KUALA LUMPUR: The FBM KLCI extended it ''losses in early trade on Tuesday, Jan 25 and fell for the fifth consecutive day, weighed by some profit taking at select blue chips.
At mid-morning, the 30-stock index shed 2.72 points to 1,540.25, with losses including at KLK, AMMB, Gamuda and Telekom.
Gainers led losers by 264 to 199, while 199 counters traded unchanged. Volume was 470.70 million shares valued at RM327.95 million.
Most key regional markets advanced on the back of the slightly firmer close at Wall Street.
Japan's Nikkei 225 was up 0.94% to 10,442.61, South Korea's Kospi added 0.87% to 2,100.33, Taiwan's Taiex rose 0.75% to 9,014.81, Singapore's Straits Times Index gained 0.41% to 3,198.82 and Hong Kong's Hang Seng Index opened 0.4% higher at 23,891.68. Meanwhile, the Shanghai Composite Index shed 0.4% to 2,684.91.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Jan 25 said with the strong selling last Friday, the market broke below the 1,558.64 support level.
'As such, a persistent bout of weakness will exist for the index ahead of the Chinese New Year holidays.
'Despite the firm US markets last night, we may see the FBM KLCI in an initial 'gap-up' mode today, with later intra-day profit taking in the afternoon,' he said.
On Bursa Malaysia, the top loser at mid-morning was KLK that fell 22 sen to RM21.66; AMMB and Batu Kawan lost 10 sen each to 6.76 and RM16.70, DFZ Capital down eight sen to RM3.30, Gamuda seven sen to RM3.83, while QSR, Telekom and Bernas fell six sen each to RM5.36, RM3.70 and RM2.66 respectively.
Among the gainers, GAB jumped 62 sen to RM10.62 after OSK Research said it expects the brewer to post another set of healthy earnings for FY11 and raised its target price to RM9.97 from RM7.97 previously.
Other gainers in early trade included Petronas Dagangan, Mudajaya, DiGi, SapuraCrest, Tong Herr, Eng Kah and Genting PLANTATION []s.
Karambunai was the most actively traded counter with 57.7 million shares done. The stock added 1.5 sen to 24 sen. Other actives included Ho Wah Genting, Olympia, SAAG, Talam, Maxbiz and Iris.
At mid-morning, the 30-stock index shed 2.72 points to 1,540.25, with losses including at KLK, AMMB, Gamuda and Telekom.
Gainers led losers by 264 to 199, while 199 counters traded unchanged. Volume was 470.70 million shares valued at RM327.95 million.
Most key regional markets advanced on the back of the slightly firmer close at Wall Street.
Japan's Nikkei 225 was up 0.94% to 10,442.61, South Korea's Kospi added 0.87% to 2,100.33, Taiwan's Taiex rose 0.75% to 9,014.81, Singapore's Straits Times Index gained 0.41% to 3,198.82 and Hong Kong's Hang Seng Index opened 0.4% higher at 23,891.68. Meanwhile, the Shanghai Composite Index shed 0.4% to 2,684.91.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Jan 25 said with the strong selling last Friday, the market broke below the 1,558.64 support level.
'As such, a persistent bout of weakness will exist for the index ahead of the Chinese New Year holidays.
'Despite the firm US markets last night, we may see the FBM KLCI in an initial 'gap-up' mode today, with later intra-day profit taking in the afternoon,' he said.
On Bursa Malaysia, the top loser at mid-morning was KLK that fell 22 sen to RM21.66; AMMB and Batu Kawan lost 10 sen each to 6.76 and RM16.70, DFZ Capital down eight sen to RM3.30, Gamuda seven sen to RM3.83, while QSR, Telekom and Bernas fell six sen each to RM5.36, RM3.70 and RM2.66 respectively.
Among the gainers, GAB jumped 62 sen to RM10.62 after OSK Research said it expects the brewer to post another set of healthy earnings for FY11 and raised its target price to RM9.97 from RM7.97 previously.
Other gainers in early trade included Petronas Dagangan, Mudajaya, DiGi, SapuraCrest, Tong Herr, Eng Kah and Genting PLANTATION []s.
Karambunai was the most actively traded counter with 57.7 million shares done. The stock added 1.5 sen to 24 sen. Other actives included Ho Wah Genting, Olympia, SAAG, Talam, Maxbiz and Iris.
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