KUALA LUMPUR: The FBM KLCI erased its earlier losses on Friday, April 8 and rose slightly at mid-morning, in line with most key regional markets that shrugged off worries of the effects of a strong aftershock in Japan last night.
The FBM KLCI was up 1.39 points to 1,563.32 at 10am.
Gainers led losers by 252 to 189, while 260 counters traded unchanged. Volume was 327.16 million shares valued at RM299.05 million.
Asian shares inched up on Friday, as it appeared a strong aftershock in Japan's earthquake-ravaged northeast that hit U.S. and European markets had not done major damage, according to Reuters.
The euro retreated from 14-month highs after the European Central Bank's widely expected interest rate rise and a broad sell-off in the yen stalled, it said.
At the regional markets, Japan's Nikkei 225 was up 0.91% to 9,678.68, Hong Kong's Hang Seng Index added 0.14% to 24,315.19, South Korea's Kospi rose 0.46% to 2,131.91 and Taiwan's Taiex edged up 0.05% to 8,906.02.
Meanwhile, the Shanghai Composite Index fell 0.17% to 3,002.65 and Singapore's Straits Times Index was 0.02% lower at 3,170.92.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on April 8 said that due to the DJIA's marginally weaker tone last night, the FBM KLCI could be in a mild profit-taking mode today.
However, there appears to be firm bargain hunting activities ahead of Invest Malaysia 2011 on April 12 and 13. A recent high of 1,565.53 (April 4, 2011) could have been seen and a minor retracement phase may emerge.
'However, it is vital to hold above 1,529.41. Failure to do so would result in further range trading between 1,474 & 1,576,' he said.
The top gainer at mid-morning was Panasonic that rose 70 sen to RM24; DiGi was up 34 sen to RM29.68, Carlsberg 17 sen to RM8, Hong Leong Bank 16 sen to RM10.56, Shell 14 sen to RM10.92, while BHIC and Hai-O added 13 sen each to RM4.70 and RM2.38.
MAA was the most actively traded counter with 23.8 million shares done. The stock added 12 sen to RM1.50.
Other actives included Tat Giap, Ramunia, Iris, JCY International and Time.
Decliners included Nestle, BAT, Goldis, Jaya Tiasa, Coastal, MPHB, CMMT, Batu Kawan and Pintaras.
The FBM KLCI was up 1.39 points to 1,563.32 at 10am.
Gainers led losers by 252 to 189, while 260 counters traded unchanged. Volume was 327.16 million shares valued at RM299.05 million.
Asian shares inched up on Friday, as it appeared a strong aftershock in Japan's earthquake-ravaged northeast that hit U.S. and European markets had not done major damage, according to Reuters.
The euro retreated from 14-month highs after the European Central Bank's widely expected interest rate rise and a broad sell-off in the yen stalled, it said.
At the regional markets, Japan's Nikkei 225 was up 0.91% to 9,678.68, Hong Kong's Hang Seng Index added 0.14% to 24,315.19, South Korea's Kospi rose 0.46% to 2,131.91 and Taiwan's Taiex edged up 0.05% to 8,906.02.
Meanwhile, the Shanghai Composite Index fell 0.17% to 3,002.65 and Singapore's Straits Times Index was 0.02% lower at 3,170.92.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on April 8 said that due to the DJIA's marginally weaker tone last night, the FBM KLCI could be in a mild profit-taking mode today.
However, there appears to be firm bargain hunting activities ahead of Invest Malaysia 2011 on April 12 and 13. A recent high of 1,565.53 (April 4, 2011) could have been seen and a minor retracement phase may emerge.
'However, it is vital to hold above 1,529.41. Failure to do so would result in further range trading between 1,474 & 1,576,' he said.
The top gainer at mid-morning was Panasonic that rose 70 sen to RM24; DiGi was up 34 sen to RM29.68, Carlsberg 17 sen to RM8, Hong Leong Bank 16 sen to RM10.56, Shell 14 sen to RM10.92, while BHIC and Hai-O added 13 sen each to RM4.70 and RM2.38.
MAA was the most actively traded counter with 23.8 million shares done. The stock added 12 sen to RM1.50.
Other actives included Tat Giap, Ramunia, Iris, JCY International and Time.
Decliners included Nestle, BAT, Goldis, Jaya Tiasa, Coastal, MPHB, CMMT, Batu Kawan and Pintaras.
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