KUALA LUMPUR: Blue chips eked out marginal gains on Tuesday, July 26 but the FBM KLCI managed to close above the crucial 1,350 level, which was the highest since February 2008.
The 30-stock index trading in a tight range as the broader market showing signs of rising profit taking.'' The KLCI eked out a 0.41 of a point gain to end the day at 1,352.23. Turnover was 731 million shares valued at RM1.33 billion.
Among Southeast Asian markets, Thailand's benchmark SET index rose 1.6 percent to 853.68. It climbed at one point to the highest since May 27, 2008, in strong market volume of over US$1.30 billion.
On the technical charts, Reuters said the Thai index was seen overbought as it extended a rally into a fourth day. The SET index's 14-day relative strength index (RSI) was at 77.12 at the close on Tuesday. Others were below 70. An RSI level of 70 and higher indicates the market is overbought.
Singapore closed 0.4 percent higher, hovering at 3-month highs and Indonesia rose 0.6 percent, coming off a fresh all-time high hitting on Monday.'' The Philippines gained 0.7 percent, led by Manila Electric and Metro Pacific which each rose more than 5 percent. Vietnam was down 0.09 percent, extending losses for a second straight session.
In Jakarta, investors continued piling into big capitalised, pushing dominant car seller Astra International 1.4 percent higher and earlier touching a record 51,050 rupiah, thanks to its strong car sales in June and strong outlook.
PT Telekomunikasi Indonesia, the country's state telecoms firm, climbed 1.9 percent on expectations of good quarterly results.'' Indonesia's gains for the year rose to 20 percent, Southeast Asia's best performer, ahead of a 16.2 percent rise in Thai stocks, the second best.
At Bursa Malaysia, Nestle jumped RM1.36 to RM38.60 on rotational play of food and beverage counters. Cocoaland added 21 sen to RM2.90, BAT 18 sen to RM43.78.
Measat rose 31 sen to RM3.80 on market speculation of more corporate announcements while CCB managed to break out of its recent downtrend to add 31 sen to RM6.08.
Among the index-linked stocks, Axiata gained three sen to RM4.14, IOI Corp two sen to RM5.12 and Maybank one sen to RM7.71.
Top Glove fell 21 sen to RM6.54 as some research houses said the share price was overbought while Stamford College lost 15.5 sen to 25.5 sen after it revamp plan was rejected by Bursa. Monday's top performer CIMB eased 10 sen to RM7.40.
The 30-stock index trading in a tight range as the broader market showing signs of rising profit taking.'' The KLCI eked out a 0.41 of a point gain to end the day at 1,352.23. Turnover was 731 million shares valued at RM1.33 billion.
Among Southeast Asian markets, Thailand's benchmark SET index rose 1.6 percent to 853.68. It climbed at one point to the highest since May 27, 2008, in strong market volume of over US$1.30 billion.
On the technical charts, Reuters said the Thai index was seen overbought as it extended a rally into a fourth day. The SET index's 14-day relative strength index (RSI) was at 77.12 at the close on Tuesday. Others were below 70. An RSI level of 70 and higher indicates the market is overbought.
Singapore closed 0.4 percent higher, hovering at 3-month highs and Indonesia rose 0.6 percent, coming off a fresh all-time high hitting on Monday.'' The Philippines gained 0.7 percent, led by Manila Electric and Metro Pacific which each rose more than 5 percent. Vietnam was down 0.09 percent, extending losses for a second straight session.
In Jakarta, investors continued piling into big capitalised, pushing dominant car seller Astra International 1.4 percent higher and earlier touching a record 51,050 rupiah, thanks to its strong car sales in June and strong outlook.
PT Telekomunikasi Indonesia, the country's state telecoms firm, climbed 1.9 percent on expectations of good quarterly results.'' Indonesia's gains for the year rose to 20 percent, Southeast Asia's best performer, ahead of a 16.2 percent rise in Thai stocks, the second best.
At Bursa Malaysia, Nestle jumped RM1.36 to RM38.60 on rotational play of food and beverage counters. Cocoaland added 21 sen to RM2.90, BAT 18 sen to RM43.78.
Measat rose 31 sen to RM3.80 on market speculation of more corporate announcements while CCB managed to break out of its recent downtrend to add 31 sen to RM6.08.
Among the index-linked stocks, Axiata gained three sen to RM4.14, IOI Corp two sen to RM5.12 and Maybank one sen to RM7.71.
Top Glove fell 21 sen to RM6.54 as some research houses said the share price was overbought while Stamford College lost 15.5 sen to 25.5 sen after it revamp plan was rejected by Bursa. Monday's top performer CIMB eased 10 sen to RM7.40.
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