KUALA LUMPUR: The FBM KLCI lost some momentum in early trade on Thursday, Dec 23 and slipped into negative territory at mid-morning, weighed by losses at key blue chips including DiGi,'' UMW, CIMB and Genting, as well as PLANTATION [] stocks.
At 10am, the benchmark index, which had started the day on a promising note, fell 1.81 points to 1,513.24.
Losers led gainers by 207 to 181, while 245 counters traded unchanged. Volume was 271.09 million shares valued at RM243.01 million.
Regional markets were mixed, with the Shanghai Composite Index down 0.17% to 2,872.88 while South Korea's Kospi shed 0.12% to 2,035.66.
The Singapore Straits Times Index added 0.50% to 3,160.10, Taiwan's Taiex gained 0.42% to 8,897.46 and Hong Kong's Hang Seng Index opened 0.3% higher at 23,117.67.
Japan's Nikkei 225 was closed to observe a national holiday for the Emperor's birthday.
Commenting on Bursa Malaysia, OSK Investment Research in a note Dec 23 said follow-through buying yesterday buoyed the market to a higher close for the second consecutive session.
It said that after the nearly 20-points gain over the last two sessions, the FBM KLCI was now trading further away from the uptrend line. Another positive development is that the index ended above 1,510 points for only the second time since Nov 12, 2010.
The research house said although the index closed above the 1,510 point-level yesterday, this breakout still needs to be confirmed, especially after it experienced a failed breakout attempt on Dec 9, 2010.
'Whether or not the market could continue to add more points from the current level would determine its immediate outlook. This is because 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
'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 the immediate support while another support is seen at the 1,485- 1,492-point area,' it said.
On Bursa'' Malaysia, the top loser at mid-morning was DiGi that fell 70 sen to RM25.20; Kulim lost 18 sen to RM12.56, Batu Kawan fell 16 sen to RM16.26, PPB lost 12 sen to RM17.72, while Keck Seng, Boustead, UMW and CIMB fell five sen each to RM6.70, RM5.36, RM7.05 and RM8.55 respectively.
Meanwhile, Genting and RHB Capital fell four sen each to RM10.76 and RM8.56.
Gainers included BAT, Dutch Lady, Adventa, Tan Chong, Padini, Media Prima, Nestle and MAS.
The actives included KNM shares and warrants, Land & General, KNM and MAS.
At 10am, the benchmark index, which had started the day on a promising note, fell 1.81 points to 1,513.24.
Losers led gainers by 207 to 181, while 245 counters traded unchanged. Volume was 271.09 million shares valued at RM243.01 million.
Regional markets were mixed, with the Shanghai Composite Index down 0.17% to 2,872.88 while South Korea's Kospi shed 0.12% to 2,035.66.
The Singapore Straits Times Index added 0.50% to 3,160.10, Taiwan's Taiex gained 0.42% to 8,897.46 and Hong Kong's Hang Seng Index opened 0.3% higher at 23,117.67.
Japan's Nikkei 225 was closed to observe a national holiday for the Emperor's birthday.
Commenting on Bursa Malaysia, OSK Investment Research in a note Dec 23 said follow-through buying yesterday buoyed the market to a higher close for the second consecutive session.
It said that after the nearly 20-points gain over the last two sessions, the FBM KLCI was now trading further away from the uptrend line. Another positive development is that the index ended above 1,510 points for only the second time since Nov 12, 2010.
The research house said although the index closed above the 1,510 point-level yesterday, this breakout still needs to be confirmed, especially after it experienced a failed breakout attempt on Dec 9, 2010.
'Whether or not the market could continue to add more points from the current level would determine its immediate outlook. This is because 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
'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 the immediate support while another support is seen at the 1,485- 1,492-point area,' it said.
On Bursa'' Malaysia, the top loser at mid-morning was DiGi that fell 70 sen to RM25.20; Kulim lost 18 sen to RM12.56, Batu Kawan fell 16 sen to RM16.26, PPB lost 12 sen to RM17.72, while Keck Seng, Boustead, UMW and CIMB fell five sen each to RM6.70, RM5.36, RM7.05 and RM8.55 respectively.
Meanwhile, Genting and RHB Capital fell four sen each to RM10.76 and RM8.56.
Gainers included BAT, Dutch Lady, Adventa, Tan Chong, Padini, Media Prima, Nestle and MAS.
The actives included KNM shares and warrants, Land & General, KNM and MAS.
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