KUALA LUMPUR:'' Blue chips closed higher, with the FBM KLCI crossing and staying above the critical 1,500 level on Tuesday, March 1, as sentiment was given a boost by the firmer Wall Street and regional markets.
It closed up 10.99 points or 0.74% at 1,502.24 but year-to-date it is down 1.1%. Turnover was 1.12 billion shares valued at RM1.51 billion. The broader market displayed some caution, with declining counters beating advancers 412 to 356 while 310 stocks were unchanged.
Key regional markets closed higher, with Singapore Straits Times Index leading the pack with gains of 1.9% to 3,067.60; the Nikkei 225 up 1.22% to 10,754.03, Hang Seng Index 0.25% to 23,396.42, Shanghai Composite Index 0.48% to 2,918.92.
Meanwhile, oil prices rose back above US$112 a barrel on Tuesday due to concerns over unrest in the Middle East, though stock markets shrugged off the move, preferring to focus on optimism over the outlook for the US economy.
Reuters reported the upheaval in the Middle East and North Africa helped spot gold to rise about 0.3 percent to $1,414.20 an ounce, aiming for its third straight day of gains.
However, European equities tracked gains on Wall Street overnight and in Asia, with analysts saying markets had turned back to hopes of a strong recovery in the US and the prospect of monetary tightening there being delayed for some time.
At Bursa Malaysia, after a volatile month in February, there were some funds nibbling on index-linked stocks including Genting, Axiata and Sime Darby. However, the volume was rather thin, reflecting the cautious sentiment among investors.
Among the index linked stocks, Genting Bhg rose 27 sen to RM10.26, giving the 30-stock KLCI a 2.36 point boost while Axiata added 11 sen to RM4.99, adding another 2.2points to the index. Sime rose eight sen to RM9.04 and Genting Malaysia 11 sen to RM3.42, accounting for a combined 2.26 points.
Nestle was the top gainer, adding 44 sen to RM45.44, Far East 42 sen to RM7.50, F&N 34 sen to RM15.74 and DiGi, which is favoured as a defensive stock, rose 24 sen to RM26.84.
Solid waste management specialist Cypark added 23 sen to RM2.43.
Proton fell for the second day, losing 28 sen to RM3.58 after posting losses while BAT shed 20 sen to RM47.80 and Kulim 11 sen to RM3.35.
It closed up 10.99 points or 0.74% at 1,502.24 but year-to-date it is down 1.1%. Turnover was 1.12 billion shares valued at RM1.51 billion. The broader market displayed some caution, with declining counters beating advancers 412 to 356 while 310 stocks were unchanged.
Key regional markets closed higher, with Singapore Straits Times Index leading the pack with gains of 1.9% to 3,067.60; the Nikkei 225 up 1.22% to 10,754.03, Hang Seng Index 0.25% to 23,396.42, Shanghai Composite Index 0.48% to 2,918.92.
Meanwhile, oil prices rose back above US$112 a barrel on Tuesday due to concerns over unrest in the Middle East, though stock markets shrugged off the move, preferring to focus on optimism over the outlook for the US economy.
Reuters reported the upheaval in the Middle East and North Africa helped spot gold to rise about 0.3 percent to $1,414.20 an ounce, aiming for its third straight day of gains.
However, European equities tracked gains on Wall Street overnight and in Asia, with analysts saying markets had turned back to hopes of a strong recovery in the US and the prospect of monetary tightening there being delayed for some time.
At Bursa Malaysia, after a volatile month in February, there were some funds nibbling on index-linked stocks including Genting, Axiata and Sime Darby. However, the volume was rather thin, reflecting the cautious sentiment among investors.
Among the index linked stocks, Genting Bhg rose 27 sen to RM10.26, giving the 30-stock KLCI a 2.36 point boost while Axiata added 11 sen to RM4.99, adding another 2.2points to the index. Sime rose eight sen to RM9.04 and Genting Malaysia 11 sen to RM3.42, accounting for a combined 2.26 points.
Nestle was the top gainer, adding 44 sen to RM45.44, Far East 42 sen to RM7.50, F&N 34 sen to RM15.74 and DiGi, which is favoured as a defensive stock, rose 24 sen to RM26.84.
Solid waste management specialist Cypark added 23 sen to RM2.43.
Proton fell for the second day, losing 28 sen to RM3.58 after posting losses while BAT shed 20 sen to RM47.80 and Kulim 11 sen to RM3.35.
No comments:
Post a Comment