue from the mixed overnight performance of US equity benchmarks against concerns on the impact of Europe’s debt crisis on world financial markets.

“In the absence of fresh market leads, our Malaysian bourse will probably continue to be range-bound for the time being,” HwangDBS Vickers Research Sdn Bhd wrote in a note.

At 10am, the FBM KLCI added 2.19 points to 1,599.7. Across the exchange, some 476 million shares worth RM183 million were traded, leading to 93 gainers versus 139 decliners.

Among top gainers, PETRONAS GAS BHD [] added 10 sen to RM16.88 while GUAN CHONG BHD [] was up eight sen to RM2.95.

Decliners include NESTLE (M) BHD [] which fell 18 sen to RM55.82 while SARAWAK OIL PALMS BHD [] was down 14 sen to RM6.80.

Among Asian bourses, Japan’s Nikkei 225 climbed 0.38% to 9,506.47 points while Australia’s S&P/ ASX 200 rose 0.32% to 4,315.9. South Korea’s Kospi was up 0.2% to 1,996.6.



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FBM KLCI down on global economic concerns

KUALA LUMPUR (April 12) : Malaysian shares fell on Thursday morning as trading resumed following Wednesday’s public holiday. The FBM KLCI traded lower as investors reacted to global economic concerns which had dragged Asian markets down on Wednesday.

Crucial highlights include sovereign debt woes in Europe and growth prospect in the US and China, all of which, are major importing nations. In technical terms, analysts said selling in the FBM KLCI is still prevalent as the index failed to close higher than the 1,600 level after April 4.

“This comes on the back of a “negative divergence” in the daily relative strength index (RSI) where the daily RSI reading for the April price peak is below that of early March.

“Nonetheless, the index’s upward trend in the past six months is by no means over,” OSK Research Sdn Bhd technical analyst Mohammad Ashraf Abu Bakar wrote in a note.

At 10am, the FBM KLCI fell 0.24 point to 1,596.93. Across the exchange, some 217 million shares worth RM171 million were traded, leading to 171 gainers versus 189 decliners.

Top gainers SMPC Corp Bhd rose 27 sen to RM1.41 while Genting PLANTATION []s Bhd added 13 sen to RM9.65

Decliners NESTLE (M) BHD [] fell 26 sen to RM55.70 while BRITISH AMERICAN TOBACCO (M) [] Bhd was down 20 sen to RM54.50.



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KLCI stays above 1,600-level at mid-day break

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.



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KLCI edges lower at mid-morning as regional markets dip

KUALA LUMPUR (March 29): the FBM KLCI edged lower on Thursday in line with the weaker sentiment at key regional markets, following the sharp decline at the Shanghai Composite Index a day earlier.

Asian shares eased for a second day in a row on Thursday, as investors limited their risk exposures on concerns about growth prospects in the world's two largest economies, the United States and China, according to Reuters.

Commodity related assets were likely to be on the defensive after oil and copper fell the previous day, while a sharp decline in Chinese shares will weigh on the Australian dollar, as China is Australia's single largest export market, it said.

The FBM KLCI was down 0.29 of a point to 1,583.46 at 10am. Gainers trailed losers by 143 ti 208, while 238 counters traded unchanged. Volume was 356.91 million shares valued at RN160.94 million.

At the regional markets, Japan’s Nikkei fell 0.88% to 10,093.20, Hong Kong’Hang Seng Index lost 1.13% to 20,649.60, the Shanghai Composite Index shed 0.75% to 2,267.81, Taiwan’s taiex lost 1.83% to 7,890.95, South Korea’s Kospi fell 1.26% to 2,006.14 and Singapore’s Straits Times Index fell 0.54% to 2,999.55.

BIMB Securities Research in a note March 29 said equity markets ended lower (on March 28) amid a directionless trading day.

With no new developments, traders revisited “old” concerns of slowing global economy to justify their selling on oil and commodities related stocks, it said.

“As a consequence, the Dow Jones Industrial Average dipped almost 72 points to 13,126. Reflecting the less than optimistic sentiments, European bourses also succumbed to the selling pressure and closed yesterday’s session broadly lower,” it said.

The research house said Asian equities followed suit with only a handful managed to close on a positive territory.

Taking cue from a weaker regional performance, the FBM KLCI lost 4 points to just below the immediate 1,585 support at 1,583.75, it said.

“Meanwhile, we again saw a net foreign participation of RM132 million yesterday pushing year-to-date total to RM4.67billion.

“Although the amount is not huge, foreign funds have been trickling in continuously for the month of March with a cumulative amount of a whopping RM2.8 billion. We expect some market weakness today with the immediate support at 1,580,” it said.

On Bursa Malaysia, GAB was the top loser at mid-morning and fell 16 sen to RM13.08, BLD PLANTATION []s down 15 sen to RM9.25, RHB Capital nine sen to RM&.81, Hong Leong Bank, Panasonic and Tenaga fell eight sen each to RM12.14, RM21.92 and RM6.34 respectively, SBC Corp seven sen to 91 sen, while Nestle, KrisAssets and HLFG fell six sen each to RM55.90, RM6.94 and RM12.22 respectively.

