KUALA LUMPUR: The FBM KLCI edged up at mid-morning on Wednesday, Aug 17 amidst cautious trade as key regional markets were mixed following the weaker overnight close at Wall Street.
Also weighing heavily on investors' sentiment at the local bourse was Malaysia's economic growth in the second quarter, which is slated to be announced later in the day.
Asian shares fell on Wednesday and the euro wobbled after French and German leaders failed to deliver a solution to the euro zone debt crisis and restore investor confidence after a global market rout, according to Reuters.
Late on Tuesday, computer maker Dell slashed its sales forecast for 2012, a deeply bearish signal not only for the health of global demand but for other hi-tech manufacturers, many of which are listed in Tokyo and Seoul, it said.
The FBM KLCI edged up 2.61 points to 1,500.85 at 10am.
Gainers led losers by 186 to 133, while 174 counters traded unchanged. Volume was 162.38 million shares valued at RM183.96 million.
At the regional markets, Japan's Nikkei 225 fell 1.01% to 9,015.54, Taiwan's Taiex slipped 0.44% to 7,764.44 and South Korea's Kopsi shed 0.18% to 1,876.42.
Meanwhile, Hong Kongs' Hang Seng Index rose 0.96% to 20,405.89, Singapore's Straits Times Index added 0.38% to 2,843.43 and the Shanghai Composite Index edged up 0.21% to 2,613.69.
Maybank Investment Bank Bhd's head of retail research and chief chartist Lee Cheng Hooi said the FBM KLCI's resistance areas of 1,498 and 1,515 would cap market gains, whilst the weaker support areas are located at 1,454 and 1,486.
'Due to the US markets' fall last night, we will see some volatile trading activities in the local bourse today.
'Some heavy profit-taking and liquidation activities will persist to depress the markets' rebound from its recent 1,423.47 low. We see a longer-term decline for the local and foreign indices,' he said in a note to clients on Aug 17.
On Bursa Malaysia, KLK rose 38 sen to RM38 sen to RM21.48, Kenmark 18 sen to RM1.25, Batu Kawan and Allianz 14 sen each to RM16 and RM4.84, HLFG and Bernas 12 sen each to RM12.30 and RM2.79, while Catcha Media and Tradewinds gained 10 sen each to 81 sen and RM8.85.
Sindora rose 27 sen to RM2.92 with 678,000 shares traded after Kulim Bhd, which owns 74.99% of Sindora, ''offered RM3 per share in its proposed takeover of the company for the remaining 25.01%.
The RM3 offer price was a premium of 35 sen over the last traded price of RM2.65 before Sindora was suspended at midday on Monday.
Among the decliners, Ta Ann fell 17 sen to RM5.23, MPI 12 sen to RM3.65, Malayan Flour Mills 11 sen to RM7.58, JT International nine sen to RM6.81, Sunchirin eight sen to RM1.50, Esso six sen to RM4.28 and UMW five sen to RM7.20.
The actives included Eduspec, Sanichi, DVM, Peterlabs,MNC, Dialog, AirAsia and Catcha Media.
Also weighing heavily on investors' sentiment at the local bourse was Malaysia's economic growth in the second quarter, which is slated to be announced later in the day.
Asian shares fell on Wednesday and the euro wobbled after French and German leaders failed to deliver a solution to the euro zone debt crisis and restore investor confidence after a global market rout, according to Reuters.
Late on Tuesday, computer maker Dell slashed its sales forecast for 2012, a deeply bearish signal not only for the health of global demand but for other hi-tech manufacturers, many of which are listed in Tokyo and Seoul, it said.
The FBM KLCI edged up 2.61 points to 1,500.85 at 10am.
Gainers led losers by 186 to 133, while 174 counters traded unchanged. Volume was 162.38 million shares valued at RM183.96 million.
At the regional markets, Japan's Nikkei 225 fell 1.01% to 9,015.54, Taiwan's Taiex slipped 0.44% to 7,764.44 and South Korea's Kopsi shed 0.18% to 1,876.42.
Meanwhile, Hong Kongs' Hang Seng Index rose 0.96% to 20,405.89, Singapore's Straits Times Index added 0.38% to 2,843.43 and the Shanghai Composite Index edged up 0.21% to 2,613.69.
Maybank Investment Bank Bhd's head of retail research and chief chartist Lee Cheng Hooi said the FBM KLCI's resistance areas of 1,498 and 1,515 would cap market gains, whilst the weaker support areas are located at 1,454 and 1,486.
'Due to the US markets' fall last night, we will see some volatile trading activities in the local bourse today.
'Some heavy profit-taking and liquidation activities will persist to depress the markets' rebound from its recent 1,423.47 low. We see a longer-term decline for the local and foreign indices,' he said in a note to clients on Aug 17.
On Bursa Malaysia, KLK rose 38 sen to RM38 sen to RM21.48, Kenmark 18 sen to RM1.25, Batu Kawan and Allianz 14 sen each to RM16 and RM4.84, HLFG and Bernas 12 sen each to RM12.30 and RM2.79, while Catcha Media and Tradewinds gained 10 sen each to 81 sen and RM8.85.
Sindora rose 27 sen to RM2.92 with 678,000 shares traded after Kulim Bhd, which owns 74.99% of Sindora, ''offered RM3 per share in its proposed takeover of the company for the remaining 25.01%.
The RM3 offer price was a premium of 35 sen over the last traded price of RM2.65 before Sindora was suspended at midday on Monday.
Among the decliners, Ta Ann fell 17 sen to RM5.23, MPI 12 sen to RM3.65, Malayan Flour Mills 11 sen to RM7.58, JT International nine sen to RM6.81, Sunchirin eight sen to RM1.50, Esso six sen to RM4.28 and UMW five sen to RM7.20.
The actives included Eduspec, Sanichi, DVM, Peterlabs,MNC, Dialog, AirAsia and Catcha Media.
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