Asian markets mired in red as Europe stumbles

KUALA LUMPUR (May7): The FBM KLCI fell on Monday as Asian markets were mired in the red as European markets stumbled following election outcomes in France, Greece and Italy that raised concerns on whether euro zone economies will continue to pursue austerity measures.

Meanwhile, European equities slumped to 4-1/2 month lows on Monday after elections in France and Greece that reflected deep public discontent over austerity measures and cast doubt over the euro zone's ability to fix its debt crisis, according to Reuters.

Greece's benchmark stock index fell by more than 7 percent in early morning trading on Monday, after the country's main parties failed to win enough votes to form a ruling coalition following elections on Sunday, it said.

Royal Bank of Scotland strategists in a note Monday said the results of a number of elections across Europe that took place over the weekend were likely to keep the market squarely focused on politics this week, and on the results implications for the European policy response devised to address the debt crisis so far.

The FBM KLCI fell 6.71 points to 1,584.87 at 5pm, weighed by losses at select blue chips.

Market breadth was negative with 540 losers, 208 gainers and 305 counters trading unchanged. Volume was 963.02 million shares valued at RM1.19 billion.

At the regional markets, Japan’s Nikkei 225 lost 2.78% to 9,119.14, Hong Kong’s Hang Seng Index lost 2.61% to 20,536.65, Taiwan’s Taiex fell 2.11% to 7,538.08, South Korea’s Kospi was down 1.64% to 1,956.44 and Singapore’s Straits Times Index lost 2.08% to 2,928.34.

On Bursa Malaysia, Dutch Lady was the top loser and fell 34 sen to RM33.04, Tradewinds PLANTATION []s lost 23 sen to RM5.75, Tradewinds down 22 sen to RM9.82, SAM Engineering 19 sen to RM3.01, Hong Leong Bank, Genting Plantations and IJM Corp lost 16 sen each to RM12.20, RM9.44 and RM5.42 respectively, Allianz and Tahps down 15 sen each to RM4.60 and RM4.65, while Atlan fell 14 sen to RM4.26.

SAAG was the most actively traded counter with 48.97 million shares done. The stock gaindd half a sen to 7 sen.

Other actives included Ariantec, Time, Maybulk, Benalec, KFCH, Metronic, permaju, Naim Indah Corp and JCY.

Meanwhile, the gainers on Monday included Permaju, Country View, PMB Tech, Tasek, GAB, Lafarge Malayan Cement, MKH, KESM, Nestle and HLFG.



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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 in red till noon, focus on general election concerns

KUALA LUMPUR (April 27) : The FBM KLCI stayed in the red till lunch break on Friday as the local market takes the cue from domestic concerns ahead of the coming general election. Crucial highlights include 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 12.30pm, the FBM KLCI fell 8.01 points to 1,571.68.Across the exchange, some 759 million shares worth RM543 million were traded, leading to 216 gainers versus 356 decliners.

Top gainers NCB HOLDINGS BHD [] was up 46 sen to RM4.36 while COUNTRY VIEW BHD [] added 19 sen to 85 sen.

Among decliners, Sam Engineering & Equipment Bhd fell 37 sen to RM3 while United PLANTATION []s Bhd was down 24 sen to RM25.70.

Most active was Ariantec Global Bhd which gained 1.5 sen to 25 sen with some 267 million shares done.

Across Asia, Japan’s Nikkei 225 rose 0.12% to 9,573.64, Australia’s S&P/ASX 200 fell 0.05% to 4,373.2, while South Korea’s Kospi was up 0.48% to 1,973.55.



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KLCI closes lower, but pares down loses

KUALA LUMPUR (April 24): The FBM KLCI closed lower on Tuesday, but pared down it losses to move above the 1,580-point mark in line with the slight recovery at most key regional and European markets.

European share markets and the single currency staged modest recoveries on Tuesday, after steep losses caused by the worsening performance of the euro zone economy and a sharp rise in concern over the political will to fix its fiscal problems, according to Reuters.

The FBM KLCI fell 1.52 points to close at RM1,582.28. The index had earlier fallen to its intra-day low of 1,579.04.

Market breadth remained weak with 409 losers, 273 gainers and 348 counters trading unchanged. Volume was 1.42 billion shares valued at RM1.55 billion.

