KUALA LUMPUR: The FBM KLCI stayed in positive territory at mid-morning on Tuesday, Oct 19, lifted by gains including at RHB Capital, Genting, Tenaga and PLUS.
At 10am, the 30-stock index was up 6.94 points to 1,487.64. Gainers led losers by 297 to 140, while 227 counters traded unchanged. Volume was 332.21 million shares valued at RM272.3 million.
RHB Research Institute Sdn Bhd said with more investors taking profit following the uninspired 2011 Budget announcement last Friday, coupled with the weakness in the regional markets, the FBM KLCI eased lower on follow-through profit-taking momentum on Monday.
It said that from the technical perspective, the closing to below the important 10-day Simple Moving Average (SMA) of 1,485 and the poorer momentum readings, were suggesting more downside potential for the FBM KLCI in the near term.
And if there is no immediate rebound to above the 10-day SMA today, the index could retrace towards the recent technical gap at 1,472.32-1,476.05, and even towards the key pivotal point of 1,450 next, it said.
"However, as reiterated earlier, the medium- to long-term technical outlook will remain positive if the index manages to sustain at above the 1,450 level and the 40-day SMA near 1,453.
"Therefore, in other for it to stay positive, the index must quickly reclaim the 10-day SMA, and to push over the 1,500 psychological level in the next few sessions to end the current profit-taking leg," it said in a note on Tuesday.
Among the major gainers on Bursa Malaysia, Fima Corp added 23 sen to RM5.35, Ewein and Batu Kawan rose 22 sen each to RM1 and RM15.80 respectively, Ho Hup was up 12 sen to 67.5 sen, RHB Capital rose 11 sen to RM7.85, Genting rose 10 sen to RM10.20, Tan Chong up nine sen to RM5.65, PLUS added four sen to RM4.38 while Masterskill, Tenaga and Supermax rose eight sen each to RM3.26, RM8.90 and RM4.59 respectively.
Among the decliners, Tahps fell 13 sen to RM4.45, F&N and HELP lost 10 sen each to RM14.30 and RM2,45, Naim down nine sen to RM3.44, SapuraCrest down 5.5 sen to 94 sen, Glenealy lost five sen to RM5.25 while UM Land and Delloyd fell four sen each to RM1.80 and RM3.15 respectively.
Karambunai was the most actively traded counter with 85.7 million shares done. The stock added 1.5 sen to RM24.5 sen. Other actives included Hubline, Timecom, Equine and PLUS.
At the regional markets, Japan's Nikkei 225 rose 0.53% to 9,548.93, Singapore's Straits Times Index added 0.24% to 3,189.00 and Hong Kong's Hang Seng Index opened 0.5% higher at 23,583.81.
Meanwhile, the Shanghai Composite Index shed 0.47% to 2,941.28, the South Korean Kospi lost 0.37% to 1,868.48 and Taiwan's Taiex was down 0.15% to 8,048.30.
At 10am, the 30-stock index was up 6.94 points to 1,487.64. Gainers led losers by 297 to 140, while 227 counters traded unchanged. Volume was 332.21 million shares valued at RM272.3 million.
RHB Research Institute Sdn Bhd said with more investors taking profit following the uninspired 2011 Budget announcement last Friday, coupled with the weakness in the regional markets, the FBM KLCI eased lower on follow-through profit-taking momentum on Monday.
It said that from the technical perspective, the closing to below the important 10-day Simple Moving Average (SMA) of 1,485 and the poorer momentum readings, were suggesting more downside potential for the FBM KLCI in the near term.
And if there is no immediate rebound to above the 10-day SMA today, the index could retrace towards the recent technical gap at 1,472.32-1,476.05, and even towards the key pivotal point of 1,450 next, it said.
"However, as reiterated earlier, the medium- to long-term technical outlook will remain positive if the index manages to sustain at above the 1,450 level and the 40-day SMA near 1,453.
"Therefore, in other for it to stay positive, the index must quickly reclaim the 10-day SMA, and to push over the 1,500 psychological level in the next few sessions to end the current profit-taking leg," it said in a note on Tuesday.
Among the major gainers on Bursa Malaysia, Fima Corp added 23 sen to RM5.35, Ewein and Batu Kawan rose 22 sen each to RM1 and RM15.80 respectively, Ho Hup was up 12 sen to 67.5 sen, RHB Capital rose 11 sen to RM7.85, Genting rose 10 sen to RM10.20, Tan Chong up nine sen to RM5.65, PLUS added four sen to RM4.38 while Masterskill, Tenaga and Supermax rose eight sen each to RM3.26, RM8.90 and RM4.59 respectively.
Among the decliners, Tahps fell 13 sen to RM4.45, F&N and HELP lost 10 sen each to RM14.30 and RM2,45, Naim down nine sen to RM3.44, SapuraCrest down 5.5 sen to 94 sen, Glenealy lost five sen to RM5.25 while UM Land and Delloyd fell four sen each to RM1.80 and RM3.15 respectively.
Karambunai was the most actively traded counter with 85.7 million shares done. The stock added 1.5 sen to RM24.5 sen. Other actives included Hubline, Timecom, Equine and PLUS.
At the regional markets, Japan's Nikkei 225 rose 0.53% to 9,548.93, Singapore's Straits Times Index added 0.24% to 3,189.00 and Hong Kong's Hang Seng Index opened 0.5% higher at 23,583.81.
Meanwhile, the Shanghai Composite Index shed 0.47% to 2,941.28, the South Korean Kospi lost 0.37% to 1,868.48 and Taiwan's Taiex was down 0.15% to 8,048.30.
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