KUALA LUMPUR: Bumi Armada Bhd, which made its much anticipated debut on the Main Market of Bursa Malaysia on Thursday, July 21, started its first trading day on an impressive note, and set the pace at the local bourse at mid-morning.
The FBM KLCI rose 0.55 point to 1,563.14 at 10am,
Gainers however trailed losers by 163 to 185, while 197 counters traded unchanged. Volume was 291.27 million shares valued at RM688.69 million.
Regional markets were tepid given the overnight dip at Wall Street, with the Nikkei 225 down 0.12% to 9,993.63, Hong Kong's Hang Seng Index down 0.20% to 21,958.61, the Shanghai Composite Index shed 0.28% to 2,786.28, Singapore's Straits Times Index down 0.37% to 3,115.06 and South Korea's Kospi lost 0.44% to 2,145.41.
BIMB Securities Research said as the debate on the US debt ceiling rages on, and with no agreement in sight, the equity markets were expected to remain volatile.
Though good corporate earnings may sustain Wall Street, the US' economic health remains as an overriding concern, it said in a note July 21.
'Domestically, we expect the local bourse to remain steadfast although we may see some selling today.
'The latest CPI figure of 3.5% may be a catalyst for another round of interest hike as many believe the 2H11 inflation to be higher. Short term, the FBMKLC's support is seen at the 1,560 level.
Meanwhile, Taiwan's Taiex edged up 0.08% to 8,713.37.
On Bursa Malaysia, Bumi Armada was both the top gainer and most actively traded stock. It jumped 81 sen to RM3.84 with 152.13 million shares done.
BAT rose 46 sen to RM46.40, Nestle 34 sen to RM47.64, PPB 14 sen to RM17.44, MISC 13 sen to RM13 sen to RM7.98, HLFG, MAHB and Cypark gained 12 sen each to RM13.46, RM6.62 and RM1.92 respectively, while Petronas Dagangan and Bursa were up 10 sen each to RM18.30 and RM7.83.
The actives at mid-morning included Ingenuity Solutions, Hubline, Flonic, Iris and Zelan.
Decliners included Batu Kawan, Sindora, Litrak, MSM, TH PLANTATION []s, Huat Lai and KFCH.
The FBM KLCI rose 0.55 point to 1,563.14 at 10am,
Gainers however trailed losers by 163 to 185, while 197 counters traded unchanged. Volume was 291.27 million shares valued at RM688.69 million.
Regional markets were tepid given the overnight dip at Wall Street, with the Nikkei 225 down 0.12% to 9,993.63, Hong Kong's Hang Seng Index down 0.20% to 21,958.61, the Shanghai Composite Index shed 0.28% to 2,786.28, Singapore's Straits Times Index down 0.37% to 3,115.06 and South Korea's Kospi lost 0.44% to 2,145.41.
BIMB Securities Research said as the debate on the US debt ceiling rages on, and with no agreement in sight, the equity markets were expected to remain volatile.
Though good corporate earnings may sustain Wall Street, the US' economic health remains as an overriding concern, it said in a note July 21.
'Domestically, we expect the local bourse to remain steadfast although we may see some selling today.
'The latest CPI figure of 3.5% may be a catalyst for another round of interest hike as many believe the 2H11 inflation to be higher. Short term, the FBMKLC's support is seen at the 1,560 level.
Meanwhile, Taiwan's Taiex edged up 0.08% to 8,713.37.
On Bursa Malaysia, Bumi Armada was both the top gainer and most actively traded stock. It jumped 81 sen to RM3.84 with 152.13 million shares done.
BAT rose 46 sen to RM46.40, Nestle 34 sen to RM47.64, PPB 14 sen to RM17.44, MISC 13 sen to RM13 sen to RM7.98, HLFG, MAHB and Cypark gained 12 sen each to RM13.46, RM6.62 and RM1.92 respectively, while Petronas Dagangan and Bursa were up 10 sen each to RM18.30 and RM7.83.
The actives at mid-morning included Ingenuity Solutions, Hubline, Flonic, Iris and Zelan.
Decliners included Batu Kawan, Sindora, Litrak, MSM, TH PLANTATION []s, Huat Lai and KFCH.
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