At the regional markets, Hong Kong’s hang Seng Index gained 0.26% to 20,677.16, Taiwan’s Taiex added 0.24% to 7,498.84, the Shanghai Composite Index edged up 0.01% to 2,388.83 and Singapore’s Straits Times Index

Meanwhile, South Korea’s Kospi fell 0.47% to 1,963.42 and Japan’s Nikkei 225 shed 0.78% to 9,468.04.

Among the decliners on Bursa Malaysia, Petronas dagangan fell 26 sen to RM19.28, Jaya Tiasa down 22 sen to RM9.54, Carlsberg 20 sen to RM11.30, SAM Engineering 17 sen to RM3.38, APM Automotive down 14 sen to RM4.50, Tradewinds 13 sen to RM9.52, S P Setia 11 sen to RM3.73, while Subur Tiasa and Ta Ann lost 10 sen each to RM2.85 and RM6.50.

Ariantec was the most actively trade counter with 142.38 million shares done. The stock gained one sen to 25 sen.

Other actives included Ingenuity Solutions, Metronic, Focus, CSL, Ramunia, TMS, JCY and Astral Supreme.

Gainers included Aeon Credit, Top Glove, CSL, Panasonic, MMC Corp, Three-A Resources, Quality Concrete, UMW and JCY.



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KLCI pares down losses at mid-day break, edges above 1,580-level

KUALA LUMPUR (April 24): The FBM KLCI pared down some of its earlier losses at the mid-day break on Tuesday and moved above the crucial 1,580-point level.

Meanwhile, Asian shares inched up on Tuesday but gains were limited as political uncertainty and disappointing data in Europe raised fears the euro zone could struggle to push through austerity measures and may stay in recession until late in the year, according to Reuters.

A weaker-than-expected reading of consumer inflation in Australia, a day after a weaker producer prices report, set the scene for an local rate cut next week and bolstered local shares up 0.4 percent from a flat early trade, it said.

The FBM KLCI was down 3.11 points to 1,580.69, weighed by losses at select blue chips including Petronas Dagangan, Genting and CIMB. The index had earlier fallen to its intra-morning low of 1,579.04.

Loser ebeat gainers by 379 to 191, while 314 counters traded unchanged. Volume was 727.97 million shares valued at RM608.87 million.

The ringgit weakened 0.009% to 3.0695 versus the greenback, crude palm oil futures for the third month delivery fell RM20 per tonne to RM3,455, crude oil shed 14 cents pare barrel to US$102.97 and gold lost US$2.15 an ounce to US$1,636.68.

At the regional markets, Japan’s Nikkei 225 fell 0.90% to 9,456.13, Hong Kong’s Hang Seng Index was down 0.32% to 20,559.10, the Shanghai Composite Index fell 1.4% to 2,355.17, Taiwan’s Taiex fell 0.23% to 7,464.14, South Korea’s Kospi was down 0.74% to 1,958.04 and Singapore’s Straits Times Index lost 0.34% to 2,972.53.

On Bursa Malaysia, SAM Engineering was the top loser and fell 29 sen to RM3.26, Petronas Dagangan down 24 sen to RM19.30, Jaya Tiasa 14 sen to RM9.62, S P Setia shed 13 sen to RM3.71, Hong Leong Bank 12 sen to RM12.30, while Dutch Lady, Carlsberg, AirAsia, Genting and CIMB fell eight sen each to RM35, RM11.42, RM3.40, RM10.54 and RM7.42 respectively.

Ingenuity Solutions was the most actively trade counter with 732 million shares done. The stock was unchanged at 9.5 sen.

Other actives included Ariantec, TMS, Focus, JCY, Ramunia, Metronic, Sanichi and CSL.

Meanwhile, the gainers in the morning session included Aeon Credit, United PLANTATION []s, Aeon, UMW, Quality Concrete, SapuraCrest, Fiamma, PacifiMas and KrisAssets.



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KLCI ends lower, but hangs on above 1,590-level

KUALA LUMPUR (April 20): The FBM KLCI extended its losses to close lower on Friday, as external factors weighed on investor sentiment and dragged stocks lower.

