KUALA LUMPUR (Jan 9): Trading on the FBM KLCI remained lackluster at mid-morning on Monday as lack of fresh local leads as well as negative external sentiment kept investors on the sidelines.
Asian shares fell as renewed gloom about the fallout from the European sovereign debt crisis overshadowed signs of vigour in the US economy, according to Reuters.
Data on Friday showed that while US employment growth accelerated last month, euro zone retail sales fell and economic sentiment soured at the end of 2011, pointing to recession in the currency bloc, it said.
The FBM KLCI shed 0.03 point to 1,514.10 at 10.10am.
Gainers led losers by 249 to 160, while 236 counters traded unchanged. Volume was 395.02 million shares valued at RM213.43 million.
At the regional markets, Hong Kong’s Hang Seng Index lost 1.23% to 18,364.27, South Korea’s Kospi fell 1.31% to 1,818.92, Singapore’s Straits Times Index was down 1.03% to 2,687.49, Taiwan’s Taiex lost 0.77% to 7,065.53 and the Shanghai Composite Index shed 0.24% to 2,158.11.
Japan stock markets are closed for a national holiday.
BIMB Securities Research in a note Jan 9 said investors remained torn between US improving economic conditions and the “bubbling” undercurrent over in Europe.
As a result, Wall Street had a relatively mixed week before ending another 55 points lower amid a mixed performance from European bourses, it said.
The research house said that for this week, attention would be centred on corporate earnings for the 4Q11 in the US hence investors are expected to stay sidelined.
Taking lead from Europe’s weal opening, regional markets were rather mixed but the situation could be buoyed this week from signs that China has been easing its liquidity crunch with December’s loans growth higher than anticipated coupled with better M2 growth.
“In Malaysia, the FBM KLCI closed flat in tandem with regional performance.
“Unless there are fresh catalysts, we expect it to be another lacklustre performance. Immediate resistance is seen at 1,515 with 1,525 as the next level,” it said.
On Bursa Malaysia, Dutch Lady was the top gainer at mid-morning and was up 80 sen to RM26; Batu Kawan rose 42 sen to RM18.90, Harvest Court 32 sen to RM1.40, Can-One 19 sen to RM1.78, Hong Leong Bank 16 sen to RM10.92, Proton 15 sen to RM5.14, while Inno, Tradewinds PLANTATION []s and KPS added 12 sen each to RM1.48, RM4.45 and RM1.17 respectively.
Nextnation was the most actively traded counter with 27.4 million shares done. The stock added one sen to 12.5 en.
Other actives included KHSB, Takaso, DPS Gurney, DRB-Hicom, Proton and SYF Resources.
Meanwhile, decliners included Nestle, KLK, BLD Plantations, BAT, Parkson, Kian Jpp, Boxpak, Delloyd, Cepco and MMHE.
Asian shares fell as renewed gloom about the fallout from the European sovereign debt crisis overshadowed signs of vigour in the US economy, according to Reuters.
Data on Friday showed that while US employment growth accelerated last month, euro zone retail sales fell and economic sentiment soured at the end of 2011, pointing to recession in the currency bloc, it said.
The FBM KLCI shed 0.03 point to 1,514.10 at 10.10am.
Gainers led losers by 249 to 160, while 236 counters traded unchanged. Volume was 395.02 million shares valued at RM213.43 million.
At the regional markets, Hong Kong’s Hang Seng Index lost 1.23% to 18,364.27, South Korea’s Kospi fell 1.31% to 1,818.92, Singapore’s Straits Times Index was down 1.03% to 2,687.49, Taiwan’s Taiex lost 0.77% to 7,065.53 and the Shanghai Composite Index shed 0.24% to 2,158.11.
Japan stock markets are closed for a national holiday.
BIMB Securities Research in a note Jan 9 said investors remained torn between US improving economic conditions and the “bubbling” undercurrent over in Europe.
As a result, Wall Street had a relatively mixed week before ending another 55 points lower amid a mixed performance from European bourses, it said.
The research house said that for this week, attention would be centred on corporate earnings for the 4Q11 in the US hence investors are expected to stay sidelined.
Taking lead from Europe’s weal opening, regional markets were rather mixed but the situation could be buoyed this week from signs that China has been easing its liquidity crunch with December’s loans growth higher than anticipated coupled with better M2 growth.
“In Malaysia, the FBM KLCI closed flat in tandem with regional performance.
“Unless there are fresh catalysts, we expect it to be another lacklustre performance. Immediate resistance is seen at 1,515 with 1,525 as the next level,” it said.
On Bursa Malaysia, Dutch Lady was the top gainer at mid-morning and was up 80 sen to RM26; Batu Kawan rose 42 sen to RM18.90, Harvest Court 32 sen to RM1.40, Can-One 19 sen to RM1.78, Hong Leong Bank 16 sen to RM10.92, Proton 15 sen to RM5.14, while Inno, Tradewinds PLANTATION []s and KPS added 12 sen each to RM1.48, RM4.45 and RM1.17 respectively.
Nextnation was the most actively traded counter with 27.4 million shares done. The stock added one sen to 12.5 en.
Other actives included KHSB, Takaso, DPS Gurney, DRB-Hicom, Proton and SYF Resources.
Meanwhile, decliners included Nestle, KLK, BLD Plantations, BAT, Parkson, Kian Jpp, Boxpak, Delloyd, Cepco and MMHE.
