KUALA LUMPUR: The FBM KLCI extended its gains on Friday, March 25 in line with regional markets following the firmer overnight close at Wall Street.
The Nikkei share average rose on Friday, helped by gains in U.S. stocks on optimism about upcoming earnings reports, while Asian investors took the reopening of some of Japan's factories post-earthquake as positive news.
The Asian markets also appeared to shrug off Standard & Poor's downgrade of Portugal's credit ratings by two notches to BBB on Friday and warning that it could cut it again by one notch as early as next week depending on the final shape of the euro zone bailout fund.
S&P, which followed a two-notch cut by Fitch on Thursday, said the collapse of Portugal's government has increased political uncertainty, hurting market confidence and potentially raising refinancing risk.
The FBM KLCI added 3.45 points to 1,517.29 at mid-morning, lifted by gains including at KLK and DiGi.
Gainers led losers by 302 to 115, while 214 counters traded unchanged. Volume was 219.7 million shares valued at RM217.65 million.
At the regional markets, Japan's Nikkei rose 1% to 9,529.14, Hong Kong's Hang Seng Index gained 0.79% to 23,095.83, South Korea's Kospi added 0.56% to 2,048.21, Singapore's Straits Times Index up 0.55% to 3,059.90, Taiwan's Taiex rose 0.15% to 8,589.06 while the Shanghai Composite Index edged up 0.07% to 2,948.82.
BIMB Securities Research in a note March 25 said Wall Street closed in positive momentum at the back of encouraging quarterly earnings and also the drop in first time claim for unemployment benefit, a sign that the job market is improving.
'It is hopeful that the drop in first time claim for unemployment benefit will be a precursor for the improvement in US unemployment figure, as this has been the biggest stumbling block for the US economy.
'Given this positive development in Wall Street, expect the local and regional market to continue its positive momentum today,' it said.
On Bursa Malaysia, Nestle was the top gainer and added RM1 to RM48; F&N rose 28 sen to RM15.88, Esso added 25 sen to RM3.74, PacificMas 17 sen to RM4.85, KLK 14 sen to RM21.18, Bursa 13 sen to RM8.22, NPC and BHIC 12 sen each to RM2.15 and RM4.06, while DiGi added 10 sen to RM27.74.
Media Prima was the most actively traded counter with 16.44 million shares done. The stock added five sen to RM2.40.
Other actives included CNI, Nam Fatt, TMS, JCY and Karambunai.
Decliners at mid-morning included JT International, Hing Yap, Nam Fatt, KKB, Berjaya Land and Maxis.
The Nikkei share average rose on Friday, helped by gains in U.S. stocks on optimism about upcoming earnings reports, while Asian investors took the reopening of some of Japan's factories post-earthquake as positive news.
The Asian markets also appeared to shrug off Standard & Poor's downgrade of Portugal's credit ratings by two notches to BBB on Friday and warning that it could cut it again by one notch as early as next week depending on the final shape of the euro zone bailout fund.
S&P, which followed a two-notch cut by Fitch on Thursday, said the collapse of Portugal's government has increased political uncertainty, hurting market confidence and potentially raising refinancing risk.
The FBM KLCI added 3.45 points to 1,517.29 at mid-morning, lifted by gains including at KLK and DiGi.
Gainers led losers by 302 to 115, while 214 counters traded unchanged. Volume was 219.7 million shares valued at RM217.65 million.
At the regional markets, Japan's Nikkei rose 1% to 9,529.14, Hong Kong's Hang Seng Index gained 0.79% to 23,095.83, South Korea's Kospi added 0.56% to 2,048.21, Singapore's Straits Times Index up 0.55% to 3,059.90, Taiwan's Taiex rose 0.15% to 8,589.06 while the Shanghai Composite Index edged up 0.07% to 2,948.82.
BIMB Securities Research in a note March 25 said Wall Street closed in positive momentum at the back of encouraging quarterly earnings and also the drop in first time claim for unemployment benefit, a sign that the job market is improving.
'It is hopeful that the drop in first time claim for unemployment benefit will be a precursor for the improvement in US unemployment figure, as this has been the biggest stumbling block for the US economy.
'Given this positive development in Wall Street, expect the local and regional market to continue its positive momentum today,' it said.
On Bursa Malaysia, Nestle was the top gainer and added RM1 to RM48; F&N rose 28 sen to RM15.88, Esso added 25 sen to RM3.74, PacificMas 17 sen to RM4.85, KLK 14 sen to RM21.18, Bursa 13 sen to RM8.22, NPC and BHIC 12 sen each to RM2.15 and RM4.06, while DiGi added 10 sen to RM27.74.
Media Prima was the most actively traded counter with 16.44 million shares done. The stock added five sen to RM2.40.
Other actives included CNI, Nam Fatt, TMS, JCY and Karambunai.
Decliners at mid-morning included JT International, Hing Yap, Nam Fatt, KKB, Berjaya Land and Maxis.
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