KUALA LUMPUR: The FBM KLCI stayed in positive territory at mid-morning on Monday, June 14 in line with the gains at key Asian markets, as well as on advancing key blue chips including CIMB, Maybank, TM and Axiata.
Regional markets advanced on the back of the higher closing at Wall Street last Friday.
Japan's Nikkei 225 added 1.56% to 9,856.76, the South Korean Kospi up 1.01% to 1,692.32, Taiwan's TAIEX Index 0.84% to 7,360.67 and Singapore's Straits Times Index up 0.41% to 2,807.89. Meanwhile, Hong Kong's Hang Seng Index opened 1.2% higher at 20,102.55.
At 10am, the FBM KLCI was up 2.26 points to 1,296.93. Gainers led losers by 139 to 79, while 141 counters traded unchanged. Volume was 114.71 million shares valued at RM50.37 million.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi, however, in a note to clients on Monday said the local market had made a significant "Flat" and "Engulfing Bearish pattern" high at 1,349.92 in May.
He said that tactically, a minor low at 1,243.86 was seen after that but the tone for world markets and FBM
KLCI was not entirely steady just yet.
"We advise clients to sell and liquidate their shares as the longer-term outlook and trend for the FBM KLCI is down on the daily chart.
"We believe that the European sovereign debt crises will persist and problems there in Europe would come back to haunt investors in the longer run," he said.
Among the major gainers at mid-morning, CIMB, Maybank, TM and Axiata added two sen each to RM6.93, RM7.45, RM3.32 and RM3.87, respectively, while PPB added eight sen to RM16.04 and MAS up three sen to RM2.04.
Other gainers included Pharmaniaga, KFCH, Genting PLANTATION []s, Toyo Ink, Hartalega, Jetson and SP Setia.
Hong Leong Financial Group was the top loser and fell 11 sen to RM7.90, K-Star Sports down 10 sen to RM1.91 while GUINNESS ANCHOR BHD [] lost eight sen to RM7.25.
Other losers included Weida, Berjaya Median and Sunway City.
ADVANCE INFORMATION MARKETING [] Bhd was the most actively traded counter with 36.4 million shares done. The counter was unchanged at 17 sen.
Other actives included Talam, Kenmark, Saag, Berjaya Corp and Kumpulan Europlus.
Regional markets advanced on the back of the higher closing at Wall Street last Friday.
Japan's Nikkei 225 added 1.56% to 9,856.76, the South Korean Kospi up 1.01% to 1,692.32, Taiwan's TAIEX Index 0.84% to 7,360.67 and Singapore's Straits Times Index up 0.41% to 2,807.89. Meanwhile, Hong Kong's Hang Seng Index opened 1.2% higher at 20,102.55.
At 10am, the FBM KLCI was up 2.26 points to 1,296.93. Gainers led losers by 139 to 79, while 141 counters traded unchanged. Volume was 114.71 million shares valued at RM50.37 million.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi, however, in a note to clients on Monday said the local market had made a significant "Flat" and "Engulfing Bearish pattern" high at 1,349.92 in May.
He said that tactically, a minor low at 1,243.86 was seen after that but the tone for world markets and FBM
KLCI was not entirely steady just yet.
"We advise clients to sell and liquidate their shares as the longer-term outlook and trend for the FBM KLCI is down on the daily chart.
"We believe that the European sovereign debt crises will persist and problems there in Europe would come back to haunt investors in the longer run," he said.
Among the major gainers at mid-morning, CIMB, Maybank, TM and Axiata added two sen each to RM6.93, RM7.45, RM3.32 and RM3.87, respectively, while PPB added eight sen to RM16.04 and MAS up three sen to RM2.04.
Other gainers included Pharmaniaga, KFCH, Genting PLANTATION []s, Toyo Ink, Hartalega, Jetson and SP Setia.
Hong Leong Financial Group was the top loser and fell 11 sen to RM7.90, K-Star Sports down 10 sen to RM1.91 while GUINNESS ANCHOR BHD [] lost eight sen to RM7.25.
Other losers included Weida, Berjaya Median and Sunway City.
ADVANCE INFORMATION MARKETING [] Bhd was the most actively traded counter with 36.4 million shares done. The counter was unchanged at 17 sen.
Other actives included Talam, Kenmark, Saag, Berjaya Corp and Kumpulan Europlus.
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