KUALA LUMPUR: The FBM KLCI slipped into the red at the midday break on Tuesday, July 27 but managed to stay above the crucial 1,350 level.
The 30-stock index shed 0.56 of a point to 1,351.26, dragged by losses including at CIMB, Sime Darby and Genting.'' CIMB, which fell 16 sen to RM7.34, shaved more than 2.5 points off the FBM KLCI.
Gainers trailed losers by 235 to 339, while 282 counters traded unchanged. Volume was 374.25 million shares valued at RM562.79 million.
Crude palm oil for the third month delivery fell RM29 per tonne to RM2,444; crude oil shed four cents per barrel to US$78.94 while gold gained US$1.65 per ounce to US$1,185.20.
Nikkei 225 -0.04% 9,499.96 Shanghai Composite Index -0.35% 2,579.50 Taiex Index -0.41% 7,755.59 Singapore's Straits Times Index +0.51% 2,982.07 Kospi Index +0.17% 1,772.08 Hang Seng Index +0.04% 20,847.55 HLG Research in a note July 27 said the bulls were ready to go on a momentum driven ride as the FBM KLCI was envisaged to chalk out another new year-to-date high today, taking cue from a slew of positive external development.
"Since the FBM KLCI resuming its rally from a recent trough of 1243.7 on May 27 to reach a high of 1352.9 yesterday, the index has now recorded a cumulative increase of 107 points or 8.6% after rising in seven of the past eight weeks.
"From a technical perspective, it is vital for the FBM KLCI to hover above the 1,350 over the next few days. If this scenario holds, then the key market barometer is on course to surpass the next resistance target of 1,374 pts (50% FR from top 1,524 and low of 1,224)," said HLG Research. Major supports are 1,339 (10-d SMA), 1,323 (30-d SMA) and 1,311 (50-d SMA), it said.
At Bursa Malaysia, glove makers were among the major losers, with Top Glove down 22 sen to RM6.35, Hartalega down 10 sen to RM8.18 and Supermax fell nine sen to RM6.17.
Genting fell two sen to RM7.68, Hong Leong Financial Group down six sen to RM8.44, Sime Darby shed one sen to RM7.78, Stamford College fell 18.5 sen to 22.5 sen, Uzma down 12 sen to RM1.51 while LPI Capital lost eight sen to RM17.70.
The top gainer was Nestle, which added 26 sen to RM37.50; Guan Chong rose 23 sen to RM1.30, Cycle & Carriage up 22 sen to RM5.99, BAT 16 sen to RM43.76 and Cocoaland 13 sen to RM2.82.
Other gainers included KESM, Kulim, Notion Vtec and QSR Brands.
Berjaya Corp was the most actively traded counter with 15.8 million shares done. The stock fell one sen to RM1.02. The other actives included Kenmark, Time dotCom, Iris, Axiata and Scomi Marine.
The 30-stock index shed 0.56 of a point to 1,351.26, dragged by losses including at CIMB, Sime Darby and Genting.'' CIMB, which fell 16 sen to RM7.34, shaved more than 2.5 points off the FBM KLCI.
Gainers trailed losers by 235 to 339, while 282 counters traded unchanged. Volume was 374.25 million shares valued at RM562.79 million.
Crude palm oil for the third month delivery fell RM29 per tonne to RM2,444; crude oil shed four cents per barrel to US$78.94 while gold gained US$1.65 per ounce to US$1,185.20.
Nikkei 225 -0.04% 9,499.96 Shanghai Composite Index -0.35% 2,579.50 Taiex Index -0.41% 7,755.59 Singapore's Straits Times Index +0.51% 2,982.07 Kospi Index +0.17% 1,772.08 Hang Seng Index +0.04% 20,847.55 HLG Research in a note July 27 said the bulls were ready to go on a momentum driven ride as the FBM KLCI was envisaged to chalk out another new year-to-date high today, taking cue from a slew of positive external development.
"Since the FBM KLCI resuming its rally from a recent trough of 1243.7 on May 27 to reach a high of 1352.9 yesterday, the index has now recorded a cumulative increase of 107 points or 8.6% after rising in seven of the past eight weeks.
"From a technical perspective, it is vital for the FBM KLCI to hover above the 1,350 over the next few days. If this scenario holds, then the key market barometer is on course to surpass the next resistance target of 1,374 pts (50% FR from top 1,524 and low of 1,224)," said HLG Research. Major supports are 1,339 (10-d SMA), 1,323 (30-d SMA) and 1,311 (50-d SMA), it said.
At Bursa Malaysia, glove makers were among the major losers, with Top Glove down 22 sen to RM6.35, Hartalega down 10 sen to RM8.18 and Supermax fell nine sen to RM6.17.
Genting fell two sen to RM7.68, Hong Leong Financial Group down six sen to RM8.44, Sime Darby shed one sen to RM7.78, Stamford College fell 18.5 sen to 22.5 sen, Uzma down 12 sen to RM1.51 while LPI Capital lost eight sen to RM17.70.
The top gainer was Nestle, which added 26 sen to RM37.50; Guan Chong rose 23 sen to RM1.30, Cycle & Carriage up 22 sen to RM5.99, BAT 16 sen to RM43.76 and Cocoaland 13 sen to RM2.82.
Other gainers included KESM, Kulim, Notion Vtec and QSR Brands.
Berjaya Corp was the most actively traded counter with 15.8 million shares done. The stock fell one sen to RM1.02. The other actives included Kenmark, Time dotCom, Iris, Axiata and Scomi Marine.
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