KUALA LUMPUR: ''The FBM KLCI rebounded in early trade on Tuesday, May 31 in line with the regional markets as TENAGA NASIONAL BHD [] and PETRONAS GAS BHD [] advanced after the government yesterday announced hikes in electricity and gas tariffs.
At 10am, the FBM KLCI rose 6.57 points to 1,549.41. It had earlier risen to a high of 1,551.97.
Gainers led losers by 230 to 177, while 204 counters traded unchanged. Volume was 185.72 million shares valued at RM484.17 million.
At the regional markets, Japan's Nikkei 225 rose 1.16% to 9,615.54, Hong Kong's Hang Seng Index added 0.90%to 23,394.13, the Shanghai Composite Index edged up 0.30% to 2,714.47, Taiwan's Taiex added 1.10% to 8,920.82, South Korea's Kospi gained 1.35% to 2,121.96 and Singapore's Straits Times Index was up 0.27% to 3,148.95.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on May 31 said that due to the world markets' quieter tone yesterday, trading activities could be subdued in the local scene today.
'We expect the FBM KLCI to remain range bound today, as 1,550.62 formed yet another formidable barrier to surpass yesterday.
'Investors should remain cautious and trade the local market with a short-term time frame,' he said.
On Bursa Malaysia, Tenaga was the top gainer at mid-morning and was up 57 sen to RM7.09.
Other gainers included Malayan Flour Mills that rose 43 sen to RM8.09, Petronas Gas 36 sen to RM11.80, F&N 28 sen to RM19.48, MAHB 27 sen to RM6.83, MMHE 21 sen to RM7.68, Cycle & Carriage 17 sen to RM4.72, Tong Herr 15 sen to RM2.60, Delloyd 11 sen to RM3.51 and MISC nine sen to RM6.92.
Among the decliners at mid-morning, Tradewinds fell 46 sen to RM9.74, DiGi 32 sen to RM27.92, Cepco 29 sen to RM1.81, KLK 24 sen to RM21.52, BAT 22 sen to RM45.82, Vitrox and PPB 12 sen each to RM2.01 and RM17.84, BLD PLANTATION []s 11 sen to RM5.23 and Batu Kawan down 10 sen to RM16.20.
Actives included Tenaga, Jotech, Hubline, UEM Land, MAS, HWGB, Focus and Magna.
At 10am, the FBM KLCI rose 6.57 points to 1,549.41. It had earlier risen to a high of 1,551.97.
Gainers led losers by 230 to 177, while 204 counters traded unchanged. Volume was 185.72 million shares valued at RM484.17 million.
At the regional markets, Japan's Nikkei 225 rose 1.16% to 9,615.54, Hong Kong's Hang Seng Index added 0.90%to 23,394.13, the Shanghai Composite Index edged up 0.30% to 2,714.47, Taiwan's Taiex added 1.10% to 8,920.82, South Korea's Kospi gained 1.35% to 2,121.96 and Singapore's Straits Times Index was up 0.27% to 3,148.95.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on May 31 said that due to the world markets' quieter tone yesterday, trading activities could be subdued in the local scene today.
'We expect the FBM KLCI to remain range bound today, as 1,550.62 formed yet another formidable barrier to surpass yesterday.
'Investors should remain cautious and trade the local market with a short-term time frame,' he said.
On Bursa Malaysia, Tenaga was the top gainer at mid-morning and was up 57 sen to RM7.09.
Other gainers included Malayan Flour Mills that rose 43 sen to RM8.09, Petronas Gas 36 sen to RM11.80, F&N 28 sen to RM19.48, MAHB 27 sen to RM6.83, MMHE 21 sen to RM7.68, Cycle & Carriage 17 sen to RM4.72, Tong Herr 15 sen to RM2.60, Delloyd 11 sen to RM3.51 and MISC nine sen to RM6.92.
Among the decliners at mid-morning, Tradewinds fell 46 sen to RM9.74, DiGi 32 sen to RM27.92, Cepco 29 sen to RM1.81, KLK 24 sen to RM21.52, BAT 22 sen to RM45.82, Vitrox and PPB 12 sen each to RM2.01 and RM17.84, BLD PLANTATION []s 11 sen to RM5.23 and Batu Kawan down 10 sen to RM16.20.
Actives included Tenaga, Jotech, Hubline, UEM Land, MAS, HWGB, Focus and Magna.
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