KLCI retreats for second day, but pares down losses to stay above 1,590 at mid-day

KUALA LUMPUR (April 5): The FBM KLCI retreated for a second day on Thursday, in line with the weaker overnight close at most global markets as European debt woes stung risk appetite across the board.

At the mid-day break, the FBM KLCI was down 5.86 points to 1,593.41. The index had earlier slipped to its intra-morning low of 1,591.85.

Losers led gainers by 333 to 170, while 351 counters traded unchanged. Volume was 589.37 million shared valued at RM388.82 million.

The ringgit was flat at 3.0650 versus the US dolar; crude palm oil futures for the third month delivery fell RM6 per tonne to RM3,514, crude oil added 76 US cents per barrel to US102.23 while gold gained US$2.60 an ounce to US$1,623.38.

Asian shares fell on Thursday after a weak Spanish bond sale heightened concerns about funding difficulties for weaker eurozone countries, further undermining sentiment hurt by fading expectations of more stimulus from the US Federal Reserve, according to Reuters.

MSCI's broadest index of Asia Pacific shares outside Japan fell for a second straight session, easing as much as 1.3% to a four-week low, while Japan's Nikkei average fell 0.9%, also to a four-week low, after putting in its worst performance in five months a day earlier, it said.

At the regional markets, Japan’s Nikkei 225 fell 1.04% to 9,718.14, Hong Kong’s Hang Seng Index lost 1.09% to 20,564.30, the Shanghai Composite Index fell 1.37% to 2,293.89, Taiwan’s taiex fell 1.7% to 7,628.59, South Korea’s Kospi shed 0.21% to 2,014.44 and Singapore’s Straits Times Index shed 0.05% to 2,986.40.

On Bursa Malaysia, F&N was the top loser in the morning session and fell 26 sen to RM18.74, Sarawak OIL Palms and Genting fell 12 sen each to RM6.69 and RM12.96, Milux fell 10 sen to RM1.30, SHH, Metrod and Aeon Credit down nine sen each to 23 sen, RM1.91 and RM8.80, while Amway lost eight sen to RM9.82.

Among the gainers, Jaya Tiasa rose 24 sen to RM9, Tradewinds PLANTATION []s added eight sen to RM5.02, APB 7.5 sen to RM1, Ipmuda up seven sen to 77 sen, BHIC and Tecnic added six sen each to RM3.34 and RM3.98, while Tiong Nam Logistics and Takaful rose five sen each to RM1.03 and RM3.27.

Metronic was the most actively traded counter with 82.75 million shares done. The stock gained 1.5 sen to 16.5 sen.

Other actives included Ariantec, Naim Indah Corp, Tiger Synergy, SuperComnet, Ingenuity Solutions Focus, key West and Kurnia Asia.



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KLCI pauses in line with regional markets

KUALA LUMPUR (March 12): The FBM KLCI slipped at mid-morning on Monday in line with the cautious sentiment at most regional markets.

Asian shares fell on Monday as investors paused to assess the effect of strong U.S. jobs data, which scaled back expectations for more easing ahead of this week's Federal Reserve meeting, while concerns over China's slowdown also weighed on sentiment, according to Reuters.

The FBM KLCI shed 0.90 of a point to 1,578.10 at 10am, weighed by losses at select blue chips.

Gainers led losers by 219 to 165, while 221 counters traded unchanged. Volume was 310.96 million shares valued at RM194.03 million.

At the regional markets, Japan’s Nikkei 225 was up 0.25% to 9,955.00, Hong Kong’s Hang Seng Index edged up 0.01% to 21,087.90, the Shanghai Composite Index added 0.09% to 2,437.29, , and Singapore’s Straits Times Index added 0.15% to 2,967.70, while South Korea’s Kospi fell 0.40% to 2,010.20, Taiwan’s Taiex was down 0.07% to 8,010.31.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Monday said The FBM KLCI lost 4.78 points and closed at 1,579.00 last Friday.

The weaker support areas for the FBM KLCI are in the 1,530 to 1,572 zone, he said.

“The next resistance levels of 1,579 and 1,597 may see heavy liquidation activities,” he said.

On Bursa Malaysia, decliners at mid-morning included Sunchirin that fell eight sen to RM1.40, Petronas Chemicals down sevens sen to RM6.77. Media Prima, KLK and Kulim lost six sen each to RM2.65, RM23.34 and RM4.20 respectively, whiel Bursa and Public Bankl fell four sen each to RM7.38 and RM13.70,

Naim Indah Corp was the most actively traded counter with 83.4 million shares done. The stock added six sen to 70.5 sen.

Other actives included HLS Corp, HWGB,Key West, and Hubline.

Gainers included Petrol One that rose 30 sen to RM1.15, Ekovest up 21 sen to RM2.78. Nice 15.5 sen to 51 sen, Tecnic 15 sen to RM3.85, Lafarge Malayan Cement and Bonia 12 sen each to RM7.37 and RM2.64, P.I.E 11 sen to RM4.75, UMW 10 aen to RM7.30 and NWP eight sen to 24 sen.



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Market cautious, Sime provides lift to KLCI

KUALA LUMPUR (March 1): The broader market was cautious in late morning trade on Thursday following higher than expected losses from MAS and Proton and mixed regional markets.

However, heavyweight Sime Darby provided the lift to the FBM KLCI after its stronger set of second quarter results.

At 10.43am, the KLCI was up 4.87 points to 1,574.52. Turnover was 502.99 million shares valued at RM481.83 million. There were 226 gainers, 320 losers and 291 stocks unchanged.