The index fell 4.77 points to close at 1,591.85, weighed by losses including at Petronas Chemicals, Genting, RHB Capital and CIMB.

Market breadth was negative with 364 losers, 317 gainers and 361 counters unchanged. Volume was 1.63 billion shares valued at RM1.48 billion.

Meanwhile, Asian shares fell and commodity-linked currencies such as the Australian dollar slipped on Friday after disappointing U.S. economic data stirred doubts about the strength of the recovery, according to Reuters.

Renewed worries on the euro zone debt crisis also kept riskier assets under pressure, as a better-than-feared Spanish bond auction failed to allay concerns that Spain may follow Greece, Ireland and Portugal in needing an international bailout, it said.

A weekend featuring a potentially rocky meeting of the International Monetary Fund, which is seeking to boost its funds to help contain Europe's problems, and the first round of a French presidential election have heightened the nervousness, said Reuters.

At the regional markets, Japan’s Nikkei 225 was down 0.28% to 9,561.23, Taiwan’s taiex lost 1.52% to 7,507.15, South Korea’s Kospi fell 1.26% to 1,974.65 and Singapore’s Straits Times Index xx

Meanwhile, the Shanghai Composite Index rose 1.19% to 2,406.86 and Hong Kong’s Hang Seng Index edged up 0.07% to 21,010.64.

On Bursa Malaysia, Aeon fell 19 sen to RM9.41, Manulife and Petronas Chemicals fell 14 sen each to RM3.22 and RM6.56, MISC down 13 sen to RM5.03, Genting and Bursa fell 12 sen each to RM10.80 and RM6.85, while SAM Engineering, Litrak, Lafarge Malayan Cement and Kian Joo fell 10 sen each to RM3.55, RM4, RM7.21 and RM2.04 respectively.

Ariantec was the most actievely traded counter with 436.8 million shares done. The stock rose 4.5 sen to 22 sen.

Other actives included Metronic, Focus, Naim indah Corp, CSL, Astral Supreme, AWC and SuperComNet.

Gainers included BAT, Dutch Lady, Aeon Credit, KLK, Jaya Tiasa, Panasonic, Country View, Carlsberg, CBIP and GAB.



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KLCI stays below 1,600-level at mid-day break, global woes weigh

KUALA LUMPUR (April 20); The FBM KLCI stayed in negative territory at the mid-day break on Friday in line with generally weaker performance at regional markets.

The FBM KLCI was down a marginal 1.14 points to 1,595.48 at 12.30pm, weighed by losses including at Genting and RHB Capital and CIMB.

Gainers trailed losers by 242 to 313, while 322 counters traded unchanged. Volume was 950.42 million shares valued at RM600.85 million.

The ringgit weakened 0.12% to 3.0693 versus the greenback, crude palm oil futures for the third month delivery fell RM16 per tonne to RM3,461, crude oil gaind 34 cents per barrel to US$102.61 while gold added US$1 an ounce to US$1,643.93.

Asian shares fell and commodity-linked currencies such as the Australian dollar slipped on Friday after disappointing U.S. economic data stirred doubts about the strength of the recovery, according to Reuters.

Renewed worries on the euro zone debt crisis also kept riskier assets under pressure, as a better-than-feared Spanish bond auction failed to allay concerns that Spain may follow Greece, Ireland and Portugal in needing an international bailout, it said.

At the regional markets, Japan’s Nikkei 225 fell 0.35% to 9,555.17, Hong Kong’s Hang Seng Index was down 0.24% to 0.24% to 20,944.10, the Shanghai Composite Index shed 0.60% to 2,392.92, Taiwan’s Taiex fell 1.12% to 7,537.58, South Korea’s Kospi lost 1.25% to 1,974.93 and Singapore’s Straits Times Index was down 0.20% to 3,002.14.

On Bursa Malaysia, Manulife was the top loser in the morning session and fell 14 sen to RM3.22, Batu Kawan and genting fell 10 sen each to RM18.80 and RM10.82, RHB Capital fell nine sen to RM7.43, Mentiga 7.5 sen to 68.5 sen, while SAM Engineering, Pintaras, S P Setia, Guan Chong and CIMB fell seven each to RM3.58, RM2.96, RM3.81, RM2.85 and RM7.56 respectively.

