KUALA LUMPUR: ''The FBM KLCI stayed in positive territory at the mid-day break on Friday, May 20 but gave up some of its earlier gains as some mild pre-weekend profit taking emerged.
The FBM KLCI was up 0.08% or 1.29 points to 1,545.31 at the mid-day break, down from its intra-morning high of 1,547.94.
Gainers edged losers by 325 to 306, while 292 counters traded unchanged. Volume was 466.12 million shares valued at RM564.64 million.
The ringgit strengthened 0.45% to 3.0155 versus the US dollar; crude palm oil for the third month delivery rose RM12 per tonne to RM3,372, crude oil added 38 cents per barrel to US$98.82 while gold gained US$3.02 an ounce to US$1,496.38.
OSK Research in its 1Q2011 'half-time' results review said that so far, with 41% of its Malaysian coverage reporting results, earnings have been largely within its expectations with 70% of companies reporting profits that were in-line.
While Big Caps continued to outperform on fundamentals with 92% reporting results that were either above or within expectations versus 76% for Small Caps, this was still the best quarter thus far for Small Caps in a Year whereby there were more Upgrades than Downgrades for Small Caps at half time, it said on May 20.
'With the Upgrade to Downgrade ratio standing at 1.3x currently, even if there is some slippage towards the end of the season, we expect this should give enough fundamental reason for the KLCI to trundle upwards and end the month with positive gains.
'We maintain our year end KLCI target of 1,680 points while for May, we continue to recommend buying Big Caps and trading Property counters,' it said.
On Bursa Malaysia this morning, Dutch Lady was the top gainer and rose 62 sen to RM18.46; PPB was'' up 52 sen to RM17.64, F&N 28 sen to RM19.58, Tradewinds 26 sen to RM10.54, Tradewinds PLANTATION [] 21 sen to RM4.03, RHB Capital 20 sen to RM9.30, KLK 18 sen to RM21.98, DKSH 13 sen to RM1.38 and Panasonic was up 10 sen to RM23.30.
Jotech was the most actively traded counter with 21.75 million shares traded. The counter gained one sen to 14 sen.
Other actives included DBE Gurney, Malton, Asia Media, Digistar, Ideal Jacobs and Karambunai.
Among the decliners, Nestle fell 56 sen to RM47.40, Tasek down 30 sen to RM7.60, Nilai 29 sen to 59 sen, BAT 24 sen to RM46.12, Metrod 22 sen to RM3.60, while JobStreet, Guan Chong and Pharmaniaga fell 10 sen each to RM2.70, RM2.97 and RM5.90 respectively.
At the regional markets, Japan's Nikkei 225 and the Shanghai Composite Index rose 0.07% each to 9,627.72 and 2,861.68, Hong Kong's Hang Seng Index added 0.10% to 23,187.13 and South Korea's Kospi was up 0.72% to 2,110.52.
The FBM KLCI was up 0.08% or 1.29 points to 1,545.31 at the mid-day break, down from its intra-morning high of 1,547.94.
Gainers edged losers by 325 to 306, while 292 counters traded unchanged. Volume was 466.12 million shares valued at RM564.64 million.
The ringgit strengthened 0.45% to 3.0155 versus the US dollar; crude palm oil for the third month delivery rose RM12 per tonne to RM3,372, crude oil added 38 cents per barrel to US$98.82 while gold gained US$3.02 an ounce to US$1,496.38.
OSK Research in its 1Q2011 'half-time' results review said that so far, with 41% of its Malaysian coverage reporting results, earnings have been largely within its expectations with 70% of companies reporting profits that were in-line.
While Big Caps continued to outperform on fundamentals with 92% reporting results that were either above or within expectations versus 76% for Small Caps, this was still the best quarter thus far for Small Caps in a Year whereby there were more Upgrades than Downgrades for Small Caps at half time, it said on May 20.
'With the Upgrade to Downgrade ratio standing at 1.3x currently, even if there is some slippage towards the end of the season, we expect this should give enough fundamental reason for the KLCI to trundle upwards and end the month with positive gains.
'We maintain our year end KLCI target of 1,680 points while for May, we continue to recommend buying Big Caps and trading Property counters,' it said.
On Bursa Malaysia this morning, Dutch Lady was the top gainer and rose 62 sen to RM18.46; PPB was'' up 52 sen to RM17.64, F&N 28 sen to RM19.58, Tradewinds 26 sen to RM10.54, Tradewinds PLANTATION [] 21 sen to RM4.03, RHB Capital 20 sen to RM9.30, KLK 18 sen to RM21.98, DKSH 13 sen to RM1.38 and Panasonic was up 10 sen to RM23.30.
Jotech was the most actively traded counter with 21.75 million shares traded. The counter gained one sen to 14 sen.
Other actives included DBE Gurney, Malton, Asia Media, Digistar, Ideal Jacobs and Karambunai.
Among the decliners, Nestle fell 56 sen to RM47.40, Tasek down 30 sen to RM7.60, Nilai 29 sen to 59 sen, BAT 24 sen to RM46.12, Metrod 22 sen to RM3.60, while JobStreet, Guan Chong and Pharmaniaga fell 10 sen each to RM2.70, RM2.97 and RM5.90 respectively.
At the regional markets, Japan's Nikkei 225 and the Shanghai Composite Index rose 0.07% each to 9,627.72 and 2,861.68, Hong Kong's Hang Seng Index added 0.10% to 23,187.13 and South Korea's Kospi was up 0.72% to 2,110.52.
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