KUALA LUMPUR: Key regional markets snapped two days of heavy losses in the afternoon session on Wednesday, April 13, with the FBM KLCI up more than 13 points on some bargain hunting activities.
At 3.18pm, the KLCI was up 13.04 points to 1,538.96 after ekeing out marginal gains in the late morning. Turnover was 820 million shares valued at RM1.02 billion. Advancers beat decliners nearly three to one, with 572 gainers to 199 losers and 223 stocks unchanged.
Reuters reported the yen weakened and Asian stocks headed higher as investors sought fresh opportunities to bet on risky assets after a sharp drop in oil the previous day caused an unwinding of positions.
Crude oil priced edged up after falling about 3% overnight, as the market focus shifted to supply concerns in Libya and upcoming U.S. demand. U.S. stock futures steadily gained in Asia, suggesting the sudden shakeout in bets on equities and higher-yielding currencies may have run its course.
Tokyo's Nikkei finished up 0.9%, with shares of Tokyo Electric surging on heavy volume on a report that its liabilities stemming from Japan's nuclear crisis may be capped. Other utilities stocks slid since they may have to help foot the bill.
At Bursa Malaysia, the positive news flow from the two-day Invest Malaysia conference spurred some buying interest despite some concerns about the Sarawak polls due on April 16.
BAT was the top gainer, up 56 sen to RM48, Petronas Chemicals 27 sen to RM7.32, AMMB 24 sen to RM6.61 and HL Bank 22 sen to RM10.62. Ekovest rose 24 sen to RM3.56, Ta Ann 17 sen to RM6.18 amd Mudajaya 17 sen also to RM4.83.
At 3.18pm, the KLCI was up 13.04 points to 1,538.96 after ekeing out marginal gains in the late morning. Turnover was 820 million shares valued at RM1.02 billion. Advancers beat decliners nearly three to one, with 572 gainers to 199 losers and 223 stocks unchanged.
Reuters reported the yen weakened and Asian stocks headed higher as investors sought fresh opportunities to bet on risky assets after a sharp drop in oil the previous day caused an unwinding of positions.
Crude oil priced edged up after falling about 3% overnight, as the market focus shifted to supply concerns in Libya and upcoming U.S. demand. U.S. stock futures steadily gained in Asia, suggesting the sudden shakeout in bets on equities and higher-yielding currencies may have run its course.
Tokyo's Nikkei finished up 0.9%, with shares of Tokyo Electric surging on heavy volume on a report that its liabilities stemming from Japan's nuclear crisis may be capped. Other utilities stocks slid since they may have to help foot the bill.
At Bursa Malaysia, the positive news flow from the two-day Invest Malaysia conference spurred some buying interest despite some concerns about the Sarawak polls due on April 16.
BAT was the top gainer, up 56 sen to RM48, Petronas Chemicals 27 sen to RM7.32, AMMB 24 sen to RM6.61 and HL Bank 22 sen to RM10.62. Ekovest rose 24 sen to RM3.56, Ta Ann 17 sen to RM6.18 amd Mudajaya 17 sen also to RM4.83.
No comments:
Post a Comment