KUALA LUMPUR: The FBM KLCI rebounded on Friday, Nov 19 in line with the overnight gains at Wall Street and the generally positive sentiment at the regional markets.
At mid-morning, the 30-stock index was up 6.76 points to 1,503.41. Gainers outpaced losers by 362 to 88, while 193 counters traded unchanged. Volume was 253.92 million shares valued at RM233.14 million.
RHB Research Institute Sdn Bhd said that the FBM KLCI's recovery yesterday had managed to sustain the index at above the 40-day Simple Moving Average (SMA) of 1,490.
This means another chance for it to stage a technical rebound from the recent selldown today, it said.
'However, given the slight downward tick on the 10-day SMA near 1,511 and the poor state of the short-term momentum readings, trading activities are likely to stay under pressure.
'Although the overnight rally in US markets may lift buying instinct slightly, the possibility of more tightening measures ahead in China may dampen appetite, investors are more likely to apply the 'wait-and-see' strategy before jumping back onto the bandwagon, in our view,' it said in a note Nov 19.
The research house expects range-bound trading today as the FBM KLCI fluctuates between the two SMAs (1,490 ' 1,511), with most investors staying sideline ahead of the weekend.
On Bursa Malaysia, QSR Brands and KFCH were among the top gainers before the counters requested for trading halt from 9.30am pending a material announcement. QSR was up 29 sen to RM5.76 while KFCH added 28 sen to RM4.25.
Among the other gainers, Nestle rose 28 sen to RM43.48, Genting was up 20 sen to RM10.24, Warisan up 17 sen to RM2.62, Hong Leong Industries gained 16 sen to RM5.76, Batu Kawan up 14 sen to RM15.74 while Kulim, which also requested for a trading halt of its shares from 9.30am, was up 16 sen to RM13.54 prior to its suspension.
Among the decliners, Kawan Food fell six sen to RM1.42, Daibochi down five sen to RM2.73, while NPC, Narra, Petronas Dagangan, LBI Capital and Masterskill fell four sen each to RM2.16, 63.5 sen, RM11.16, 69 sen and RM2.21 respectively.
KNM, which has landed a US$216 million job in Uzbekistan, was the most actively traded counter with 19.2 million shares done. The stock added 1.5 sen to 45 sen. Other actives included Jotech, Salcon, Tejari, Ho Wah Genting and Karambunai.
At the regional markets, Japan's Nikkei 225 was up 0.61% to 10,074.55, Taiwan's Taiex was up 0.89% to 8,356.81, the South Korean Kospi added 0.27% to 1,933.04, while Singapore's Straits Times Index and the Shanghai Composite Index shed 0.02% each to 3,214.45 and 2,864.91, and Hong Kong's Hang Seng Index opened 0.1% lower at 23,612.24.
At mid-morning, the 30-stock index was up 6.76 points to 1,503.41. Gainers outpaced losers by 362 to 88, while 193 counters traded unchanged. Volume was 253.92 million shares valued at RM233.14 million.
RHB Research Institute Sdn Bhd said that the FBM KLCI's recovery yesterday had managed to sustain the index at above the 40-day Simple Moving Average (SMA) of 1,490.
This means another chance for it to stage a technical rebound from the recent selldown today, it said.
'However, given the slight downward tick on the 10-day SMA near 1,511 and the poor state of the short-term momentum readings, trading activities are likely to stay under pressure.
'Although the overnight rally in US markets may lift buying instinct slightly, the possibility of more tightening measures ahead in China may dampen appetite, investors are more likely to apply the 'wait-and-see' strategy before jumping back onto the bandwagon, in our view,' it said in a note Nov 19.
The research house expects range-bound trading today as the FBM KLCI fluctuates between the two SMAs (1,490 ' 1,511), with most investors staying sideline ahead of the weekend.
On Bursa Malaysia, QSR Brands and KFCH were among the top gainers before the counters requested for trading halt from 9.30am pending a material announcement. QSR was up 29 sen to RM5.76 while KFCH added 28 sen to RM4.25.
Among the other gainers, Nestle rose 28 sen to RM43.48, Genting was up 20 sen to RM10.24, Warisan up 17 sen to RM2.62, Hong Leong Industries gained 16 sen to RM5.76, Batu Kawan up 14 sen to RM15.74 while Kulim, which also requested for a trading halt of its shares from 9.30am, was up 16 sen to RM13.54 prior to its suspension.
Among the decliners, Kawan Food fell six sen to RM1.42, Daibochi down five sen to RM2.73, while NPC, Narra, Petronas Dagangan, LBI Capital and Masterskill fell four sen each to RM2.16, 63.5 sen, RM11.16, 69 sen and RM2.21 respectively.
KNM, which has landed a US$216 million job in Uzbekistan, was the most actively traded counter with 19.2 million shares done. The stock added 1.5 sen to 45 sen. Other actives included Jotech, Salcon, Tejari, Ho Wah Genting and Karambunai.
At the regional markets, Japan's Nikkei 225 was up 0.61% to 10,074.55, Taiwan's Taiex was up 0.89% to 8,356.81, the South Korean Kospi added 0.27% to 1,933.04, while Singapore's Straits Times Index and the Shanghai Composite Index shed 0.02% each to 3,214.45 and 2,864.91, and Hong Kong's Hang Seng Index opened 0.1% lower at 23,612.24.
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