KUALA LUMPUR: The FBM KLCI climbed on Wednesday, Feb 2, the final trading day of the year of the Bull, in tandem with the overnight jump at Wall Street and the surge at some of the key regional markets.
At 12.30pm, the FBM KLCI was up 0.78% to 1,531.82, lifted by gains at blue chips including at Genting, Sime Darby, KLK, Public Bank and Maybank.
Gainers led losers by 674 to 137, while 173 counters traded unchanged. Volume was 1.53 billion shares valued at RM1.70 billion.
The ringgit strengthened 0.31% to 3.0425; crude palm oil jumped RM90 per tonne to RM3,850, crude oil slipped 3 cents to US$90.74 and gold added US$3.13 per troy ounce to US$1,341.23.
At the regional markets, Japan's Nikkei 225 surged 1.85% to 10,465.00, Hong Kong's Hang Seng Index jumped 1.79% to 23,903.10 and Singapore's Straits Times Index advanced 0.90% to 3,213.31.
The China and Taiwan stock markets have already closed for the Chinese New Year celebrations; the Malaysian, Hong Kong and Singapore stock exchanges will be closed for the second half of the day.
OSK Research in its February Strategy report , said it had misjudged the market in January as the profit taking in the second half overwhelmed its expectations of a strong first month.
'Nonetheless, we expect the market to rebound in February as fundamentals remain intact and the 4Q2010 results reporting season should see analysts upgrading their earnings again.
'We like the banks, oil & gas and consumption related sectors for February. Our top buys centre on companies anticipated to display strong profitability (CIMB, AirAsia), laggards (KPJ) and rebounding stocks,' it said.
On Bursa Malaysia, Genting led the major gainers and was up 68 sen to RM11.34; Sime Darby added 10 sen to RM9.29, KLK up 26 sen to RM21.60, Nestle RM1.10 to RM45.80, BAT 82 sen to RM48 and Guan Chong 47 sen to RM3.40.
Other gainers were Batu Kawan and HPI, adding'' 34 sen each to RM16.74 and RM2.65, Tradewinds PLANTATION []s 32 sen to RM3.33, DFZ Capital 31 sen to RM3.89 .
Among banks, Hong Leong Bank added 11 sen to RM9.36, Public Bank six sen to RM13.44 and Maybank added three sen to RM8.73.
MTDFCapital was the top loser and fell 23 sen to RM9.95 after the run-up on Monday. Other decliners included Knusford, DiGi, Dutch Lady, Ibraco, HELP, Perstima and Pos.
Ho Wah Genting was the most active with 83 million shares traded. The stock added 18 sen to 90.5 sen. Other actives included SAAG, Olympia, Daya Materials, Tanco and Karambunai.
At 12.30pm, the FBM KLCI was up 0.78% to 1,531.82, lifted by gains at blue chips including at Genting, Sime Darby, KLK, Public Bank and Maybank.
Gainers led losers by 674 to 137, while 173 counters traded unchanged. Volume was 1.53 billion shares valued at RM1.70 billion.
The ringgit strengthened 0.31% to 3.0425; crude palm oil jumped RM90 per tonne to RM3,850, crude oil slipped 3 cents to US$90.74 and gold added US$3.13 per troy ounce to US$1,341.23.
At the regional markets, Japan's Nikkei 225 surged 1.85% to 10,465.00, Hong Kong's Hang Seng Index jumped 1.79% to 23,903.10 and Singapore's Straits Times Index advanced 0.90% to 3,213.31.
The China and Taiwan stock markets have already closed for the Chinese New Year celebrations; the Malaysian, Hong Kong and Singapore stock exchanges will be closed for the second half of the day.
OSK Research in its February Strategy report , said it had misjudged the market in January as the profit taking in the second half overwhelmed its expectations of a strong first month.
'Nonetheless, we expect the market to rebound in February as fundamentals remain intact and the 4Q2010 results reporting season should see analysts upgrading their earnings again.
'We like the banks, oil & gas and consumption related sectors for February. Our top buys centre on companies anticipated to display strong profitability (CIMB, AirAsia), laggards (KPJ) and rebounding stocks,' it said.
On Bursa Malaysia, Genting led the major gainers and was up 68 sen to RM11.34; Sime Darby added 10 sen to RM9.29, KLK up 26 sen to RM21.60, Nestle RM1.10 to RM45.80, BAT 82 sen to RM48 and Guan Chong 47 sen to RM3.40.
Other gainers were Batu Kawan and HPI, adding'' 34 sen each to RM16.74 and RM2.65, Tradewinds PLANTATION []s 32 sen to RM3.33, DFZ Capital 31 sen to RM3.89 .
Among banks, Hong Leong Bank added 11 sen to RM9.36, Public Bank six sen to RM13.44 and Maybank added three sen to RM8.73.
MTDFCapital was the top loser and fell 23 sen to RM9.95 after the run-up on Monday. Other decliners included Knusford, DiGi, Dutch Lady, Ibraco, HELP, Perstima and Pos.
Ho Wah Genting was the most active with 83 million shares traded. The stock added 18 sen to 90.5 sen. Other actives included SAAG, Olympia, Daya Materials, Tanco and Karambunai.
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