Ariantec was the most actively traded counter with 325.08 million shares traded. The stosk rose six sen to 23.5 sen.

Other actives included Metronic, Focus, CSL, SuperComNet, Astral Supreme, AWC and Utopia.

Gainers included BAT, Aeon Credit, KLK, Panasonic, Country View, Jaya Tiasa, Dutch Lady, Far East, Ta Ann and CBIP.



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KLCI closes lower as investors remain jittery

KUALA LUMPUR (April 19): The FBM KLCI closed lower on Thursday, in line with the mixed sentiment at regional bourses underpinned by concerns of the Euro zone sovereign debt crisis.

Markets have grown jittery about the euro zone's capacity to prevent Spain's fiscal woes in particular from spreading to other vulnerable peripheral euro zone economies, despite massive liquidity injections by the European Central Bank, according to Reuters.

The FBM KLCI shed 2.24 points on Thursday to close at 1,596.62.

Market breadth turned negative with 429 losers, 281 gainers and 350 counters trading unchanged. Volume was 1.71 billion shares valued at RM1.56 billion.

At the regional markets, Japan’s Nikkei 225 fell 0.82% to 9.588.38, South Korea’s Kospi down 0.23% to 1,999.86 and the Shanghai Composite Index shed 0.09% to 2,378.63.

Meanwhile, Taiwan’s Taiex gained 0.23% to 7,622.69.

On Bursa Malaysia, Dutch Lady fell 60 sen to RM34.38, KLK down 40 sen to RM23.80, BAT shed 20 sen to RM55, Country View down 18 sen to 64 sen, CSL 15 sen to RM1.53, SAM Engineering 14 sen to RM3.65, Tradewinds and KESM down 13 sen each to RM9.69 and RM2.05, while Subur Tiasa lost 10 sen to RM2.98.

Ariantec was the most actively traded couter with 266.8 million shares done. The stock fell 1.5 sen to 17.5 sen.

Other actives included Utopia, CSL, Metronic, DBE Gurney, Compugates, Managed Pay, Iris Corp and Astral Supreme.

Gainers on Thursday included Pintaras, F&N, GAB, Metal Reclamation, Tan Chong, Can-One, Kian Joo, Bintulu Port and Genting.



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KLCI slips into the red at mid-day break

KUALA LUMPUR (April 19): The FBM KLCI gave up some ground to slip into negative territory at the mid-day break on Thursday, in line with the generally tepid sentiment at key regional markets.

Asian shares and the euro traded in tight ranges on Thursday ahead of a Spanish bond sale seen as a key test of investors' risk appetite amid renewed concerns over the euro zone's debt crisis, according to Reuters.

Meanwhile, U.S. stocks slipped on Wednesday, a day after Wall Street's best gains in a month, as uninspiring earnings from tech bellwethers IBM and Intel gave investors a reason to take profits, according to Reuters

The FBM KLCI fell 2.80 points to 1,596.06 at 12.30pm, weighed by losses at select blue chips including CIMB, KLK, Maybank and Genting.

Losers beat gainers by 358 to 221, while 311 counters traded unchanged. Volume was 1.02 billion shares valued at RM661.94 million.

The ringgit weakened 0.13% to 3.0686 versus the greenback, crude palm oil futures for the third month delivery fell RM30 per tonne to RM3,449, crude oil shed 11 cents per barrel to US$102.56 while gold lost US$4.50 an ounce to US$1,637.60.

At the regional markets, Japan’s Nikkei 225 fell 0.89% to 9,580.90, the Shanghai Composite Index down 0.14% to 2,377.57, Singapore’s Straits Times Index fell 0.08% to 2,998.17, south Korea’s Kospi lost 0.33% to 1,997.92, Taiwan’s Taiex edged down 0.01% to 7,604.367 while Hong Kong’s Hang Seng Index gained 0.36% to 20,856.40.

Among the major losers on Bursa Malaysia, Dutch Lady lost 38 sen to RM34.60, KLK 24 sen to RM23.96, Country View 21 sen to 61 sen, Tradewinds 16 sen to RM9.66, KESM and SAM Engineering down 12 sen each to RM2.06 and RM3.67, CSL 10 sen to RM1.68, Subur Tiasa eight sen to RM3 and Nice seven sen to 31 sen.

