KUALA LUMPUR: The FBM KLCI stayed in positive territory at mid-morning on Thursday, Oct 21 in line with the gains at key regional markets after the higher overnight close at Wall Street.
At 10am, the 30-stock index was up 8.49 points to 1,495.27, lifted by gains including at KL Kepong, Genting, Sime Darby and Petronas Gas.
Gainers beat losers by 325 to 115, while 247 counters traded unchanged. Volume was 341.20 million shares valued at RM283.03 million.
RHB Research Institute Sdn Bhd said despite the FBM KLCI failing to reclaim the 10-day SMA of 1,488 on Wednesday, it sees a good chance for further near-term recovery as the local and regional markets' performance appeared more resilient than expected.
The research house said it was also encouraged by the solid rotational plays on the lower liners and the selective sectors, which had kept the trading sentiment on an upbeat mode with robust participation in recent sessions.
"Therefore, in our opinion, further recovery to above the 10-day SMA today will attract further follow-through buying support in the near term.
"And once the recent high of 1,503.82 can be cleared, the short-term technical scenario will return to positive as the benchmark gears up to re-challenge the historical high at 1,524.69.
On the downside, the solid medium-term support at 1,450 level and the 40-day SMA of 1,458 are expected to keep sellers at bay, said RHB Research in a note on Thursday.
On Bursa Malaysia, KLK was the top gainer at mid-morning and was up 22 sen to RM19.22; Batu Kawan added 20 sen to RM15.70, Genting was up 16 sen to RM10.68, GAB and Sime Darby added 14 sen each to RM8.70 and RM8.99, Petronas Gas and Press Metal up 12 sen each to RM11.36 and RM1.79, while Kulim, Genting PLANTATION []s and AirAsia added 11 sen each to RM9.40, RM8.41 and RM2.69 respectively.
CHEMICAL COMPANY OF MALAYSIA [] was the top loser and fell five sen to RM2.01, Changhuat and Aliran Ihsan Resources fell four sen each to RM1.21 and RM1.70, Can-One, The Store, EPIC and SapuraCrest lost three sen each to RM1.08, RM2.42, RM2.06 and 96 sen respectively, while MAHB lost two sen to RM5.85.
Karambunai was the most actively traded stock with 47.11 million shares traded. The counter was unchanged at 23.5 sen. Other actives included Compugates, Berjaya Corp, Scomi and Carotech.
At the regional markets, Japan's Nikkei 225 was up 0.20% to 9,400.51, Taiwan's Taiex added 0.21% to 8,141.69, the Singapore Straits Times Index gained 0.19% to 3,185.31, the Shanghai Composite Index rose 0.14% to 3,008.06, the South Korean Kospi up 0.05% to 1,871.43 while Hong Kong's Hang Seng Index opened 0.6% higher at 23,691.44.
At 10am, the 30-stock index was up 8.49 points to 1,495.27, lifted by gains including at KL Kepong, Genting, Sime Darby and Petronas Gas.
Gainers beat losers by 325 to 115, while 247 counters traded unchanged. Volume was 341.20 million shares valued at RM283.03 million.
RHB Research Institute Sdn Bhd said despite the FBM KLCI failing to reclaim the 10-day SMA of 1,488 on Wednesday, it sees a good chance for further near-term recovery as the local and regional markets' performance appeared more resilient than expected.
The research house said it was also encouraged by the solid rotational plays on the lower liners and the selective sectors, which had kept the trading sentiment on an upbeat mode with robust participation in recent sessions.
"Therefore, in our opinion, further recovery to above the 10-day SMA today will attract further follow-through buying support in the near term.
"And once the recent high of 1,503.82 can be cleared, the short-term technical scenario will return to positive as the benchmark gears up to re-challenge the historical high at 1,524.69.
On the downside, the solid medium-term support at 1,450 level and the 40-day SMA of 1,458 are expected to keep sellers at bay, said RHB Research in a note on Thursday.
On Bursa Malaysia, KLK was the top gainer at mid-morning and was up 22 sen to RM19.22; Batu Kawan added 20 sen to RM15.70, Genting was up 16 sen to RM10.68, GAB and Sime Darby added 14 sen each to RM8.70 and RM8.99, Petronas Gas and Press Metal up 12 sen each to RM11.36 and RM1.79, while Kulim, Genting PLANTATION []s and AirAsia added 11 sen each to RM9.40, RM8.41 and RM2.69 respectively.
CHEMICAL COMPANY OF MALAYSIA [] was the top loser and fell five sen to RM2.01, Changhuat and Aliran Ihsan Resources fell four sen each to RM1.21 and RM1.70, Can-One, The Store, EPIC and SapuraCrest lost three sen each to RM1.08, RM2.42, RM2.06 and 96 sen respectively, while MAHB lost two sen to RM5.85.
Karambunai was the most actively traded stock with 47.11 million shares traded. The counter was unchanged at 23.5 sen. Other actives included Compugates, Berjaya Corp, Scomi and Carotech.
At the regional markets, Japan's Nikkei 225 was up 0.20% to 9,400.51, Taiwan's Taiex added 0.21% to 8,141.69, the Singapore Straits Times Index gained 0.19% to 3,185.31, the Shanghai Composite Index rose 0.14% to 3,008.06, the South Korean Kospi up 0.05% to 1,871.43 while Hong Kong's Hang Seng Index opened 0.6% higher at 23,691.44.
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