KUALA LUMPUR: The FBM KLCI snapped its four-day losing streak on Friday, June 10 and was in positive territory at mid-morning, in line with the gains at most key regional markets.
Japan's Nikkei 225 rose more than 1% following the overnight gains at Wall Street, but analysts said trading would remain choppy on the local market.
The FBM KLCI added 4.30 points to 1,555.19 at 10am, with gains including at Genting, BAT, Petronas Gas and Hong Leong Bank.
Gainers edged losers by 208 to 134, while 215 counters traded unchanged. Volume was 179.51 million shares valued at RM156.91 million.
At the regional markets, the Nikkei 225 rose 1.25% to 9,585.59, Singapore's Straits Times Index was up 0.23% to 3,104.84, South Korea's Kospi added 0.17% to 2,074.99, and Hong Kong's Hang Seng Index edged up 0.02% to 22,613.24.
Meanwhile, the Shanghai Composite Index shed 0.23% to 2,697.07 and Taiwan's Taiex lost 0.19% to 8,983.84.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients June 10 said that despite the world markets' firmer tone last night, trading activities on the local bourse would be boring and of low volume.
'We expect the FBM KLCI to remain quiet today, as the initial gains (following the American market's rise last night) could be curtailed by the pre-weekend profit taking activities in the latter part of the day.
'Investors should trade the local market with a short-to-medium term time frame,' he said.
Among the gainers at mid-morning, Genting, BAT and MMHE rose 14 sen each to RM11.24, RM46.38 and RM8.61 respectively, Cycle & Carriage and Petronas Gas added 12 sen each to RM4.62 and RM11.78, Petronas Chemicals 11 sen to RM7.08, Hong Leong Bank 10 sen to RM12.94, HPI and MISC nine sen each to RM3.37 and RM7.05, while DiGi was up eight sen to RM28.90.
Mobile virtual network operator XOX Group Bhd, which made its debut on the ACE Market today, was the top loser and fell 16 sen to 64 sen with 12.81 million shares traded.
Top Glove fell nine sen to RM5.31, Glenealy down eight sen to RM5.62, Hap Seng six sen to RM5.28, while Carlsberg, CBIP, Yinson, Supermax and Naim fell five sen each to RM7.51, RM4.10, RM1.67, RM3.87 and RM2.45 respectively.
The actively traded stocks included Focus, MAA, SAAG, Key West, Smartag, HWGB amd Kencana.
Japan's Nikkei 225 rose more than 1% following the overnight gains at Wall Street, but analysts said trading would remain choppy on the local market.
The FBM KLCI added 4.30 points to 1,555.19 at 10am, with gains including at Genting, BAT, Petronas Gas and Hong Leong Bank.
Gainers edged losers by 208 to 134, while 215 counters traded unchanged. Volume was 179.51 million shares valued at RM156.91 million.
At the regional markets, the Nikkei 225 rose 1.25% to 9,585.59, Singapore's Straits Times Index was up 0.23% to 3,104.84, South Korea's Kospi added 0.17% to 2,074.99, and Hong Kong's Hang Seng Index edged up 0.02% to 22,613.24.
Meanwhile, the Shanghai Composite Index shed 0.23% to 2,697.07 and Taiwan's Taiex lost 0.19% to 8,983.84.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients June 10 said that despite the world markets' firmer tone last night, trading activities on the local bourse would be boring and of low volume.
'We expect the FBM KLCI to remain quiet today, as the initial gains (following the American market's rise last night) could be curtailed by the pre-weekend profit taking activities in the latter part of the day.
'Investors should trade the local market with a short-to-medium term time frame,' he said.
Among the gainers at mid-morning, Genting, BAT and MMHE rose 14 sen each to RM11.24, RM46.38 and RM8.61 respectively, Cycle & Carriage and Petronas Gas added 12 sen each to RM4.62 and RM11.78, Petronas Chemicals 11 sen to RM7.08, Hong Leong Bank 10 sen to RM12.94, HPI and MISC nine sen each to RM3.37 and RM7.05, while DiGi was up eight sen to RM28.90.
Mobile virtual network operator XOX Group Bhd, which made its debut on the ACE Market today, was the top loser and fell 16 sen to 64 sen with 12.81 million shares traded.
Top Glove fell nine sen to RM5.31, Glenealy down eight sen to RM5.62, Hap Seng six sen to RM5.28, while Carlsberg, CBIP, Yinson, Supermax and Naim fell five sen each to RM7.51, RM4.10, RM1.67, RM3.87 and RM2.45 respectively.
The actively traded stocks included Focus, MAA, SAAG, Key West, Smartag, HWGB amd Kencana.
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