Naim Indah Corp was the most actively traded counter wit h 47.23 million shares done. The stock rose 1.5 sen to 49.5 sen.

Other actives included SuperComnet, Ariantec, metronic, Iris Corp, Key West, Hubline warrants and Bintai.

Gainers included Dutch Lady, BAT, Toyo Ink, shell, Crescendo, MUH, Southern acids, UAC and MISC.



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KLCI marginally in the black, regional markets struggle

KUALA LUMPUR (March 26): The FBM KLCI managed to remain in positive territory at mid-day on Monday, while its regional peers struggled to sustain gains and were traded mixed.

At the mid-day break, the FBM KLCI edged up 0.91 of a point to 1,586.74. Gainers trailed losers by 210 to 425, while 299 counters were unchanged. Volume was 731.25 million shares valued at RM515.39 million.

The ringgit strengthened 0.08% to 3.0730 versus the US dollar; crude palm oil futures for the third month delivery rose RM28 per tonne to RM3,455, crude oil fell 27 cents per barrel to US$106.60 while gold shed 35 cents an ounce to US$1,661.55.

Meanwhile, Asian shares struggled on Monday, with materials and TECHNOLOGY [] stocks losing ground amid concerns about the impact on profits of a slowdown in the global economy, according to Reuters.

Commodity-linked currencies such as the Australian dollar steadied after a hammering last week on worries of easing demand for resources from China, while the euro held near a three-week high, it said.

At the regional markets, Japan’s Nikkei 225 was up 0.25% to 10,036.60, Hong Kong’s Hang Seng Index edged up 0.02% to 20,673.40, the Shanghai Composite Index gained 0.10% to 2,351.87 while South Korea’s Kospi fell 0.52% to 2,016.27, Singapore’s Straits Times Index shed 0.21% to 2,983.87 and Taiwan’s Taiex was down 1.34% to 7,968.33.

On Bursa Malaysia, Dutch lady was the top gainer and rose 32 sen to RM31.30.

Supercomnet, which rose 18.5 sen to 48.5 sen with 226.6 million shares done, was earlier queried by Bursa Malaysia Securities Bhd over the sharp price rise and high volume in its shares.

Other gainers included SMPC that rose 18 sen to RM1.74, HLFG up 16 sen to RM12.16, PPB 12 sen to RM16.76, BAT 10 sen to RM53.90, MajuPerak 9.5 sen to 38 sen, Unisem nine sen to RM1.42 and Nestle eight sen to RM55.98.

Decliners included Chin Teck PLANTATION []s, Far East, Carlsberg, Aeon Credit, Manulife, Tenaga, WCT and Tradewinds.

Meanwhile, the actively traded stocks included metronic, Karambunai, Focus, Ariantec, Supercomnet, Ingenuity Solutions, Trinity and DPS.



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Stocks advance in early trade, boost from Genting

KUALA LUMPUR (March 23): Blue chips started Friday on a firm note, despite the weaker regional markets, boosted by gains in GENTING BHD [] and Petronas Gas.

At 9.08am, the FBM KLCI was up 2.32 points to 1,585.56. Turnover was 192.74 million shares valued at RM42.05 million. Advancers led decliners 85 to 66 while 132 stocks were unchanged.

CIMB Equities Research said in its technical outlook that the KLCI continued to hang on above the rising wedge resistance-turned-support trend line yesterday. It seems that prices could still make one more push, possibly towards its previous swing high of 1,597 before a deeper correction would take place.

“However, sustainability is the key concern here. If the candles fail to hold on above the 1,575 level, then it would invite selling pressure in days to come. Falling below 1,550 would eliminate all bullish potential in the near term,” it said in its technical report.

Among the blue chips, BAT was up 32 sen to RM53.62 with 100 shares done while PetGas added 18 sen to RM16.70 with 200 units done.

Genting added 14 sen to RM10.90, UMW 12 sen to RM7.25 while Nestle added eight sen to RM55.98 and Sime Darby five sen to RM9.78.

Lipo jumed 15 sen to RM1.19 and Kobay nine sen to 88 sen. Kobay is acquiring full control of its 53.16% subsidiary Lipo via a selective capital reduction and repayment exercise.

Kobay requested Lipo to reduce the paid-up by cancelling one share for every RM1 paid by Lipo to shareholders as capital repayment. All entitled shareholders will receive a cash payment amounting to RM1.25 per Lipo share under the proposed SCR.



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FBM KLCI erases losses, in positive territory at midday

KUALA LUMPUR (March 22) : The FBM KLCI erased earlier losses to settle in positive territory at midday as Asian stock markets fell on weaker economic sentiments in China.

This follows updates that the HSBC flash PMI, a gauge for China's industrial activity, declined to 48.1 in March from 49.6 in February .

