KUALA LUMPUR: The markets in Europe and key regional market staged a turnaround on Wednesday, April 13, chalking up gains as investors sought out recently sold-down counters.
The optimism was also seen at Bursa Malaysia, where the FBM KLCI snapped out from the morning losses to close 9.67 points higher at 1,535.59.
Turnover was 1.17 billion shares valued at RM1.67 billion. The broader market improved sharply with advancing counters beating decliners three to one, with 610 gainers to 205 losers while 265 stocks were unchanged.
Reuters reported overall, Wednesday was mostly a mirror image of Tuesday, reflecting investors' current tendency to be risk-on one day and risk-off the next.
Surveys suggest that investors are willing to take riskier bets at the moment but are being constrained by concerns that growth in the global economy is vulnerable.
At Bursa Malaysia, the one-day spurt was not enough to recoup the losses sustained by investors on Monday and Tuesday. Over those past two days, a total of RM28.27 billion was wiped out from the market capitalisation which saw it reduced to RM1.299 trillion.
Sentiment at Bursa Malaysia was underpinned by the positive news flows, though analysts described them as not very exciting.
CLSA Research said investors who attended the 7th Invest Malaysia conference on Tuesday were disappointed. Apparently investors were expecting Prime Minister Datuk Seri Najib Razak to make a slew of 'market-moving' announcements during his keynote address.
However, this did not materialise and benchmark FBMKLCI was down 1.1% to 1,526.
'We are not too concerned on the lack of news flow or announcements during this conference. News flow and announcements tend to drive share price performance only for the near term. We prefer to remain focused on Malaysia's longer term structural growth prospects,' CLSA Research said.
Among the top gainers were BAT, up 56 sen to RM48, Petronas Chemicals 31 sen to RM7.36, Nestle 20 sen to RM48 and Shell 18 sen to RM11.08.
HL Bank added 18 sen to RM10.58, Mudajaya and KLCCP 16 sen each to RM4.82 and RM3.36 while Tradewinds advanced 14 sen to RM7.79.
Digistar was the most active with 27.69 million shares done, unchanged at 37 sen. E&O rose nine sen to RM1.26 after its masterplan to reclaim and develop property in Penang was approved.
Petronas Dagangan was the top loser, down 12 sen to RM16.20. Ho Hup shed nine sen to 69 sen, while heavyweights Sime Darby and Public Bank gave up six sen each to RM9.11 and RM13.
Top Glove lost nine sen to RM4.96 with four million shares done. It had earlier said that it expected four new plants with 80 lines, costing RM160 million, to be completed by August this year.
The optimism was also seen at Bursa Malaysia, where the FBM KLCI snapped out from the morning losses to close 9.67 points higher at 1,535.59.
Turnover was 1.17 billion shares valued at RM1.67 billion. The broader market improved sharply with advancing counters beating decliners three to one, with 610 gainers to 205 losers while 265 stocks were unchanged.
Reuters reported overall, Wednesday was mostly a mirror image of Tuesday, reflecting investors' current tendency to be risk-on one day and risk-off the next.
Surveys suggest that investors are willing to take riskier bets at the moment but are being constrained by concerns that growth in the global economy is vulnerable.
At Bursa Malaysia, the one-day spurt was not enough to recoup the losses sustained by investors on Monday and Tuesday. Over those past two days, a total of RM28.27 billion was wiped out from the market capitalisation which saw it reduced to RM1.299 trillion.
Sentiment at Bursa Malaysia was underpinned by the positive news flows, though analysts described them as not very exciting.
CLSA Research said investors who attended the 7th Invest Malaysia conference on Tuesday were disappointed. Apparently investors were expecting Prime Minister Datuk Seri Najib Razak to make a slew of 'market-moving' announcements during his keynote address.
However, this did not materialise and benchmark FBMKLCI was down 1.1% to 1,526.
'We are not too concerned on the lack of news flow or announcements during this conference. News flow and announcements tend to drive share price performance only for the near term. We prefer to remain focused on Malaysia's longer term structural growth prospects,' CLSA Research said.
Among the top gainers were BAT, up 56 sen to RM48, Petronas Chemicals 31 sen to RM7.36, Nestle 20 sen to RM48 and Shell 18 sen to RM11.08.
HL Bank added 18 sen to RM10.58, Mudajaya and KLCCP 16 sen each to RM4.82 and RM3.36 while Tradewinds advanced 14 sen to RM7.79.
Digistar was the most active with 27.69 million shares done, unchanged at 37 sen. E&O rose nine sen to RM1.26 after its masterplan to reclaim and develop property in Penang was approved.
Petronas Dagangan was the top loser, down 12 sen to RM16.20. Ho Hup shed nine sen to 69 sen, while heavyweights Sime Darby and Public Bank gave up six sen each to RM9.11 and RM13.
Top Glove lost nine sen to RM4.96 with four million shares done. It had earlier said that it expected four new plants with 80 lines, costing RM160 million, to be completed by August this year.
No comments:
Post a Comment