Tuesday, June 8, 2010

FBM KLCI up slightly in early trade

KUALA LUMPUR: The FBM KLCI made a feeble recovery in early trade Tuesday, June 8 after having opened in the red following the overnight fall at Wall Street and generally weak investor sentiment across the region.

US stocks fell on Monday, taking the S&P 500 to its lowest close in seven months, as industrials and TECHNOLOGY [] shares fell and investors stayed on their heels after last week's payrolls figure discouraged buyers, according to Reuters.

The Dow Jones industrial average fell 115.48 points, or 1.16%, to 9,816.49. The Standard & Poor's 500 Index slid 14.41 points, or 1.35%, to 1,050.47. The Nasdaq Composite Index tumbled 45.27 points, or 2.04%, to 2,173.90.

RHB Research Institute Sdn Bhd said in a note Tuesday that the market was still overwhelmed by the poor trading sentiment from the recent fallout.

"Given further weakness on the short-term momentum indicators, the index's trading direction is expected to stay negative," it said.

At 9.10am, the FBM KLCI rose 0.59 of a point to 1,286.86. Losers led gainers by 65 to 39, while 50 counters traded unchanged.

Among the gainers, BAT added 10 sen to RM44.30, AMMB up five sen to RM4.95, YTL Corp and Sunrise up four sen each to RM7.33 and RM1.92, KPJ up three sen to RM3 while MISC added two sen to RM8.42.

Among losers, EON Capital fell 15 sen to RM7.05, Affin and PPB down six sen to RM2.93 and RM15.72 while Berjaya Corp fell four sen to RM1.42.

No comments:

Post a Comment