KUALA LUMPUR (APRIL 9): The FBM KLCI ticked upward at the mid-day break on Tuesday and moved above the 1,590-point mark, while investors at the regional markets took a cautious stance.
Asian shares struggled on Tuesday as investors remained cautious after Chinese trade data showed the world's second largest economy may be able to achieve a soft landing but global growth concerns lingered given the sharp slowdown in U.S. job creation, according to Reuters.
The FBM KLCI added 4.38 points to 1,595.66 at the mid-day break.
Losers edged gainers by 257 to 297, while 295 counters traded unchanged. Volume was 471.75 million shares valued at RM531.72 million.
At the regional markets, Japan’s Nikkei 225 fell 0.20% to 9.565.81, Hong Kong’s hang Seng Index lost 1.11% to 20,365.10, the Shanghai Composite Index wa down 0.96% to 2,263.78, and South Korea’s Kopsi shed 0.03% to 1,996.55, while Singapore’s Straits Times Index added 0.23% to 2,967.04 and Taiwan’s Taiex gained 0.18% to 7,614.54.
BIMB Securities Research in a note Tuesday said that as expected, sellers overwhelmed Wall Street following the weak job data last week.
The Dow Jones Industrial Average consequently declined 130 points to 12,929 as funds flowed back to the US Treasuries as depicted by a dip in the 10 year Treasury yield to 2.04% (-0.14%), it said.
The research house said investors would pay heed to some of the upcoming corporate earnings due this week.
With European markets closed for Easter, regional markets have had a rather traumatic Monday with almost all ending up in a sea of red taking cue the weak job data, it said.
“As for the local bourse, its performance was in synch with the regional decline as the FBMKLCI lost 7.6 points to 1,591 just above the support level of 1,590.
“We expect the market to be lacklustre today with the index to see further decline albeit marginally as China continues to be plagued by the fine art of balancing between growth and inflation. We see current developments as excellent windows of opportunities to accumulate and expect the index to hover between 1,585-90,” it said.
ON Bursa Malaysia, Tradewinds PLANTATION []s was the top gainer in the morning session and added 28 sen to RM5.73, Tradewinds up 23 sen to RM10.18, Bonia 17 sen to RM2.60, KPJ 15 sen to RM5.31, Batu Kawan and SMPC up 14 sen each to RM18.68 and RM2.50, Genting 12 sen to RM10.96, YHS 11 sen to RM2.75 and Carlsberg added 10 sen to RM10.84.
Tiger Synergy was the most actively traded counter with 24.8 million shares done. The stock was unchanged at 15.5 sen.
Other actives included KBES, Digi, Naim Indah Corp, CSL, KTB, Managed Pay and Asia Media.
Meanwhile, the decliners included Nestle, Aeon, Lafarge Malayan Cement, Panasonic, UAC, Parkson, Amtek, Shangri-La, LPI and Milux.
Asian shares struggled on Tuesday as investors remained cautious after Chinese trade data showed the world's second largest economy may be able to achieve a soft landing but global growth concerns lingered given the sharp slowdown in U.S. job creation, according to Reuters.
The FBM KLCI added 4.38 points to 1,595.66 at the mid-day break.
Losers edged gainers by 257 to 297, while 295 counters traded unchanged. Volume was 471.75 million shares valued at RM531.72 million.
At the regional markets, Japan’s Nikkei 225 fell 0.20% to 9.565.81, Hong Kong’s hang Seng Index lost 1.11% to 20,365.10, the Shanghai Composite Index wa down 0.96% to 2,263.78, and South Korea’s Kopsi shed 0.03% to 1,996.55, while Singapore’s Straits Times Index added 0.23% to 2,967.04 and Taiwan’s Taiex gained 0.18% to 7,614.54.
BIMB Securities Research in a note Tuesday said that as expected, sellers overwhelmed Wall Street following the weak job data last week.
The Dow Jones Industrial Average consequently declined 130 points to 12,929 as funds flowed back to the US Treasuries as depicted by a dip in the 10 year Treasury yield to 2.04% (-0.14%), it said.
The research house said investors would pay heed to some of the upcoming corporate earnings due this week.
With European markets closed for Easter, regional markets have had a rather traumatic Monday with almost all ending up in a sea of red taking cue the weak job data, it said.
“As for the local bourse, its performance was in synch with the regional decline as the FBMKLCI lost 7.6 points to 1,591 just above the support level of 1,590.
“We expect the market to be lacklustre today with the index to see further decline albeit marginally as China continues to be plagued by the fine art of balancing between growth and inflation. We see current developments as excellent windows of opportunities to accumulate and expect the index to hover between 1,585-90,” it said.
ON Bursa Malaysia, Tradewinds PLANTATION []s was the top gainer in the morning session and added 28 sen to RM5.73, Tradewinds up 23 sen to RM10.18, Bonia 17 sen to RM2.60, KPJ 15 sen to RM5.31, Batu Kawan and SMPC up 14 sen each to RM18.68 and RM2.50, Genting 12 sen to RM10.96, YHS 11 sen to RM2.75 and Carlsberg added 10 sen to RM10.84.
Tiger Synergy was the most actively traded counter with 24.8 million shares done. The stock was unchanged at 15.5 sen.
Other actives included KBES, Digi, Naim Indah Corp, CSL, KTB, Managed Pay and Asia Media.
Meanwhile, the decliners included Nestle, Aeon, Lafarge Malayan Cement, Panasonic, UAC, Parkson, Amtek, Shangri-La, LPI and Milux.