Sime Darby rose 14 sen to RM9.83 with 10.80 million shares done. BAT gained 70 sen to RM52.90, GAB 26 sen to RM13.38, Petronas Dagangan 18 sen to RM18.34, Dijaya Corp 13 sen to RM1.55 and Petronas Gas 12 sen to Rm16.92.

Tecnic was the top loser, down 20 sen to RM3.81 while Silver Bird lost 17.5 sen to 23 sen and CSL 14 sen to RM1.24.

Among the PLANTATION []s, Far East lost 19 sen to RM7.11 in thin trade, NSOP 18 sen to RM5.90 and BLD Plantations 13 sen to RM9.37.



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KLCI drifts lower at mid-morning

KUALA LUMPUR (Dec 14): The FBM KLCI drifted lower on Wednesday, marginally extending its losses at mid-morning in line with the overall weaker sentiment at key regional markets.

At 10am, the FBM KLCI fell 1.60 points to 1,463.79 at 10am.

Gainers edged losers by 178 to 171, while 200 counters traded unchanged. Volume was 337.92 million shares valued at RM154.64 million.

Asian shares drifted lower and the euro floundered near an 11-month low on Wednesday after the Federal Reserve failed to take any new steps to stimulate growth and offset the chilling effects of Europe's still-unresolved debt crisis, according to Reuters.

Wall Street stocks fell after the US central bank's final policy meeting of the year, at which the Fed noted modest improvement in the US economy but added that market turbulence in the face of Europe's woes posed a big risk, it said.

At the regional markets, Hong Kong’s Hang Seng Index lost 0.71% to 18,316.30,the Shanghai Composite Index fell 0.59% to 2,235.29, Singapore Straits Times Index was down 0.42% to 2,674.57, Japan’s Nikkei lost 41% to 8,517.57, South Korea’s Kospi fell 0.38% to 1,857.04 and Taiwan’s Taiex was down 0.31% to 6,874.73.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Wednesday said the FBM KLCI’s resistance areas of 1,467 and 1,493 would cap market gains, whilst the weaker support areas may be located at 1,448 and 1,462.

“Due to the US markets’ poorer tone last night, we will have a volatile day for the local index today with further profit taking and liquidation,” he said.

On Bursa Malaysia, KLK and BAT fell 26 sen each to RM22.84 and RM48.44, Tecnic down 21 sen to RM3.10, BLD PLANTATION []s fell 16 sen to RM7.14, Hong Leong Bank was down 14 sen to RM10.40, YLI and Astral Asia down eight sen each to 32 sen and RM1.40, while AMMB, Boustead and Cypark fell seven sen each to RM5.79, RM5.35 and RM1.35 respectively.

Among the gainers, Nestle added 50 sen to RM56.50, Dutch Lady rose 20 sen each to RM26.60, F&N up 18 sen to RM18.40, GAB 16 sen to RM13.14, BIMB 12 sen to RM1.85, Goldis, CI Holdings and Guan Chong rose 11 sen each to RM1.90, RM1.28 and RM2.22 respectively, Kumpulan Europlus gained seven sen to RM1.10, while DiGi added six sen to RM3.73.

Meanwhile, the actives included Sanichi, Envair, TFP, Kurnia Asia, OSK, Takaso and Proton warrants.



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KLCI extends losses at mid-day break

KUALA LUMPUR (Nov 25): The FBM KLCI extended its losses at the mid-day break on Friday as key regional markets mostly remained in negative territory, as investor sentiment continued to be jittery on concerns of a wider impact from the eurozone debt crisis.

Asian markets fell as statements by German and French officials convinced markets that leaders were no closer to a consensus on how to contain the euro-zone debt crisis, according to Reuters.

The FBM KLCI lost 13.56 points to 1,434.43 at 12.30pm, weighed by losses at blue chips including Genting, Axiata and Petronas Gas.

Losers led gainers by 372 to 222, while 264 counters traded unchanged. Volume was 889.02 million shares valued at RM480.66 million.

The ringgit weakened 0.23% to 3.1933 versus the US dollar; crude palm oil futures for the third month delivery fell RM3 per tonne to RM3,105, crude oil added 47 cents per barrel to US$96.64 while gold slipped US$1.63 an ounce to US$1,692.70.

At the regional markets, Hong Kong’s Hang Seng Index fell 1.29% to 17,704.54, Taiwan’s Taiex lost 1.62% to 6,753.47, South Korea’s Kospi was down 1.35% to 1,770.89, Singapore’s Straits Times Index fell 1.08% to 2,648.24 and the Shanghai Composite Index shed 0.39% to 2,388.86.

Meanwhile, Japan’s Nikkei 225 edged up 0.03% to 8,167.25.

On Bursa Malaysia, Nestle, Milux and Genting lost 20 sen each to RM50.40, RM1.05 and RM10.08 respectively, Tradewinds fell 10 sen to RM9.30, PPB and MNRB down 18 sen each to RM16.08 and RM2.68, MMHE 16 sen to RM5.70, while Axiata and Petronas Gas fell 14 sen each to RM4.82 and RM13.12.

Among the gainers, Hong Leong Bank added 22 sen to RM10.42, F&N up 20 sen to RM17.90, TDM 19 sen to RM3.48, Knusford 16 sen to RM1.95, Supermax nine sen to RM3.51, while OIB, Batu Kawan and Tecnic added eight sen each to RM1.39, RM16.60 and RM2.80, respectively.

The actives included MUI Industries, Sumatec, JCY shares and warrants, MBF Holdings warrants and Emico.



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