KUALA LUMPUR: The FBM KLCI slipped into negative territory by mid-morning on Monday, Oct 18 after the initial euphoria over some of the measures in Budget 2011 eased off, while analysts said market reaction would be muted to the announcements as much of the proposals had already been factored in earlier.
At 10am, the 30-stock index was down 1.06 points to 1,488.80, with losses including at PLUS and Maybank.
Losers led gainers by 244 to 177, while 236 counters traded unchanged. Volume was 324.52 million shares valued at RM239.63 million.
Inter-Pacific Research Sdn Bhd head of research Anthony Dass said there would not be any major impact on the equity market apart from a brief positive knee jerk reaction.
"Much still lingers on issues on CONSTRUCTION []/infrastructure projects, while on consumer spending it will continue to focus on their real disposable income.
"On the flip side, a swift reversal to the market cannot be ruled out should household confidence improve further, coupled with strong execution, which could then lead to a positive re-rating to equity market," he said in a note on Monday.
At mid-morning, among the major decliners were S P Setia and Bursa Malaysia which fell 10 sen each to RM4.78 and RM8.50 respectively, Malaysia Smelting Corp down nine sen to RM5.02, Maybank lost eight sen to RM8.80 while Hong Leong Industries, Lion Forest Industries, Sarawak PLANTATION []s and YTL Cement lost seven sen each to RM5.10, RM1.90, RM2.23 and RM4.52 respectively. Meanwhile, PLUS fell two sen to RM4.44.
Among the gainers, Batu Kawan added RM1.06 to RM15.80, Tahps rose 48 sen to RM4.98, Nestle was up 40 sen RM44.70, BLD Plantations added 26 sen to RM4.92, APM Aautomotive rose 15 sen to RM5, HELP gained 12 sen to RM2.53, BHIC up 11 sen to RM4.65 while United Malacca was up 10 sen to RM11.30.
Karambunai was the most actively traded counter with 144.1 million shares done. The stock advanced 2.5 sen to 20.5 sen. Other actives included Main Market debutant GW Plastics, PLU, Malton and SunREIT.
Regional markets were mixed this morning. The Shanghai Composite Index advanced 1.27% to 3,009.04, Japan's Nikkei 225 was up 0.50% to 9,547.66, Singapore's Straits Times Index gained 0.34% to 3,215.19, while Taiwan's Taiex fell 1.01%to 8,122.80, South Korea's Kospi down 0.37% to 1,895.29 and Hong Kong's Hang Seng Index opened 0.2% lower at 23,716.48.
At 10am, the 30-stock index was down 1.06 points to 1,488.80, with losses including at PLUS and Maybank.
Losers led gainers by 244 to 177, while 236 counters traded unchanged. Volume was 324.52 million shares valued at RM239.63 million.
Inter-Pacific Research Sdn Bhd head of research Anthony Dass said there would not be any major impact on the equity market apart from a brief positive knee jerk reaction.
"Much still lingers on issues on CONSTRUCTION []/infrastructure projects, while on consumer spending it will continue to focus on their real disposable income.
"On the flip side, a swift reversal to the market cannot be ruled out should household confidence improve further, coupled with strong execution, which could then lead to a positive re-rating to equity market," he said in a note on Monday.
At mid-morning, among the major decliners were S P Setia and Bursa Malaysia which fell 10 sen each to RM4.78 and RM8.50 respectively, Malaysia Smelting Corp down nine sen to RM5.02, Maybank lost eight sen to RM8.80 while Hong Leong Industries, Lion Forest Industries, Sarawak PLANTATION []s and YTL Cement lost seven sen each to RM5.10, RM1.90, RM2.23 and RM4.52 respectively. Meanwhile, PLUS fell two sen to RM4.44.
Among the gainers, Batu Kawan added RM1.06 to RM15.80, Tahps rose 48 sen to RM4.98, Nestle was up 40 sen RM44.70, BLD Plantations added 26 sen to RM4.92, APM Aautomotive rose 15 sen to RM5, HELP gained 12 sen to RM2.53, BHIC up 11 sen to RM4.65 while United Malacca was up 10 sen to RM11.30.
Karambunai was the most actively traded counter with 144.1 million shares done. The stock advanced 2.5 sen to 20.5 sen. Other actives included Main Market debutant GW Plastics, PLU, Malton and SunREIT.
Regional markets were mixed this morning. The Shanghai Composite Index advanced 1.27% to 3,009.04, Japan's Nikkei 225 was up 0.50% to 9,547.66, Singapore's Straits Times Index gained 0.34% to 3,215.19, while Taiwan's Taiex fell 1.01%to 8,122.80, South Korea's Kospi down 0.37% to 1,895.29 and Hong Kong's Hang Seng Index opened 0.2% lower at 23,716.48.
No comments:
Post a Comment