KUALA LUMPUR: The FBM KLCI rose above the crucial 1,530-point level at mid-morning on Wednesday, May 11, in line with the generally positive but cautious sentiment at key regional markets following the slightly firmer overnight close at Wall Street.
At 10am, the FBM KLCI was up 9.18 points to 1,532.55, lifted by gains at select blue chip stocks.
Gainers led losers by 334 to 85, while 197 counters traded unchanged. Volume was 171.82 million shares valued at RM179.63 million.
At the regional markets, Japan's Nikkei 225 rose 0.50% to 9,868.20, Hong Kong's Hang Seng Index added 0.38% to 23,423.53, the Shanghai Composite Index edged up 0.08% to 2,892.91, Taiwan's Taiex rose 0.04% to 9,026.94, South Korea's Kospi was up 0.79% to 2,155.98 while Singapore's Straits Times Index gained 0.38% to 3,168.28.
Analysts however said trading on Bursa Malaysia would be subdued.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi said that due to the rebound on Wall Street last night, the FBM KLCI would be in yet another benign upward mode today.
'We expect the FBM KLCI to remain steady today in a quiet and low volume session. The trading tone would be slow, sluggish and boring,' he said in a note to clients May 11.
BIMB Securities Research meanwhile said it anticipate another lacklustre trading day on the local bourse.
'Despite the recent uptrend, investors are expected to remain on the sideline. Regardless of the rebound seen on Wall Street, we expect trading activities on Bursa to remain dull in the absence of any catalysts.
'Hikes in the BLR by Maybank and RHB following the recent increase in the OPR are not expected to hamper loans growth hence financing activities going forward. For the KLCI, we expect some downward bias with the immediate support at the psychological 1,500 level,' it said.
The top gainer on Bursa Malaysia at mid-morning was Panasonic that added 70 sen to RM23.50; Hong Leong Bank rose 46 sen to RM11.96, HLFG 40 sen to RM11.54, Batu Kawan 32 sen to RM16.30, Sime Darby 21 sen to RM9.05, Shell 20 sen to RM11.04, Malayan Flour 19 sen to RM6.61, PPB 18 sen to RM16.78, Harrisons 17 sen to RM3.96 and Kian Joo 15 sen to RM2.23.
Digistar was the most actively traded counter at mid-morning. The stock added 2.5 sen to 43 sen with 7.47 million shares done.
Other actives included Ramunia, Mclean, Iris Corp, Dialog and HWGB.
Decliners included BAT, F&N, Hap Seng, Far East, DiGi, Kretam and KBES .
At 10am, the FBM KLCI was up 9.18 points to 1,532.55, lifted by gains at select blue chip stocks.
Gainers led losers by 334 to 85, while 197 counters traded unchanged. Volume was 171.82 million shares valued at RM179.63 million.
At the regional markets, Japan's Nikkei 225 rose 0.50% to 9,868.20, Hong Kong's Hang Seng Index added 0.38% to 23,423.53, the Shanghai Composite Index edged up 0.08% to 2,892.91, Taiwan's Taiex rose 0.04% to 9,026.94, South Korea's Kospi was up 0.79% to 2,155.98 while Singapore's Straits Times Index gained 0.38% to 3,168.28.
Analysts however said trading on Bursa Malaysia would be subdued.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi said that due to the rebound on Wall Street last night, the FBM KLCI would be in yet another benign upward mode today.
'We expect the FBM KLCI to remain steady today in a quiet and low volume session. The trading tone would be slow, sluggish and boring,' he said in a note to clients May 11.
BIMB Securities Research meanwhile said it anticipate another lacklustre trading day on the local bourse.
'Despite the recent uptrend, investors are expected to remain on the sideline. Regardless of the rebound seen on Wall Street, we expect trading activities on Bursa to remain dull in the absence of any catalysts.
'Hikes in the BLR by Maybank and RHB following the recent increase in the OPR are not expected to hamper loans growth hence financing activities going forward. For the KLCI, we expect some downward bias with the immediate support at the psychological 1,500 level,' it said.
The top gainer on Bursa Malaysia at mid-morning was Panasonic that added 70 sen to RM23.50; Hong Leong Bank rose 46 sen to RM11.96, HLFG 40 sen to RM11.54, Batu Kawan 32 sen to RM16.30, Sime Darby 21 sen to RM9.05, Shell 20 sen to RM11.04, Malayan Flour 19 sen to RM6.61, PPB 18 sen to RM16.78, Harrisons 17 sen to RM3.96 and Kian Joo 15 sen to RM2.23.
Digistar was the most actively traded counter at mid-morning. The stock added 2.5 sen to 43 sen with 7.47 million shares done.
Other actives included Ramunia, Mclean, Iris Corp, Dialog and HWGB.
Decliners included BAT, F&N, Hap Seng, Far East, DiGi, Kretam and KBES .
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