KUALA LUMPUR: The FBM KLCI closed higher on Friday, March 4 in tandem with the gains at key regional markets, as investors went on a buying spree picking up stocks that had been battered over the past few weeks since the civil unrests began in the Middle-east region.
Asian shares rose on Friday, helped by retreating oil prices and a firmer Wall Street close while the euro perked up after the central bank signalled a rate rise as early as next month, according to Reuters.
Shares in Tokyo and Seoul rose by more than 1% following strong gains in U.S. stocks as players bet on positive data due later on Friday that will underscore a steady improvement in the world's largest economy, it said.
The FBM KLCI closed 1.04% or 15.73 points higher at 1,522.61, lifted by gains including at index-linked PLANTATION [] stocks and select blue chips.
Gainers led losers by 674 to 148, while 240 counters traded unchanged. Volume was 1.13 billion shares valued at RM1.9 billion.
At the regional markets, Japan's Nikkei 225 rose 1.02% to 10,693.66, Hong Kong's Hang Seng Index was up 1.24% to 23,408.86, the Shanghai Composite Index rose 1.35% to 2,942.31, South Korea's Kospi gained 1.73% to 2,004.68, Singapore's Straits Times Index was 0.79% to 3,061.31 and Taiwan's Taiex edged up 0.53% to 8,784.40.
MIDF Research said the local bourse has gained momentum in tandem with the Asian stocks following a combination of healthy economic data unveiled by the US, primarily drop in initial jobless claims suggesting stronger employment growth can become self-sustaining, coupled with slight retrace in oil prices.
'While the local bourse continues to register net foreign selling, upside continue to emanate from local buying, who are awash with liquidity,' it said.
BIMB Securities Research meanwhile said regional bourses ended higher today driven by bargain-hunting activities after charted a sluggish performance recently.
The sentiment also was boosted by investors' confidence towards positive US job data that is slated to be announced tonight, it said.
On Bursa Malaysia, KLK rose 60 sen to RM21.10, United Plantations 30 sen to RM17.60, PPB 20 sen to RM17.62, IOI Corp 16 sen to RM5.73 and Sime Darby nine sen to RM9.17.
Among banking stocks, AMMB added 12 sen to RM6.38, Public Bank six sen to RM13.16 and Maybak four sen to RM8.80.
DiGi gained 52 sen to RM27.62, Genting 32 sen to RM10.34, MISC 31 sen to RM8.07, Dutch Lady 24 sen to RM16.14 while KNM and Faber added 19 sen each to RM2.59 and RM1.89.
BAT was the top loser and fell 64 sen to RM48.10; Nestle lost 34 sen to RM45.10, Proton 18 sen to RM3.26, Nakamichi 10.5 sen to 87 sen, Parkson eight sen to RM5.28, while SHL and Glenealy lost seven sen each to RM1.33 and RM4.68.
SAAG was the most actively traded counter with 65.3 million shares done. The stock rose one sen to 10 sen. Other actives included Tanco, CIMB, HWGB, KNM, Karambunai and Olympia.
Asian shares rose on Friday, helped by retreating oil prices and a firmer Wall Street close while the euro perked up after the central bank signalled a rate rise as early as next month, according to Reuters.
Shares in Tokyo and Seoul rose by more than 1% following strong gains in U.S. stocks as players bet on positive data due later on Friday that will underscore a steady improvement in the world's largest economy, it said.
The FBM KLCI closed 1.04% or 15.73 points higher at 1,522.61, lifted by gains including at index-linked PLANTATION [] stocks and select blue chips.
Gainers led losers by 674 to 148, while 240 counters traded unchanged. Volume was 1.13 billion shares valued at RM1.9 billion.
At the regional markets, Japan's Nikkei 225 rose 1.02% to 10,693.66, Hong Kong's Hang Seng Index was up 1.24% to 23,408.86, the Shanghai Composite Index rose 1.35% to 2,942.31, South Korea's Kospi gained 1.73% to 2,004.68, Singapore's Straits Times Index was 0.79% to 3,061.31 and Taiwan's Taiex edged up 0.53% to 8,784.40.
MIDF Research said the local bourse has gained momentum in tandem with the Asian stocks following a combination of healthy economic data unveiled by the US, primarily drop in initial jobless claims suggesting stronger employment growth can become self-sustaining, coupled with slight retrace in oil prices.
'While the local bourse continues to register net foreign selling, upside continue to emanate from local buying, who are awash with liquidity,' it said.
BIMB Securities Research meanwhile said regional bourses ended higher today driven by bargain-hunting activities after charted a sluggish performance recently.
The sentiment also was boosted by investors' confidence towards positive US job data that is slated to be announced tonight, it said.
On Bursa Malaysia, KLK rose 60 sen to RM21.10, United Plantations 30 sen to RM17.60, PPB 20 sen to RM17.62, IOI Corp 16 sen to RM5.73 and Sime Darby nine sen to RM9.17.
Among banking stocks, AMMB added 12 sen to RM6.38, Public Bank six sen to RM13.16 and Maybak four sen to RM8.80.
DiGi gained 52 sen to RM27.62, Genting 32 sen to RM10.34, MISC 31 sen to RM8.07, Dutch Lady 24 sen to RM16.14 while KNM and Faber added 19 sen each to RM2.59 and RM1.89.
BAT was the top loser and fell 64 sen to RM48.10; Nestle lost 34 sen to RM45.10, Proton 18 sen to RM3.26, Nakamichi 10.5 sen to 87 sen, Parkson eight sen to RM5.28, while SHL and Glenealy lost seven sen each to RM1.33 and RM4.68.
SAAG was the most actively traded counter with 65.3 million shares done. The stock rose one sen to 10 sen. Other actives included Tanco, CIMB, HWGB, KNM, Karambunai and Olympia.
No comments:
Post a Comment