In Malaysia, the 30-stock FBM KLCI rose 3.05 points to 1,585.58 at 12.30pm with 1.75 billion shares worth RM665.79 million traded. There were 312 gainers versus 334 decliners while 326 stocks were unchanged.

Among Asian indices, Hong Kong’s Hang Seng fell 0.02% to 20,851.9 points, South Korea’s Kospi lost 0.26% to 2,021.94 while the Shanghai Composite was down 0.42% to 2,368.19

Ar Bursa Malaysia, the top gainer KUALA LUMPUR KEPONG BHD [] added 48 sen to RM23.90 while BAT was up 38 sen to RM53.58.

Decliners include Far East which fell 13 sen to RM7.27 while Nestle was down 12 sen to RM55.88.

Most active was 1Utopia which added 2.5 sen to 10 sen with some 242 million shares done.



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FBM KLCI slips into the red, rebounds towards midday

KUALA LUMPUR (March 19) : Malaysian equities briefly slipped into the red before rebounding into positive territory towards midday. Analysts have a downside bias perception on the technical dynamics of the FBM KLCI until more domestic catalysts emerge to arrest the weakness in the local market.

For now, they said external news flow, especially, more positive economic data from the US should give a boost to Asian equities. These include the anticipation of better housing market figures from the world’s largest economy this week.

At 12.30pm, the 30-stock-FBM KLCI rose 2.25 points to 1,573.65 with some 1.05 billion shares worth RM658 million traded. The index which had reached an intraday high of 1,574.3 points earlier had declined to an intraday low of 1,570.88 points.

Across the exchange, there were 265 gainers versus 363 decliners while 287 stocks were unchanged.

Top gainers include PETRONAS GAS BHD [] which added 38 sen to RM16.38 followed by EKOVEST BHD [] which gained 16 sen to RM2.75.

Decliners include NESTLE (M) BHD [] which fell 20 sen to RM55.80 while AEON CREDIT SERVICE (M) BHD [] was also down by a similar quantum to RM9.20.

Most active was Ariantec Global Bhd which added 2.5 sen to 12 sen with some 133 million shares done.

Comments from International Monetary Fund managing director Christine Lagarde over the weekend had offered support to Asian equities on Monday morning. Lagarde said the world economy has stepped back from the brink of danger and signs of stabilisation are emerging from the euro zone and the US.

She, however, warned that high debt levels in developed economies and rising crude oil prices are still crucial risks for the global backdrop.

Major Asian stock indices saw gains towards midday. Japan’s Nikkei 225 climbed 0.26% to 10,156.1 points , Hong Kong’s Hang Seng was up 0.27% to 21,375.6 while Australia’s S&P/ASX 200 gained 0.51% to 4,298.1



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FBM KLCI pares down gains on Friday noon

KUALA LUMPUR (March 16) : Malaysian stocks pared down earlier gains towards midday against cautious sentiment across Asian bourses as investors weigh China’s economic growth concerns versus improving sentiments in the US.

At 12.30pm, the FBM KLCI rose 1.31 points to 1,580.69 points, spurred by banking stocks. The index had earlier gained as much as 0.3% or 4.17 points to 1,583.55 during intr morning trade.

Turnover across Bursa Malaysia came to 1.38 billion shares worth some RM727 million. There were 329 gainers versus 286 decliners while 342 stocks were unchanged.

Top gainer THETA-WA rose 26 sen to 46 sen followed by United PLANTATION []s Bhd which added 22 sen to RM25.20.

Decliners include NESTLE (M) BHD [] which lost 30 sen to RM55.70 while LAFARGE MALAYAN CEMENT BHD [] was down 15 sen to RM7.15

Most active was METRONIC GLOBAL BHD []. The stock which received an unusual market activity query by regulators, jumped 56% or 4.5 sen to settle at 12.5 sen at lunch break with some 341 million shares done.

Analysts said Malaysian stocks may continue to trade sideways ahead of the weekend, as Asian equities consolidate seen due to weaker sentiment on China's economic growth prospects.

Among Asian indices, Australia’s S&P/ASX 200 declined 0.01% to 4,277.2 points, Taiwan’s Taiex fell 0.12% to 8,112.07 while South Korea’s Kospi was down 0.22% to 2,039.3. Hong Kong’s Hang Seng lost 0.23% to 21,303.6.

China stocks, however, rebounded following a sell down in recent days. The Shanghai Composite rose 0.35% to 2,382.15 points.

China’s outgoing premier Wen Jiabao had said on Wednesday that measures to curb property speculation must be maintained to prevent a real estate bubble which will be detrimental to the country’s economy. On Thursday, the Commerce Ministry announced that China’s foreign direct investment fell 0.9% to US$7.7 billion in February from a year earlier.

US Treasury Secretary Timothy Geithner said on Thursday the world’s largest economy is showing indications of early growth but still has to contend with tough challenges which require policymakers to undertake measures to generate jobs.



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