KUALA LUMPUR: The FBM KLCI bounced at the mid-day break on Wednesday, Sept 21, lifted by gains at select blue chips including a resurgent Sime Darby, in line with the gains at most key regional markets.
The FBM KLCI rose 0.75% or 10.57 points to 1,421.21 at 12.30pm, as Asian markets reversed losses from earlier in the day as investors waited for the end later on Wednesday of a Federal Reserve policy meeting expected to announce further steps to stimulate the flagging US economic recovery.
Gainers overtook losers by 281 to 203, while 259 counters traded unchanged. Volume was 360.66 million shares valued at RM528.48 million.
The ringgit strengthened 0.35% to 3.1118 versus the US dollar; crude palm oil futures for the third month delivery fell RM7 per tonne to RM3,060, crude oil shed 14 cents to US$86.78 while gold rose US$8.10 to US$1,811.73.
Hwang DBS Vickers Research (HDBSVR) in a note earlier on Sept 21 said the FBM KLCI could stage a technical rebound on Wednesday after a plunge of 58.5-point or 4.0% since the beginning of last week.
'Still, the benchmark index may struggle to climb above its support-turned-resistance level of 1,415 at the moment,' it said.
At the regional markets, Japan's Nikkei 225 gained 0.41% to 8,757.05, the Shanghai Composite Index rose 2.18% to 2,501.13, South Korea's Kospi up 1.53% to 1,866.15, Taiwan's Taiex gained 0.90% to 7,560.58 and Singapore's Straits Times Index up 0.34% to 2,790.32.
Meanwhile, Hong Kong's Hang Seng Index shed 0.26% to 18,964.83.
On Bursa Malaysia, Sime Darby staged a mild rebound after analysts said the recent battering of the stock -- sparked by concerns about the acquisition of the Eastern & Oriental Bhd (E&O) stake -- was overdone.
Among the gainers, Sime Darby rose 32 sen to RM8.23, Shell and Malayan Flour Mills added 22 sen each to RM9.88 and RM6.90, IJM Corp 17 sen to RM5.16, Tradewinds 15 sen to RM8.65, PPB 14 sen to RM16.72, Hong Leong Industries 12 sen to RM4.05 and Gamuda 11 sen to RM2.87.
BAT was the top loser and fell 36 sen to RM44.14; Panasonic lost 30 sen to RM19.10, Dutch Lady 22 sen to RM19.30, Hong Leong Bank 20 sen to RM10.60, MISC 15 sen to RM6.73, F&N and Petronas Dagangan 10 sen each to RM16.40 and RM16.94, while CI Holdings lost seven sen to RM4.31.
Systech was the most actively traded counter with 24.5 million shares done. The stock fell three sen to 17 sen.
Other actives included TMS, MRCB, Takaso, Flonic, AirAsia, Petronas Chemicals, Digista and SAAG.
The FBM KLCI rose 0.75% or 10.57 points to 1,421.21 at 12.30pm, as Asian markets reversed losses from earlier in the day as investors waited for the end later on Wednesday of a Federal Reserve policy meeting expected to announce further steps to stimulate the flagging US economic recovery.
Gainers overtook losers by 281 to 203, while 259 counters traded unchanged. Volume was 360.66 million shares valued at RM528.48 million.
The ringgit strengthened 0.35% to 3.1118 versus the US dollar; crude palm oil futures for the third month delivery fell RM7 per tonne to RM3,060, crude oil shed 14 cents to US$86.78 while gold rose US$8.10 to US$1,811.73.
Hwang DBS Vickers Research (HDBSVR) in a note earlier on Sept 21 said the FBM KLCI could stage a technical rebound on Wednesday after a plunge of 58.5-point or 4.0% since the beginning of last week.
'Still, the benchmark index may struggle to climb above its support-turned-resistance level of 1,415 at the moment,' it said.
At the regional markets, Japan's Nikkei 225 gained 0.41% to 8,757.05, the Shanghai Composite Index rose 2.18% to 2,501.13, South Korea's Kospi up 1.53% to 1,866.15, Taiwan's Taiex gained 0.90% to 7,560.58 and Singapore's Straits Times Index up 0.34% to 2,790.32.
Meanwhile, Hong Kong's Hang Seng Index shed 0.26% to 18,964.83.
On Bursa Malaysia, Sime Darby staged a mild rebound after analysts said the recent battering of the stock -- sparked by concerns about the acquisition of the Eastern & Oriental Bhd (E&O) stake -- was overdone.
Among the gainers, Sime Darby rose 32 sen to RM8.23, Shell and Malayan Flour Mills added 22 sen each to RM9.88 and RM6.90, IJM Corp 17 sen to RM5.16, Tradewinds 15 sen to RM8.65, PPB 14 sen to RM16.72, Hong Leong Industries 12 sen to RM4.05 and Gamuda 11 sen to RM2.87.
BAT was the top loser and fell 36 sen to RM44.14; Panasonic lost 30 sen to RM19.10, Dutch Lady 22 sen to RM19.30, Hong Leong Bank 20 sen to RM10.60, MISC 15 sen to RM6.73, F&N and Petronas Dagangan 10 sen each to RM16.40 and RM16.94, while CI Holdings lost seven sen to RM4.31.
Systech was the most actively traded counter with 24.5 million shares done. The stock fell three sen to 17 sen.
Other actives included TMS, MRCB, Takaso, Flonic, AirAsia, Petronas Chemicals, Digista and SAAG.
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