KUALA LUMPUR: The FBM KLCI ended higher on Monday, Feb 7, the first trading day of the New Lunar Year, but its gains were limited despite a surge in trading, as worries of volume decline at Resorts World Sentosa weighed on GENTING BHD [].
The 30-stock FBM KLCI rose 0.25% or 3.78 points to close at 1,535.60, lifted by gains at select blue chips including at KLK, Axiata, Maybank, Petronas Chemicals and Sime Darby.
Gainers led losers by 567 to 287, while 240 counters traded unchanged. Volume was 3.24 billion shares valued at RM2.62 billion.
At the regional markets, Hong Kong shares fell on Monday, with losses accelerating into the close as oil companies were hit by easing crude prices, according to Reuters. Overall turnover remained subdued with mainland markets still closed and conviction among investors low, it said.
The Hang Seng Index fell 1.49% to 23,553.59 and Singapore's Straits Times Index lost 0.59% to 3,192.18, while the Nikkei 225 closed 0.46% higher at 10.592.04 and Kospi rose 0.47% to 2,081.74.
China's markets are closed for the Chinese New Year holidays and will resume trade on Wednesday, Feb 9.
Commenting on activities at the local market, MIDF Research head Zulkifli Hamzah said it was certainly a case of pent-up demand as volume of shares traded exceeded the two-billion unit mark for the first time since Jan 14.
'Indeed volume was the highest this year, which augurs well for the market,' he said.
He said that there was buying across the board, emanating from both retail and institutional investors, adding that strong foreign presence was unmistakable based on the stocks that were heavily traded today, such as CIMB, Sime and Petronas Chemical.
'The strength of the ringgit of late presages a return of foreign interests in Bursa. This indicates that investors' concern over China and Asian emerging markets are dissipating,' he said.
Among the major gainers, KL Kepong was up RM1.10 to RM22.70, Petronas Chemicals 15 sen to RM6.30, Axiata eight sen to RM4.94, Maybank seven sen to RM8.80,'' and Sime Darby four sen to RM9.33.
Meanwhile, IOI Corp, Tenaga, Genting Malaysia'' and Gamuda rose three sen each to RM5.78, RM6.15, RM3.41 and RM3.90 respectively, while Public Bank added two sen to RM13.46.
Other gainers included Pharmaniaga, Batu Kawan, BHIC, LPI Capital, Cocoaland, MTD Capital and Tradewinds.
Genting, which fell 44 sen to RM10.90, shaved 3.85 points off the FBM KLCI; other losers today included BAT that also lost 44 sen to RM47.56, Tahps 34 sen to RM4.86, Paos down 18 sen to 66 sen, Shell 16 sen to RM10.64, Paramount 15 sen to RM4.63, while Lysaght, Delloyd and Public Bank fell 12 sen each to RM1.56, RM3.50 and RM17 respectively.
Iris Corp was the most actively traded counter with 203.3 million shares done. The stock added 6.5 sen to 23.5 sen.
Other actives included Karambunai, Talam, SAAG, Ho Wah Genting and Ramunia.
The 30-stock FBM KLCI rose 0.25% or 3.78 points to close at 1,535.60, lifted by gains at select blue chips including at KLK, Axiata, Maybank, Petronas Chemicals and Sime Darby.
Gainers led losers by 567 to 287, while 240 counters traded unchanged. Volume was 3.24 billion shares valued at RM2.62 billion.
At the regional markets, Hong Kong shares fell on Monday, with losses accelerating into the close as oil companies were hit by easing crude prices, according to Reuters. Overall turnover remained subdued with mainland markets still closed and conviction among investors low, it said.
The Hang Seng Index fell 1.49% to 23,553.59 and Singapore's Straits Times Index lost 0.59% to 3,192.18, while the Nikkei 225 closed 0.46% higher at 10.592.04 and Kospi rose 0.47% to 2,081.74.
China's markets are closed for the Chinese New Year holidays and will resume trade on Wednesday, Feb 9.
Commenting on activities at the local market, MIDF Research head Zulkifli Hamzah said it was certainly a case of pent-up demand as volume of shares traded exceeded the two-billion unit mark for the first time since Jan 14.
'Indeed volume was the highest this year, which augurs well for the market,' he said.
He said that there was buying across the board, emanating from both retail and institutional investors, adding that strong foreign presence was unmistakable based on the stocks that were heavily traded today, such as CIMB, Sime and Petronas Chemical.
'The strength of the ringgit of late presages a return of foreign interests in Bursa. This indicates that investors' concern over China and Asian emerging markets are dissipating,' he said.
Among the major gainers, KL Kepong was up RM1.10 to RM22.70, Petronas Chemicals 15 sen to RM6.30, Axiata eight sen to RM4.94, Maybank seven sen to RM8.80,'' and Sime Darby four sen to RM9.33.
Meanwhile, IOI Corp, Tenaga, Genting Malaysia'' and Gamuda rose three sen each to RM5.78, RM6.15, RM3.41 and RM3.90 respectively, while Public Bank added two sen to RM13.46.
Other gainers included Pharmaniaga, Batu Kawan, BHIC, LPI Capital, Cocoaland, MTD Capital and Tradewinds.
Genting, which fell 44 sen to RM10.90, shaved 3.85 points off the FBM KLCI; other losers today included BAT that also lost 44 sen to RM47.56, Tahps 34 sen to RM4.86, Paos down 18 sen to 66 sen, Shell 16 sen to RM10.64, Paramount 15 sen to RM4.63, while Lysaght, Delloyd and Public Bank fell 12 sen each to RM1.56, RM3.50 and RM17 respectively.
Iris Corp was the most actively traded counter with 203.3 million shares done. The stock added 6.5 sen to 23.5 sen.
Other actives included Karambunai, Talam, SAAG, Ho Wah Genting and Ramunia.
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