KUALA LUMPUR: The FBM KLCI slipped into the red at mid-morning on Friday, Dec 24 in line with the mostly negative key regional markets as investors took a breather and stayed on the sidelines after having taken profits from the recent rallies.
The downtrend at the regional markets was also in line with the slightly weaker close at Wall Street and European markets.
At 10am, the FBM KLCI was down 0.99 point to 1,513.49, weighed by losses including at Genting, PPB, AMMB, Gamuda and Maxis.
Gainers trailed losers by 169 to 199, while 220 counters traded unchanged. Volume was 239.69 million shares valued at RM177.04 million.
At the regional markets, Japan's Nikkei 225 fell 0.71% to 10,272.96, the Shanghai Composite Index lost 0.42% to 2,843.28, Taiwan's Taiex fell 0.13% to 8,887.67, South Korea's Kospi shed 0.10% to 2,035.42 and Hong Kong's Hang Seng Index opened little changed at 22.9231.13.
Meanwhile, Singapore's Straits Times Index was up 0.26% to 3,146.06.
OSK Research in a note Dec 24 said the local market closed marginally lower yesterday but still ended the day above the 1,510 point-level.
The research house said it had been using this level to determine if the FBM KLCI could continue to add more points beyond the recent trading range, adding that yesterday was only the third session during which the index ended above the 1,510 point-level since Nov 12, 2010.
'We still need another strong push to the upside to confirm the breakout of the 1,510 point-level, especially after the index experienced a failed breakout attempt on Dec 9, 2010.
'Another failed breakout attempt at the 1,510 point-level would also see the index continue to trade within the recent trading band ranging from 1,474 pts to 1,510 points,' it said.
OSK Research said the nearly 20-point gain recorded on Tuesday and Wednesday had improved the market's near-term technical landscape, but the violation of the 1,510 point-level still needs to be confirmed.
'The FBM KLCI's historic high of 1,532 points is now the only resistance which we can detect. To the downside, the 1,510 point-level is still the immediate support while another support is seen at the 1,485- 1,492-point area,' it said.
On Bursa Malaysia, Nestle was the top loser at mid-morning and fell 20 sen to RM43.60; Hap Seng fell 10 sen to RM18 sen to RM6.08, APM down nine sen to RM5.55, Genting and PPB fell eight sen each to RM10.80 and RM16.80, AMMB down nine sen to RM6.95, Maxis lost four sen to RM5.31, Gamuda down three sen to RM3.83 while Kencana lost seven sen to RM2.31.
Among the gainers were Batu Kawan, Bernas, F&N, KLK and HELP.
Adventa continued to attract investor interest and was actively traded this morning on market talk that it could be a potential acquisition target by a healthcare firm based in the US.
The stock rose 19 sen to RM2.83 with 3.87 million shares done.
Other actives included JCY, Tejari, IRCB and Unisem warrants.
The downtrend at the regional markets was also in line with the slightly weaker close at Wall Street and European markets.
At 10am, the FBM KLCI was down 0.99 point to 1,513.49, weighed by losses including at Genting, PPB, AMMB, Gamuda and Maxis.
Gainers trailed losers by 169 to 199, while 220 counters traded unchanged. Volume was 239.69 million shares valued at RM177.04 million.
At the regional markets, Japan's Nikkei 225 fell 0.71% to 10,272.96, the Shanghai Composite Index lost 0.42% to 2,843.28, Taiwan's Taiex fell 0.13% to 8,887.67, South Korea's Kospi shed 0.10% to 2,035.42 and Hong Kong's Hang Seng Index opened little changed at 22.9231.13.
Meanwhile, Singapore's Straits Times Index was up 0.26% to 3,146.06.
OSK Research in a note Dec 24 said the local market closed marginally lower yesterday but still ended the day above the 1,510 point-level.
The research house said it had been using this level to determine if the FBM KLCI could continue to add more points beyond the recent trading range, adding that yesterday was only the third session during which the index ended above the 1,510 point-level since Nov 12, 2010.
'We still need another strong push to the upside to confirm the breakout of the 1,510 point-level, especially after the index experienced a failed breakout attempt on Dec 9, 2010.
'Another failed breakout attempt at the 1,510 point-level would also see the index continue to trade within the recent trading band ranging from 1,474 pts to 1,510 points,' it said.
OSK Research said the nearly 20-point gain recorded on Tuesday and Wednesday had improved the market's near-term technical landscape, but the violation of the 1,510 point-level still needs to be confirmed.
'The FBM KLCI's historic high of 1,532 points is now the only resistance which we can detect. To the downside, the 1,510 point-level is still the immediate support while another support is seen at the 1,485- 1,492-point area,' it said.
On Bursa Malaysia, Nestle was the top loser at mid-morning and fell 20 sen to RM43.60; Hap Seng fell 10 sen to RM18 sen to RM6.08, APM down nine sen to RM5.55, Genting and PPB fell eight sen each to RM10.80 and RM16.80, AMMB down nine sen to RM6.95, Maxis lost four sen to RM5.31, Gamuda down three sen to RM3.83 while Kencana lost seven sen to RM2.31.
Among the gainers were Batu Kawan, Bernas, F&N, KLK and HELP.
Adventa continued to attract investor interest and was actively traded this morning on market talk that it could be a potential acquisition target by a healthcare firm based in the US.
The stock rose 19 sen to RM2.83 with 3.87 million shares done.
Other actives included JCY, Tejari, IRCB and Unisem warrants.
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