KUALA LUMPUR: The FBM KLCI continued to advance on Monday, Nov 1, in line with gains at key regional markets as well as higher closing at Wall Street last Friday, where the Dow Jones Industrial Average sustained above the 11,000 mark.
At mid-day, the KLCI rose 1.74 points to 1,507.40 riding on gains by CIMB, Genting, Public Bank, DiGi and Sime Darby. However, it was off its early high after climbing to 1,511.
Losers led gainers 374 to 327 while 257 counters traded unchanged. Volume was 612.82 million shares valued at RM613.21 million.
The ringgit strengthened to 3.097 per US dollar; while crude palm oil futures for December delivery rose RM10 to RM3,060 per tonne.
Hang Seng Index +1.94% 23,543.60 Taiwan's Taiex +1.10% 8,378.35 Singapore's Straits Times Index +1.46% 3,188.47 Nikkei 225 -0.18% 9,185.90 Kospi +1.32% 1,907.84 Shanghai Composite Index +1.90% 3,035.54 ''
Spot gold added US$1.15 an ounce to US$1,360.55 as investors expected more declines in the dollar ahead of a US Federal Reserve's policy meeting to shore up the economy, while silver and palladium hit multi-year peaks.
Reuters said chart-based buying also picked up after bullion surpassed a key resistance of US$1,350 an ounce on Friday, lifting silver to a 30-year high and palladium to its strongest in nine years. Gold hit a record around $1,387 in mid-October.
China's factories ramped up their production last month and were buoyed by an influx of new business, highlighting the strength of the world's second-largest economy but also pointing to price pressures.
At Bursa Malaysia, CIMB rose seven sen to RM8.36 and Genting six sen to RM10.50 while other movers such as Public Bank added four sen to RM12.76. However, Axiata dipped two sen to RM4.47, MISC six sen to RM8.72 and Maxis three sen to RM5.26.
Among the gainers, BAT jumped 42-sen to RM46.94, Kulim surged 38-sen to RM10.08, Petra-WA added 30 sen to 30.5 sen, Dutch Lady grew 30-sen to RM18.22 while DiGi climbed 24-sen to RM25.58.
Carotech was the most actively traded stock at midday with 33.16 million shares done followed by Ho Wah Genting with turnover at 26.08 million units.
MMHE eased one sen to RM4.50, off the early high of RM4.60. The institutional offer price was RM3.80 and retail price RM3.61.
RHB Research Institute said the FBM KLCI still needed to acquire a 'positive confirmation candle' to secure more upside in the near term, adding it must sustain at above the 1,500 level to maintain trading sentiment.
'The immediate resistance is at the 1,524.69 all-time high level. If it can remove this level, it will propel further on stronger follow-through support towards our medium-term Fibonacci Projection target at 1,668, which is also the 1.618 times of the upswing from 836 in March 2009 to 1,350 in May 2010,' it said in its technical research on Nov 1.
However, the research house said considering the global markets uncertainties ahead of the outcome of the Federal Open Market Committee (FOMC) meeting and the US mid-term election as well as the local by-elections in Galas and Batu Sapi, market sentiment in their view was expected to stay volatile.
RHB Research Institute said investors should stay cautious pending more clearance from the current events before placing their investment bets.
At mid-day, the KLCI rose 1.74 points to 1,507.40 riding on gains by CIMB, Genting, Public Bank, DiGi and Sime Darby. However, it was off its early high after climbing to 1,511.
Losers led gainers 374 to 327 while 257 counters traded unchanged. Volume was 612.82 million shares valued at RM613.21 million.
The ringgit strengthened to 3.097 per US dollar; while crude palm oil futures for December delivery rose RM10 to RM3,060 per tonne.
Hang Seng Index +1.94% 23,543.60 Taiwan's Taiex +1.10% 8,378.35 Singapore's Straits Times Index +1.46% 3,188.47 Nikkei 225 -0.18% 9,185.90 Kospi +1.32% 1,907.84 Shanghai Composite Index +1.90% 3,035.54 ''
Spot gold added US$1.15 an ounce to US$1,360.55 as investors expected more declines in the dollar ahead of a US Federal Reserve's policy meeting to shore up the economy, while silver and palladium hit multi-year peaks.
Reuters said chart-based buying also picked up after bullion surpassed a key resistance of US$1,350 an ounce on Friday, lifting silver to a 30-year high and palladium to its strongest in nine years. Gold hit a record around $1,387 in mid-October.
China's factories ramped up their production last month and were buoyed by an influx of new business, highlighting the strength of the world's second-largest economy but also pointing to price pressures.
At Bursa Malaysia, CIMB rose seven sen to RM8.36 and Genting six sen to RM10.50 while other movers such as Public Bank added four sen to RM12.76. However, Axiata dipped two sen to RM4.47, MISC six sen to RM8.72 and Maxis three sen to RM5.26.
Among the gainers, BAT jumped 42-sen to RM46.94, Kulim surged 38-sen to RM10.08, Petra-WA added 30 sen to 30.5 sen, Dutch Lady grew 30-sen to RM18.22 while DiGi climbed 24-sen to RM25.58.
Carotech was the most actively traded stock at midday with 33.16 million shares done followed by Ho Wah Genting with turnover at 26.08 million units.
MMHE eased one sen to RM4.50, off the early high of RM4.60. The institutional offer price was RM3.80 and retail price RM3.61.
RHB Research Institute said the FBM KLCI still needed to acquire a 'positive confirmation candle' to secure more upside in the near term, adding it must sustain at above the 1,500 level to maintain trading sentiment.
'The immediate resistance is at the 1,524.69 all-time high level. If it can remove this level, it will propel further on stronger follow-through support towards our medium-term Fibonacci Projection target at 1,668, which is also the 1.618 times of the upswing from 836 in March 2009 to 1,350 in May 2010,' it said in its technical research on Nov 1.
However, the research house said considering the global markets uncertainties ahead of the outcome of the Federal Open Market Committee (FOMC) meeting and the US mid-term election as well as the local by-elections in Galas and Batu Sapi, market sentiment in their view was expected to stay volatile.
RHB Research Institute said investors should stay cautious pending more clearance from the current events before placing their investment bets.
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