KUALA LUMPUR: The FBM KLCI stayed above the 1,360-point level at mid-morning on Monday, Aug 2, lifted by gains at key blue chips including Tanjong, CIMB, Public Bank, RHB Capital and IOI Corp.
At 10am, the index was up 4.41 points to 1,365.33. Gainers led losers by 300 to 127, while 171 counters traded unchanged. Volume was 201.24 million shares valued at RM211.15 million.
At the regional markets, Japan's Nikkei 225 was up 1.24% to 9,655.79, the South Korean Kospi Index up 1.26% to 1,781.49, Taiwan's Taiex Index up 1.48% to 7,875.10, Singapore's Straits Times Index 0.91% to 3,014.96 and the Shanghai Composite Index up 0.37% to 2,647.24.
Meanwhile, Hong Kong's Hang Seng Index opened 1.1% higher at 21,268.71.
RHB Research Institute Sdn Bhd said the FBM KLCI's current run-up appeared more resilient than expected in the wake of broad-based selldown in the overseas markets late last week.
It said given the strong rotational plays on blue chips and lower liners, the research house continues to stay bullish on the market direction for short-, medium- and long-term period.
The research also said the constant profit-taking pressure was well absorbed in recent sessions, as what it had expected earlier, should the index sustain at above the 1,350 resistance-turn-support level.
'This has strongly portrayed the strength on the current upswing, and suggested more upside potential on the back of growing buying support.
'And as long as the daily turnover remains firm at between 800m and 1.0bn shares mark, and the market goes without any external negative shock, we believe the FBM KLCI will rechallenge the next upside target at 1,390 soon, it said.
For a support, the solid resistance-turn-support level at 1,350 will cap any surprise downside potential, it said.
Among the major gainers on Bursa Malaysia, Tanjong jumped RM3.58 to RM21.16, CIMB rose seven sen to RM7.47, Public Bank and RHB Capital added four sen each to RM12.20 and RM6.53, while IOI Corp gained one sen to RM5.13.
Nestle was up 70 sen to RM39.50, KFCH 20 sen to RM11, APM Automotive 17 sen to RM4.80, Aeon 15 sen to RM5.25 while Shell rose 14 sen to RM10.80.
DFZ Capital was the top loser at mid-morning and fell 28 sen to RM3.34; Lay Hong and Hong Leong Bank fell 13 sen each to RM1.03 and RM8.88, Nylex down eight sen to 85 sen while Hai-O fell seven sen to RM3.57.
Sinotop was the most actively traded stock with 14.1 million shares done. The counter added 2.5 sen to 26.5 sen. Other actives included Jadi, E&O, Malton, P&O, Ivory PROPERTIES [] and KNM.
At 10am, the index was up 4.41 points to 1,365.33. Gainers led losers by 300 to 127, while 171 counters traded unchanged. Volume was 201.24 million shares valued at RM211.15 million.
At the regional markets, Japan's Nikkei 225 was up 1.24% to 9,655.79, the South Korean Kospi Index up 1.26% to 1,781.49, Taiwan's Taiex Index up 1.48% to 7,875.10, Singapore's Straits Times Index 0.91% to 3,014.96 and the Shanghai Composite Index up 0.37% to 2,647.24.
Meanwhile, Hong Kong's Hang Seng Index opened 1.1% higher at 21,268.71.
RHB Research Institute Sdn Bhd said the FBM KLCI's current run-up appeared more resilient than expected in the wake of broad-based selldown in the overseas markets late last week.
It said given the strong rotational plays on blue chips and lower liners, the research house continues to stay bullish on the market direction for short-, medium- and long-term period.
The research also said the constant profit-taking pressure was well absorbed in recent sessions, as what it had expected earlier, should the index sustain at above the 1,350 resistance-turn-support level.
'This has strongly portrayed the strength on the current upswing, and suggested more upside potential on the back of growing buying support.
'And as long as the daily turnover remains firm at between 800m and 1.0bn shares mark, and the market goes without any external negative shock, we believe the FBM KLCI will rechallenge the next upside target at 1,390 soon, it said.
For a support, the solid resistance-turn-support level at 1,350 will cap any surprise downside potential, it said.
Among the major gainers on Bursa Malaysia, Tanjong jumped RM3.58 to RM21.16, CIMB rose seven sen to RM7.47, Public Bank and RHB Capital added four sen each to RM12.20 and RM6.53, while IOI Corp gained one sen to RM5.13.
Nestle was up 70 sen to RM39.50, KFCH 20 sen to RM11, APM Automotive 17 sen to RM4.80, Aeon 15 sen to RM5.25 while Shell rose 14 sen to RM10.80.
DFZ Capital was the top loser at mid-morning and fell 28 sen to RM3.34; Lay Hong and Hong Leong Bank fell 13 sen each to RM1.03 and RM8.88, Nylex down eight sen to 85 sen while Hai-O fell seven sen to RM3.57.
Sinotop was the most actively traded stock with 14.1 million shares done. The counter added 2.5 sen to 26.5 sen. Other actives included Jadi, E&O, Malton, P&O, Ivory PROPERTIES [] and KNM.
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