KUALA LUMPUR: Asian stock markets were mixed on Friday, June 3 on the back of a weaker overnight close at Wall Street and European as a slew of grim economic data in the US raised new uncertainties as to the health of the global economy.
The FBM KLCI edged up 1.69 points to 1,559.73 at 10am.
Gainers led losers by 189 to 145, while 212 counters traded unchanged. Volume was 116.53 million shares valued at RM146.02 million.
At the regional markets, Japans' Nikkei 225 fell 0.32% to 9,524.17, Singapore's Straits Times Index lost 0.21% to 3,153.85 and South Korea's Kospi shed 0.13% to 2,111.50.
Meanwhile, Hong Kongs' Hang Seng Index edged up 0.06% to 23,268.72, the Shanghai Composite Index added 0.20% to 2,710.68 and Taiwan's Taiex gained 0.22% to 9,011.38.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients June 3 said that due to the world markets' poor tone last night, there could be some volatility in the local bourse today.
'We expect the FBM KLCI to remain volatile today, as it may be adversely be affected by the US and regional markets.
'Investors should trade the local market with a short-to-medium term time frame,' he said.
Lee said that despite the recent global volatility, the FBM KLCI had gone up in a small way.
'The question investors will ask is that how long can the index do this in the face of global adversity,' he said.
On Bursa Malaysia, Tradewinds was the top gainer at mid-morning and rose 30 sen to RM9.10; HLFG and IJM Corp gained 12 sen each to RM12.18 and RM6.30, BLD PLANTATION []s 11 sen to RM6.05, Malayan Flour Mills 10 sen to RM7.95, Bursa and Paramount seven each to 7.69 and RM5.89, Ark 6.5 sen to 63 sen and KLK six sen to RM22.06.
SAAG was the most actively traded counter with 14.85 million shares done. The stock shed half a sen to 7.5 sen.
Other actives included HWGB, Sime, MAS, Smartag and Iris Corp.
Among the decliners, Petronas Gas fell 30 sen to RM11.68, Kossan 11 sen to RM3.04, TexCycle 5.5 sen to 30.5 sen, while Puncak Niaga, MMHE, SapuraCrest, Uzma, PBA and Maxis fell five sen each to RM2.10, RM7.80, RM4, RM1.98, RM1.05 and RM5.48 respectively.
The FBM KLCI edged up 1.69 points to 1,559.73 at 10am.
Gainers led losers by 189 to 145, while 212 counters traded unchanged. Volume was 116.53 million shares valued at RM146.02 million.
At the regional markets, Japans' Nikkei 225 fell 0.32% to 9,524.17, Singapore's Straits Times Index lost 0.21% to 3,153.85 and South Korea's Kospi shed 0.13% to 2,111.50.
Meanwhile, Hong Kongs' Hang Seng Index edged up 0.06% to 23,268.72, the Shanghai Composite Index added 0.20% to 2,710.68 and Taiwan's Taiex gained 0.22% to 9,011.38.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients June 3 said that due to the world markets' poor tone last night, there could be some volatility in the local bourse today.
'We expect the FBM KLCI to remain volatile today, as it may be adversely be affected by the US and regional markets.
'Investors should trade the local market with a short-to-medium term time frame,' he said.
Lee said that despite the recent global volatility, the FBM KLCI had gone up in a small way.
'The question investors will ask is that how long can the index do this in the face of global adversity,' he said.
On Bursa Malaysia, Tradewinds was the top gainer at mid-morning and rose 30 sen to RM9.10; HLFG and IJM Corp gained 12 sen each to RM12.18 and RM6.30, BLD PLANTATION []s 11 sen to RM6.05, Malayan Flour Mills 10 sen to RM7.95, Bursa and Paramount seven each to 7.69 and RM5.89, Ark 6.5 sen to 63 sen and KLK six sen to RM22.06.
SAAG was the most actively traded counter with 14.85 million shares done. The stock shed half a sen to 7.5 sen.
Other actives included HWGB, Sime, MAS, Smartag and Iris Corp.
Among the decliners, Petronas Gas fell 30 sen to RM11.68, Kossan 11 sen to RM3.04, TexCycle 5.5 sen to 30.5 sen, while Puncak Niaga, MMHE, SapuraCrest, Uzma, PBA and Maxis fell five sen each to RM2.10, RM7.80, RM4, RM1.98, RM1.05 and RM5.48 respectively.
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