Meanwhile, CIMB lost three sen to RM7.64, Maybank and Genting down two sen each to M8.85 and RM10.80, and DiGi was down one sen to RM3.92.

Ariantec was the most actively traded counter with 143.99 million shares done. The stock was unchanged at 19 sen.

Other actives included Utopia, CSL, metronic, DBE Gurney, Compugates, Iris Corp and Astral Supreme.

Gainers included Can-One, Tan Chong, F&N, Pintaras, Jaya Tiasa, Bintulu Port, Aeon Credit, Utusan and GAB.



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Positive external vibes prop KLCI higher, but index stays shy of 1,600-mark

KUALA LUMPUR (April 18): The FBM KLCI closed higher on Wednesday, in line with the firmer performance at key regional markets, which saw Japan’s Nikkei 225 rising 2%, but the local benchmark index stayed shy of the 1,600 point level.

Japan's Nikkei index rallied 2.1 percent on Wednesday on robust U.S. corporate earnings, firm demand for Spanish debt and an upbeat German economic sentiment survey, with signals that the Bank of Japan may take more easing steps also providing momentum, according to Reuters.

Mewnwhile, China shares also ended up 2% on Wednesday, the biggest one-day percentage rise in more than two months, led by finance and property sectors on expectations the government would ease monetary policy, it said.

The FBM KLCI was up 2.67 points to close at 1,598.86.

Gainers edged losers by 394 to 350, while 337 counters traded unchanged. Volume was 2.13 billion shares valued at RM1.62 billion.

At the regional markets, Jpan’s Nikkei 225 rose 2.14% to 9.667.26, the Shanghai Composite Inde gained 1.96% to 2,380.85, Hong Kong’s Hang Seng Index was up 1.06% to 20,780.73, South Korea’s Kospi added 0.97% to 2,004.53, Taiwan’s Taiex edged up 0.25% to 7,605.00 and Singapore’s Straits Times Index

Among the gainers on Bursa Malaysia, BAT rose 74 sen to RM55.20, United PLANTATION []s up 40 sen to RM25, Dutch Lady 38 sen to RM34.98, Subur Tiasa 26 sen to RM3.08, Carlsberg 24 sen to RM11.28, SAM Engineering and Can-One 20 sen each to RM3.79 and RM2m, while KESM and Hong Leong Industries added 18 sen each to RM2.18 and RM4.29.

Metronic was the most actively traded counter with 362.76 million shares done. The stock added two sen to 19.5 sen.

Other actives included Ariantec, SuperComNet, Focus, Naim Indah Corp, Sanichi, DVM, CSL, Asral Supreme and Tiger Synergy.

Decliners included Tradewinds, Tan Chong, KLK, Genting, Far East, PMB Tech, Aeon Credit and Tradewinds Plantations.



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KLCI stays put above 1,600-mark at mid-day break

KUALA LUMPUR (APRIL 18): The FBM KLCI stayed put above the crucial 1,600-point level at the mid-day break on Wednesday, up in tandem with its key regional peers that rose on the back of a firmer overnight close at Wall Street.

Asian shares rose on Wednesday as firm demand at Spanish debt sales, positive U.S. corporate earnings and an improvement in a key German sentiment survey boosted investor confidence in riskier assets, according to Reuters.

The FBM KLCI rose 5.05 points to 1,601.24 at the mid-dy break, lifted by key blue chips including Maybank, CIMB, Sime darby, Axiata and Tenaga.

The broader market sentiment improved with 319 gainers, 297 losers and 310 counters trading unchanged. Volume was 1.43 billion shares valued at RM757.83 million.

The ringgit strengthened 0.04% to 3.0642 versus the greenback, crude palm oil futures for the third month delivery fell RM8 per tonne to RM3,495, crude oil added 19 cents per barrel to US$102.39 while gold rose US$3.13 an ounce to US$1,652.70.

At the regional markets, Japan’s Nikkei 225 rose 1.85% to 9,639.36, Hong Kong’s Hang Seng Index up 1.2% to 20,808.80, the Shanghai Composite Index gained 1.33% to 2,366.11, south Korea’s Kospi rose 1.06% to 2,006.31 and Singapore’s Straits Times Index edged up 0.57% to 3,003.63, while Taiwan’s Taiex was up 0.39% to 7,615.42.

