KUALA LUMPUR: The FBM KLCI was up 1.14 points to 1,295.81 at 9.10am on Monday, June 14, in line with the higher opening at Asian markets and also lifted by gains at key blue chips.
Telekom Malaysia added five sen to RM3.35 while Axiata gained four sen to RM3.89.
Pharmaniaga was the top gainer in early trade and was up 42 sen to RM5.52 while Boustead Holdings added seven sen to RM3.65.
Boustead has launched a RM534 million acquisition of PHARMANIAGA BHD [] to buy an 86.81% stake from the UEM Group Bhd.
The move is seen as crucial for Boustead as it seeks to strengthen its pharmaceutical business. The offer price works out to RM5.75 per share or a 12% premium to its last traded price on Thursday of RM5.10.
Other gainers in early trade included Hong Leong Financial Group, KFCH, Tanjung Offshore, Jetson and Measat.
Among the losers, Public Bank and Genting fell two sen each to RM11.54 and RM7.02, while MAS and Sime lost one sen each to RM2 and RM7.79, respectively.
HwangDBS Vickers Research said investors would have to look harder for possible trading ideas as the broad market is expected to be sluggish ahead amid a dearth of fresh leads.
"From a technical perspective, we have set the immediate support and resistance levels for the benchmark FBM KLCI at 1,280 and 1,305, respectively.
"Wall Street ended slightly up on Friday with its major stock indices rising between 0.4% and 1.1% at the closing bell, lifted by a sense of optimism that the recovery momentum is still intact," it said in a note on Monday.
Asian equities also may react to the news that South Korea has announced foreign exchange controls to curb short-term foreign debt and volatile capital flows, it said.
Telekom Malaysia added five sen to RM3.35 while Axiata gained four sen to RM3.89.
Pharmaniaga was the top gainer in early trade and was up 42 sen to RM5.52 while Boustead Holdings added seven sen to RM3.65.
Boustead has launched a RM534 million acquisition of PHARMANIAGA BHD [] to buy an 86.81% stake from the UEM Group Bhd.
The move is seen as crucial for Boustead as it seeks to strengthen its pharmaceutical business. The offer price works out to RM5.75 per share or a 12% premium to its last traded price on Thursday of RM5.10.
Other gainers in early trade included Hong Leong Financial Group, KFCH, Tanjung Offshore, Jetson and Measat.
Among the losers, Public Bank and Genting fell two sen each to RM11.54 and RM7.02, while MAS and Sime lost one sen each to RM2 and RM7.79, respectively.
HwangDBS Vickers Research said investors would have to look harder for possible trading ideas as the broad market is expected to be sluggish ahead amid a dearth of fresh leads.
"From a technical perspective, we have set the immediate support and resistance levels for the benchmark FBM KLCI at 1,280 and 1,305, respectively.
"Wall Street ended slightly up on Friday with its major stock indices rising between 0.4% and 1.1% at the closing bell, lifted by a sense of optimism that the recovery momentum is still intact," it said in a note on Monday.
Asian equities also may react to the news that South Korea has announced foreign exchange controls to curb short-term foreign debt and volatile capital flows, it said.
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