KUALA LUMPUR: The FBM KLCI kicked off the first trading day of 2011 on Bursa Malaysia on a positive note, lifted by gains including at key blue chips and PLANTATION [] stocks.
At mid-morning, the 30-stock index was up 8.26 points to 1,527.17. Gainers led losers by 350 to 117 while 193 counters traded unchanged. Volume was 280.89 million shares valued at RM287.83 million.
At the regional markets, Singapore's Straits Times Index was up 1.06% to 3,223.78, South Korea's Kospi added 0.78% to 2,066.98, Taiwan's Taiex gained 0.44% to 9,012.21 while Hong Kong's Hang Seng Index opened 0.4% higher at 23,120.34.
The stock markets in Japan, China and Australia were closed for the New Year holidays.
SJ Securities Sdn Bhd in a note Jan 3 said the FBM KLCI was currently above all its short, medium and long term moving averages (MA), which indicated a bullish state of the benchmark index.
Immediate overhead resistance zone was at 1,519 to 1,532, while the immediate downside support zone was at 1,516 to 1,500,it said.
'Stocks on Bursa Malaysia are likely to show good momentum this week as most investors return from their year end holiday with a "feel good factors" towards the New Year.
'Last Friday, the Dow closed +7.80 or +0.07% higher to end year 2010 at 11,577.51. This week, the FBM KLCI may trade within a range of 1,488 to 1,550, and for today it is likely to trade within a range of 1,503 to 1,541,' it said.
On Bursa Malaysia, among the major gainers were KLK that added 38 sen to RM22.48, DiGi up 36 sen to RM24.96, F&N rose 30 sen to RM15.30, Lafarge Malayan Cement added 23 sen to RM7.90, Hap Seng Plantations up 22 sen to RM3.57, Tong Herr and Hap Seng up 21 each to RM2.81 and RM7.30, Ekovest up 17 sen to RM2.16, Kulim gained 16 sen to RM12.90, CIMB up eight sen to RM8.58, Genting up four sen to RM11.22 while IOI Corp rose three sen to RM5.84.
Among the decliners, Cepco lost 44 sen to RM2.26, JobStreet down 17 sen to RM2.81, GAB down 12 sen to RM10.04, Amway and Warisan fell nine sen each to RM8.21 and RM2.43, while MAHB and Carlsberg fell seven each to RM6.21 and RM6.25.
Meanwhile, IJM Land fell seven sen to RM2.79 and IJM warrants lost 15 sen to RM2.61 after the proposed IJM Land-MRCB merger fell through.
Talam was the most actively traded counter with 24.69 million shares done. The stock was unchanged at 8.5 sen.
Other actives included Tejari, IRCB, Borneo Oil, Ramunia, Ho Wah Genting and IJM Land warrants.
At mid-morning, the 30-stock index was up 8.26 points to 1,527.17. Gainers led losers by 350 to 117 while 193 counters traded unchanged. Volume was 280.89 million shares valued at RM287.83 million.
At the regional markets, Singapore's Straits Times Index was up 1.06% to 3,223.78, South Korea's Kospi added 0.78% to 2,066.98, Taiwan's Taiex gained 0.44% to 9,012.21 while Hong Kong's Hang Seng Index opened 0.4% higher at 23,120.34.
The stock markets in Japan, China and Australia were closed for the New Year holidays.
SJ Securities Sdn Bhd in a note Jan 3 said the FBM KLCI was currently above all its short, medium and long term moving averages (MA), which indicated a bullish state of the benchmark index.
Immediate overhead resistance zone was at 1,519 to 1,532, while the immediate downside support zone was at 1,516 to 1,500,it said.
'Stocks on Bursa Malaysia are likely to show good momentum this week as most investors return from their year end holiday with a "feel good factors" towards the New Year.
'Last Friday, the Dow closed +7.80 or +0.07% higher to end year 2010 at 11,577.51. This week, the FBM KLCI may trade within a range of 1,488 to 1,550, and for today it is likely to trade within a range of 1,503 to 1,541,' it said.
On Bursa Malaysia, among the major gainers were KLK that added 38 sen to RM22.48, DiGi up 36 sen to RM24.96, F&N rose 30 sen to RM15.30, Lafarge Malayan Cement added 23 sen to RM7.90, Hap Seng Plantations up 22 sen to RM3.57, Tong Herr and Hap Seng up 21 each to RM2.81 and RM7.30, Ekovest up 17 sen to RM2.16, Kulim gained 16 sen to RM12.90, CIMB up eight sen to RM8.58, Genting up four sen to RM11.22 while IOI Corp rose three sen to RM5.84.
Among the decliners, Cepco lost 44 sen to RM2.26, JobStreet down 17 sen to RM2.81, GAB down 12 sen to RM10.04, Amway and Warisan fell nine sen each to RM8.21 and RM2.43, while MAHB and Carlsberg fell seven each to RM6.21 and RM6.25.
Meanwhile, IJM Land fell seven sen to RM2.79 and IJM warrants lost 15 sen to RM2.61 after the proposed IJM Land-MRCB merger fell through.
Talam was the most actively traded counter with 24.69 million shares done. The stock was unchanged at 8.5 sen.
Other actives included Tejari, IRCB, Borneo Oil, Ramunia, Ho Wah Genting and IJM Land warrants.
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