Among the gainers in the morning session, BAT rose 54 sen to RM55, Dutch Lady added 38 sen to RM34.98, SAM Engineering up 27 sen to RM3.86, subur Tiasa 22 sen to RM3.04, Carlsberg 20 sen to RM11.24, Hong Leong Industries 18 sen to RM4.29, while Tong Herr, Panasonic and United PLANTATION []s gained 10 sen each to RM2.49, RM21.70 and RM24.70.

Meanwhile, Maybank and CIMB rose six sen each to RM8.87 and RM7.68, Sime Darby, Axiata and Tenaga were up three sen each to RM9.93, RM5.39 and RM6.54 respectively.

Metronic was the most actively traded counter with 291.81 million shares done. The stock rose four sen to 21.5 sen.

Other actives included Ariantec, SuperComNet, Focus, Naim Indah Corp, Sanichi and SCL.

Decliners included Nestle, Far East, Sarawak Oil Palms, APM, PMB Tech, KLK, UMS, HLFG and SMPC.



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KLCI gains on Spanish bond sale, US corporate earnings

KUALA LUMPUR (April 18) : Malaysian stocks rose on Wednesday morning in tandem with Asian markets on strong demand for Spain government bonds and better US corporate earnings.

Analysts expect the FBM KLCI to register gains on Wednesday following a stronger overnight close across US markets.

“While increased speculation on ACE market and penny stocks lifted trading activity above the two billion shares mark yesterday, the lower traded value implies that the broader market and blue chips are likely to remain in consolidation mode on cautious trade,” TA Securities Holdings Bhd wrote in a note.

At 10.01am, the FBM KLCI added 5.25 points to 1,601.44. Across the exchange, some 519 million shares worth RM227 million were traded, leading to 265 gainers versus 136 decliners.

Top gainers Sam Engineering & Equipment (M) Bhd rose 29 sen to RM3.88 while SUBUR TIASA HOLDINGS BHD [] was up 20 sen to RM3.02.

Decliners SARAWAK OIL PALMS BHD [] fell 11 sen to RM6.77 while PETRONAS DAGANGAN BHD [] was down 10 sen to RM18.68.

Most active was Ariantec Global Bhd which rose two sen to 22 sen with some 157 million shares done.

Among Asian bourses, Japan’s Nikkei 225 climbed 1.64% to 9,619.46 points while Australia’s S&P/ ASX 200 rose 1.38% to 4,347.8. South Korea’s Kospi was up 1.01% to 2,005.43.



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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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KLCI erases gains, up 2.3pts at midday

KUALA LUMPUR (April 13): The Malaysian equities barometer erased earlier gains, but still managed to settle in positive territory towards the Friday lunch break.

Gains in the FBM KLCI were in tandem with global markets, which found support from updates that Italian government bonds have seen better than expected demand, although China's first quarter economic growth of 8.1% came in below street estimates.

In technical terms, analysts said dynamics of the FBM KLCI are still weak. In a note on Friday, Kenanga Investment Bank Bhd said that although the index had breached the 1,600-point level, technical dynamics of the index are still deemed weak unless the gauge trades above the all-time high of 1,609.33.

This could result in an uptrend resumption for the FBM KLCI, according to Kenanga.

At 12.30pm, the FBM KLCI added 2.3 points to 1,603.57. Across the exchange, some 653 million shares worth RM612 million were traded, leading to 331 gainers versus 277 decliners.

Top gainer Sam Engineering & Equipment (M) Bhd rose 58 sen to RM2.65, while GUINNESS ANCHOR BHD [] was up 36 sen to RM13.

Decliner Tradewinds PLANTATION [] Bhd fell 21 sen to RM5.69, while KLUANG RUBBER CO (M) BHD [] was down 10 sen to RM2.80.

Most active was INGENUITY SOLUTIONS BHD [], which added one sen to 10 sen with some 100 million shares done.

Among Asian bourses, Japan's Nikkei 225 rose 1.41% to 9,658.66 points, while Australia's S&P/ASX 200 added 0.8% to 4,314.7. The Shanghai Composite was up 0.18% 2,355.14.



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