KUALA LUMPUR: ''The FBM KLCI continued to slide for the fifth consecutive day, succumbing to some mild profit taking ahead of the Chinese New Year break next week that would see a shorter trading period.
Key regional markets, however, were most higher on the back of the slightly firmer overnight close at Wall Street.
Asian stocks rose on Tuesday, with the Nikkei gaining more than 1%, on optimism that companies will report strong earnings, while the euro held near a two-month high, according to Reuters.
The euro could get a further boost if the U.S. Federal Reserve maintains a cautious view of the U.S. economic recovery after a two-day policy meeting on Tuesday and Wednesday, it said.
Markets are increasingly speculating that the European Central Bank will lift interest rates ahead of the Fed, after recent tough comments by ECB chief Jean Claude Trichet about the need to keep inflation in check, it said.
Reuters reported that Japan's Nikkei average rose for a second straight session, advancing 1.1%, lifted not only by gains in New York and London overnight but by local optimism ahead of major corporate earnings reports.
The benchmark FBM KLCI fell 6.07 points to 1,536.90 at the mid-day break. Gainers led losers by 370 to 296, while 269 counters traded unchanged. Volume was 1.13 billion shares valued at RM992.35 million.
At the regional markets, Japan's Nikkei 225 was up 1.09% to 10,457.36, South Korea's Kospi added 0.86% to 2,099.99, Taiwan's Taiex gained 0.64% to 9,005.32, Hong Kong's Hang Seng rose 0.53% to 23,926.83, Singapore's Straits Times Index was up 0.11% to 3,189.13, but the Shanghai Composite Index slipped 0.56% to 2,680.71.
On Bursa Malaysia, BAT was the top loser this morning and fell 82 sen to RM47.52; KLK lost 52 sen to RM21.36, Nestle fell 20 sen to RM45, DFZ Capital and Genting down 18 sen each to RM3.20 and RM11.12, MAHB fell 15 sen to RM6.05, Dutch Lady lost 12 sen to RM17.12 while Far East, Batu Kawan and MTD Capital fell 10 sen each to RM7.30, RM16.70 and RM9.50 respectively.
Gainers included Mudajaya, SapuraCrest, Tasek, Kuchai, Glenealy, Eng Kah and KNM.
Karambunai was the most actively traded counter with 120 million shares done. The stock gained 1.5 sen to 24 sen. Other actives included Ho Wah Genting, SAAG, Olympia and Ramunia.
Meanwhile, PUBLIC BANK BHD []'s net profit for the fourth quarter ended Dec 31, 2010 jumped 24.76% to RM846.19 million from RM678.23 million, driven mainly by growth in net interest and finance income, as well as higher non-interest income.
Its revenue for the quarter increased to RM2.97 billion from RM2.49 billion a year earlier. Earnings per share was 24.16.
The bank declared a second interim franked dividend of 25 sen less tax and single tier cash dividend of 8 sen in respect of the financial year ended Dec 31, 2010.
For the year ended Dec 31, 2010, Public Bank's net profit rose 21% to RM3.05 billion from RM2.52 billion, on the back of revenue RM11.04 billion.
Key regional markets, however, were most higher on the back of the slightly firmer overnight close at Wall Street.
Asian stocks rose on Tuesday, with the Nikkei gaining more than 1%, on optimism that companies will report strong earnings, while the euro held near a two-month high, according to Reuters.
The euro could get a further boost if the U.S. Federal Reserve maintains a cautious view of the U.S. economic recovery after a two-day policy meeting on Tuesday and Wednesday, it said.
Markets are increasingly speculating that the European Central Bank will lift interest rates ahead of the Fed, after recent tough comments by ECB chief Jean Claude Trichet about the need to keep inflation in check, it said.
Reuters reported that Japan's Nikkei average rose for a second straight session, advancing 1.1%, lifted not only by gains in New York and London overnight but by local optimism ahead of major corporate earnings reports.
The benchmark FBM KLCI fell 6.07 points to 1,536.90 at the mid-day break. Gainers led losers by 370 to 296, while 269 counters traded unchanged. Volume was 1.13 billion shares valued at RM992.35 million.
At the regional markets, Japan's Nikkei 225 was up 1.09% to 10,457.36, South Korea's Kospi added 0.86% to 2,099.99, Taiwan's Taiex gained 0.64% to 9,005.32, Hong Kong's Hang Seng rose 0.53% to 23,926.83, Singapore's Straits Times Index was up 0.11% to 3,189.13, but the Shanghai Composite Index slipped 0.56% to 2,680.71.
On Bursa Malaysia, BAT was the top loser this morning and fell 82 sen to RM47.52; KLK lost 52 sen to RM21.36, Nestle fell 20 sen to RM45, DFZ Capital and Genting down 18 sen each to RM3.20 and RM11.12, MAHB fell 15 sen to RM6.05, Dutch Lady lost 12 sen to RM17.12 while Far East, Batu Kawan and MTD Capital fell 10 sen each to RM7.30, RM16.70 and RM9.50 respectively.
Gainers included Mudajaya, SapuraCrest, Tasek, Kuchai, Glenealy, Eng Kah and KNM.
Karambunai was the most actively traded counter with 120 million shares done. The stock gained 1.5 sen to 24 sen. Other actives included Ho Wah Genting, SAAG, Olympia and Ramunia.
Meanwhile, PUBLIC BANK BHD []'s net profit for the fourth quarter ended Dec 31, 2010 jumped 24.76% to RM846.19 million from RM678.23 million, driven mainly by growth in net interest and finance income, as well as higher non-interest income.
Its revenue for the quarter increased to RM2.97 billion from RM2.49 billion a year earlier. Earnings per share was 24.16.
The bank declared a second interim franked dividend of 25 sen less tax and single tier cash dividend of 8 sen in respect of the financial year ended Dec 31, 2010.
For the year ended Dec 31, 2010, Public Bank's net profit rose 21% to RM3.05 billion from RM2.52 billion, on the back of revenue RM11.04 billion.
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