KUALA LUMPUR: Stocks on Bursa Malaysia traded higher on Tuesday, July 20 on bargain hunting activities and rotational plays as investors began nibbling on stocks that had been battered over the past two weeks.
At Bursa Malaysia, the FBM KLCI rose 2.49 points to 1,335.84 at 10am, lifted by gains including at Tanjong, Genting and Public Bank.
Gainers led losers by 244 to 132, while 192 counters traded unchanged. Volume was 205.41 million shares valued at RM179.03 million.
At the regional markets, Japan's Nikkei 225 fell 1.2% to 9,295.14, Taiwan's Taiex Index and the South Korean Kospi Index shed 0.13% each to 7,640.25 and 1,729.62, respectively while the Hong Kong Hang Seng Index opened 0.1% lower at 20,075,72. The Shanghai Composite Index rose 0.37% to 2,484.37 and Singapore's Straits Times Index up 0.13% to 2,949.22.
RHB Research Institute Sdn Bhd said the FBM KLCI may still recover if buying momentum continues today, given the improved daily turnover to the healthy 800 million'one billion shares mark on Monday.
"Optimistically, we expect the rotational plays centred on lower liners to continue attracting the retail participation in the near term, hence potentially lifting the market sentiment a notch higher," it said.
The research house said that on the technical perspective, the FBM KLCI would remain short-term positive as long as it sustains at above the 10-day SMA.
A medium-term support is seen near the psychological level of 1,300, closer to the 40-day SMA of 1,306, it said.
"Having said that, the broader market sentiment will still be influenced by the key US and regional markets' performance in the near term, in our opinion," it said.
Education counters were among the gainers this morning, with HELP International adding 31 sen to RM4.36.
Meanwhile, SEG rose 16 sen to RM2.34, Nilai up 11 sen to 68 sen and Masterskill 10 sen to RM4.10.
Newly-listed EA Holdings Bhd surged 42 sen to 67 sen. It was also among the most actively traded stocks with 9.29 million shares done.
Other gainers this morning included Dutch Lady that added 14 sen to RM14.30, Kulim up 13 sen to RM7.83, Tanjong 12 sen to RM17.92, Genting 11 sen to RM7.64, Public Bank 4 sen to RM12.14 and Cycle & Carriage 10 sen to RM8.
Losers included Malayan Flour Mills, Krisassets, AKN, Kheesan, Apollo, Jetson, EON Capital and Pos Malaysia.
At Bursa Malaysia, the FBM KLCI rose 2.49 points to 1,335.84 at 10am, lifted by gains including at Tanjong, Genting and Public Bank.
Gainers led losers by 244 to 132, while 192 counters traded unchanged. Volume was 205.41 million shares valued at RM179.03 million.
At the regional markets, Japan's Nikkei 225 fell 1.2% to 9,295.14, Taiwan's Taiex Index and the South Korean Kospi Index shed 0.13% each to 7,640.25 and 1,729.62, respectively while the Hong Kong Hang Seng Index opened 0.1% lower at 20,075,72. The Shanghai Composite Index rose 0.37% to 2,484.37 and Singapore's Straits Times Index up 0.13% to 2,949.22.
RHB Research Institute Sdn Bhd said the FBM KLCI may still recover if buying momentum continues today, given the improved daily turnover to the healthy 800 million'one billion shares mark on Monday.
"Optimistically, we expect the rotational plays centred on lower liners to continue attracting the retail participation in the near term, hence potentially lifting the market sentiment a notch higher," it said.
The research house said that on the technical perspective, the FBM KLCI would remain short-term positive as long as it sustains at above the 10-day SMA.
A medium-term support is seen near the psychological level of 1,300, closer to the 40-day SMA of 1,306, it said.
"Having said that, the broader market sentiment will still be influenced by the key US and regional markets' performance in the near term, in our opinion," it said.
Education counters were among the gainers this morning, with HELP International adding 31 sen to RM4.36.
Meanwhile, SEG rose 16 sen to RM2.34, Nilai up 11 sen to 68 sen and Masterskill 10 sen to RM4.10.
Newly-listed EA Holdings Bhd surged 42 sen to 67 sen. It was also among the most actively traded stocks with 9.29 million shares done.
Other gainers this morning included Dutch Lady that added 14 sen to RM14.30, Kulim up 13 sen to RM7.83, Tanjong 12 sen to RM17.92, Genting 11 sen to RM7.64, Public Bank 4 sen to RM12.14 and Cycle & Carriage 10 sen to RM8.
Losers included Malayan Flour Mills, Krisassets, AKN, Kheesan, Apollo, Jetson, EON Capital and Pos Malaysia.
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