KUALA LUMPUR: ''The FBM KLCI ended the first half of 2011 at a fresh historic high as key blue chips lifted the index in late trading on Thursday, June 30, in line with the gains at key regional markets.
The 30-stock index rose 0.26% or 4.06 points to 1,579.07, taking its year-to-date gains to 3.96% and making it the third best performer among regional markets behind Indonesia and New Zealand.
Gainers led losers by 399 to 325, while 329 counters traded unchanged. Volume was 947.61 million shares.
Asian markets mostly rose as Greece's parliament was set to approve a final austerity bill needed to secure 12 billion euros (US$17 billion) of international aid later in the day after Wednesday's success in passing the first hurdle, according Reuters.
Athens's latest efforts helped remove some near-term uncertainty in the market, offering some respite to a quarter when global equities and commodities suffered losses, it said.
At the regional markets, Hong Kong's Hang Seng Index rose 1.53% to 22,398.10, Singapore's Straits Times Index added 1.32% to 3,120.44, the Shanghai Composite Index was up 1.23% to 2,762.08, Taiwan's Taiex added 0.92% to 8,652.59, South Korea's Kopsi gained 0.30% to 2,100.69 while Japan's Nikkei 225 edged up 0.19% to 9,816.09.
BIMB Securities Research in its 2H2011 outlook report said that with the US and Euro-zone both having their fair share of problems, Asia was becoming the most plausible destination for many global investors.
Be it a flight to safety or flight to quality, global managers would certainly contemplate Asia as a viable avenue to park their funds, it said.
However, BIMB Research said its over-ridding concern was that valuations may not be as compelling anymore, adding that while upside should remain intact this could be curtailed by earnings growth concern.
'Since earnings visibility is of utmost importance, we remain hopeful on sectors like banking, CONSTRUCTION [] and oil & gas benefitting from ongoing capital expenditure.
'As for stock selection, we envisaged big caps to lead the way. We have a new FBMKLCI target at 1,680 by end-2011 premised on market PE of 17 times,' it said.
On Bursa Malaysia, PETRONAS DAGANGAN BHD [] added 12 sen to RM16.10, PETRONAS GAS BHD [] up four sen to RM13.22 and Petronas Chemicals Group Bhd up three sen to RM7.09.
Among banks, HONG LEONG BANK BHD [] added 28 sen to RM13.38, HONG LEONG FINANCIAL GROUP BHD [] eight sen to RM13.18, PUBLIC BANK BHD [] six sen to RM13.30 and RHB CAPITAL BHD [] five sen to RM9.16.
Other gainers included BRITISH AMERICAN TOBACCO (M) [] Bhd, United PLANTATION []s Bhd, MALAYAN FLOUR MILLS BHD [], DIGI.COM BHD [], BOUSTEAD HOLDINGS BHD [] and BERJAYA SPORTS TOTO BHD [].
COMPUGATES HOLDINGS BHD [] was the most actively traded counter 54.62 million shares done. The stock was unchanged at 6.5 sen. Other actives included CIMB Group Holdings Bhd, Axiata Group Bhd, Petronas Chemicals and KURNIA ASIA BHD [].
Decliners included MALPAC HOLDINGS BHD [], NWP HOLDINGS BHD [], TRADEWINDS (M) BHD [], CONCRETE ENGINEERING PRODUCTS [] Bhd, IRE-TEX CORPORATION BHD [] and NESTLE (M) BHD [].
The 30-stock index rose 0.26% or 4.06 points to 1,579.07, taking its year-to-date gains to 3.96% and making it the third best performer among regional markets behind Indonesia and New Zealand.
Gainers led losers by 399 to 325, while 329 counters traded unchanged. Volume was 947.61 million shares.
Asian markets mostly rose as Greece's parliament was set to approve a final austerity bill needed to secure 12 billion euros (US$17 billion) of international aid later in the day after Wednesday's success in passing the first hurdle, according Reuters.
Athens's latest efforts helped remove some near-term uncertainty in the market, offering some respite to a quarter when global equities and commodities suffered losses, it said.
At the regional markets, Hong Kong's Hang Seng Index rose 1.53% to 22,398.10, Singapore's Straits Times Index added 1.32% to 3,120.44, the Shanghai Composite Index was up 1.23% to 2,762.08, Taiwan's Taiex added 0.92% to 8,652.59, South Korea's Kopsi gained 0.30% to 2,100.69 while Japan's Nikkei 225 edged up 0.19% to 9,816.09.
BIMB Securities Research in its 2H2011 outlook report said that with the US and Euro-zone both having their fair share of problems, Asia was becoming the most plausible destination for many global investors.
Be it a flight to safety or flight to quality, global managers would certainly contemplate Asia as a viable avenue to park their funds, it said.
However, BIMB Research said its over-ridding concern was that valuations may not be as compelling anymore, adding that while upside should remain intact this could be curtailed by earnings growth concern.
'Since earnings visibility is of utmost importance, we remain hopeful on sectors like banking, CONSTRUCTION [] and oil & gas benefitting from ongoing capital expenditure.
'As for stock selection, we envisaged big caps to lead the way. We have a new FBMKLCI target at 1,680 by end-2011 premised on market PE of 17 times,' it said.
On Bursa Malaysia, PETRONAS DAGANGAN BHD [] added 12 sen to RM16.10, PETRONAS GAS BHD [] up four sen to RM13.22 and Petronas Chemicals Group Bhd up three sen to RM7.09.
Among banks, HONG LEONG BANK BHD [] added 28 sen to RM13.38, HONG LEONG FINANCIAL GROUP BHD [] eight sen to RM13.18, PUBLIC BANK BHD [] six sen to RM13.30 and RHB CAPITAL BHD [] five sen to RM9.16.
Other gainers included BRITISH AMERICAN TOBACCO (M) [] Bhd, United PLANTATION []s Bhd, MALAYAN FLOUR MILLS BHD [], DIGI.COM BHD [], BOUSTEAD HOLDINGS BHD [] and BERJAYA SPORTS TOTO BHD [].
COMPUGATES HOLDINGS BHD [] was the most actively traded counter 54.62 million shares done. The stock was unchanged at 6.5 sen. Other actives included CIMB Group Holdings Bhd, Axiata Group Bhd, Petronas Chemicals and KURNIA ASIA BHD [].
Decliners included MALPAC HOLDINGS BHD [], NWP HOLDINGS BHD [], TRADEWINDS (M) BHD [], CONCRETE ENGINEERING PRODUCTS [] Bhd, IRE-TEX CORPORATION BHD [] and NESTLE (M) BHD [].
No comments:
Post a Comment