KUALA LUMPUR: Stocks on Bursa Malaysia managed to shrug off the lacklustre opening to advance on Monday morning, July 12.
It opened 0.26 point or 0.02% lower at 9.02 am but some buying interest in Nestle, LPI and PPB nudged the FBM KLCI higher. At 9.14 am, the FBM KLCI was up 2.63 points to 1,326.94 points.
Among top volume in early trade were Vastalux, Gamuda-WD, Kenmark and Scomi.
Early gainers are Nestle up RM1.40 to RM36.60, LPI up 20 sen to RM17.00, PPB up 16 sen to RM17.04 and Top Glove up 14 sen to RM13.94.
Key regional markets are higher, with Japan's Nikkei 225 up 45.11 points, or 0.47%, to 9,630.43 points and Singapore's Straits Times Index up 9.16 points, or 0.31%, to 2,926.33 points.
According to HwangDBS Vickers Research morning note, regional markets could experience positive sentiment influence today from Wall Street's favourable performance last Friday with key barometers advancing between 0.6% and 1.0%
"We reckon the positive vibes could spread into the Asian equity markets today, lifting investors' mood to continue buying into previously beaten down shares," said HwangDBS.
The US market was being driven by investors' optimism of a better earnings season, higher-than-consensus sales of some retailers and a decline in jobless claims, the research note added.
HwangDBS estimates that the benchmark FBM KLCI could continue its way upward, trading closer to its immediate resistance level of 1,340 points.
In terms of local news flow to note are that the International Monetary Fund has just upgraded Malaysia's 2010 gross domestic product growth to 6.7% from 4.7%. Meanwhile, PLANTATION [] statistics (exports, production, inventory, etc) for June 2010 will be out later on Monday, said the research house.
It opened 0.26 point or 0.02% lower at 9.02 am but some buying interest in Nestle, LPI and PPB nudged the FBM KLCI higher. At 9.14 am, the FBM KLCI was up 2.63 points to 1,326.94 points.
Among top volume in early trade were Vastalux, Gamuda-WD, Kenmark and Scomi.
Early gainers are Nestle up RM1.40 to RM36.60, LPI up 20 sen to RM17.00, PPB up 16 sen to RM17.04 and Top Glove up 14 sen to RM13.94.
Key regional markets are higher, with Japan's Nikkei 225 up 45.11 points, or 0.47%, to 9,630.43 points and Singapore's Straits Times Index up 9.16 points, or 0.31%, to 2,926.33 points.
According to HwangDBS Vickers Research morning note, regional markets could experience positive sentiment influence today from Wall Street's favourable performance last Friday with key barometers advancing between 0.6% and 1.0%
"We reckon the positive vibes could spread into the Asian equity markets today, lifting investors' mood to continue buying into previously beaten down shares," said HwangDBS.
The US market was being driven by investors' optimism of a better earnings season, higher-than-consensus sales of some retailers and a decline in jobless claims, the research note added.
HwangDBS estimates that the benchmark FBM KLCI could continue its way upward, trading closer to its immediate resistance level of 1,340 points.
In terms of local news flow to note are that the International Monetary Fund has just upgraded Malaysia's 2010 gross domestic product growth to 6.7% from 4.7%. Meanwhile, PLANTATION [] statistics (exports, production, inventory, etc) for June 2010 will be out later on Monday, said the research house.
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