Thursday, January 6, 2011

FBM KLCI stays in positive territory, but gains limited

KUALA LUMPUR: The FBM KLCI stayed in positive territory at mid-morning on Thursday, Jan 6 but pared down its earlier gains as some mild profit taking signs emerged on the local bourse.

At 10am, the 30-stock index was up 0.91 point to 1,567.08. The index had earlier risen to a high of 1,576.95.

Gainers led losers by 338 to 187, while 256 counters traded unchanged. Volume was 487.61 million shares valued at RM448.32 million.

At the regional markets, Japan's Nikkei 225 rose 1.17% to 10,502.06, Singapore's Straits Times Index added 0.47% to 3,269.44, the Shanghai Composite Index up 0.31% to 2,847.50, Taiwan's Taiex gained 0.06% to 8,851.94, South Korea's Kospi up 0.01% to 2,082.85 while Hong Kong's Hang Seng Index opened 0.4% higher at 23,861.22.

Maybank Investment Bank Bhd head of retail research and chief chartist in a note to clients on Jan 6 said due the mixed US markets last night, the FBM KLCI could be in a solid trading mode today, with rotational buying that may see some minor profit-taking activities in the later part of the day.

'With the firm price action past its previous historical high level of 1,531.99 this year, the FBM KLCI is poised to surge into uncharted territory and head towards its targets of 1,571, 1,600 and 1,618,' he said.

On Bursa Malaysia, the top gainer at mid-morning was DFZ Capital that rose 43 sen to RM3.89; DiGi added 26 sen to RM25.16, Boustead up 23 sen to RM5.69, MPI and UEM Land gained 17 sen each to RM5.85 and RM2.72, whole Cocoaland, Batu Kawan and Kulim gained 16 sen each to RM2.78, RM17.12 and RM13.40 respectively.

Ramunia was the most actively traded counter with 27.3 million shares done. The stock added three sen to 61 sen.

Main Market debutant Maxweel International was also actively traded with 19.62 million shares done. The sportwear shoe maker added 3.5 sen to 57.5 sen.

Decliners this morning included BAT, Bintulu Port, Ekovest, United PLANTATION []s, Mudajaya, CIMB, IJM and KLK.

No comments:

Post a Comment