KUALA LUMPUR: The FBM KLCI rose on Monday, Oct 17 and was up more than 1% at mid-morning, in line with the gains at key regional markets underpinned hopes over steps to tackle the euro zone debt crisis.
Asian shares rose on Monday and the euro held firm amid hopes that a crucial week for the euro zone crisis will see policymakers finally come up with a comprehensive plan to resolve the region's debt woes and recapitalise its banks, according to Reuters.
The FBM KLCI rose 1.05% or 15.18 points to 1,457.16 at 10am.
Market breadth was positive with 411 gainers and 74 losers, while 161 counters traded unchanged. Volume was 415 million shares valued at RM321.9 million.
At the regional markets, Hong Kong's Hang Seng Index rose 1.77% to 18,829.94, Japan's Nikkei 225 added 1.41% to 8,871.04, South Korea's Kospi added 0.88% to 1,851.64, Taiwan's Taiex up 0.81% to 7,417.99, the Shanghai Composite Index gained 0.50% to 2,443.63 and Singapore's Straits Times Index edged up 0.37% to 2,754.19.
BIMB Securities Research in a note Oct 17 said it was interesting to notice just how quick sentiments could change a bear to a bull in a matter of weeks.
Now that the US was coming out with improved economic figures, many experts had now decided that recession may be too harsh a word for the world's largest economy, it said.
Rather many are now becoming more buoyant and even reckon that there will be a extended rally on the equity markets over the next couple of months, it said.
The research house said that after an all round positive gains in Europe from more positive developments over its financial crisis, the Dow Jones Industrial Average jumped an impressive 166 points to close at 11,644 pushing its year-to-date performance up to an amazing +2.6%.
Meanwhile, regional bourses closed the week on a mixed note purely from profit taking after a sharp run-up, it said.
'For Malaysia, the FBM KLCI closed flat losing a marginal 2.44 point.
'In line with a better outlook and improved sentiment, we believe there to be more upside and possible see the 1,450 level breached today,' it said.
Among the gainers at mid-morning, Petronas Dagangan and KLK added 46 sen each to RM16.78 and RM21.16, DiGi 28 sen to RM32.28, Cocoaland 23 sen to RM2.23, MISC 18 sen to RM6.59, LPI Capital and F&N 16 sen each to RM12.52 and RM16.44 while Aeon added 15 sen to RM7.15.
Harvest was the most actively traded counter with 18.44 million shares done. The stock added 3.5 sen to 18 sen.
Other actives included Ramunia, MAA, Jotech, Karambunai, Kurnia Asia, YTL Land and UEM Land.
Meanwhile, decliners included BAT, Lafarge Malayan Cement, KYM, Tan Chong and Caely.
Asian shares rose on Monday and the euro held firm amid hopes that a crucial week for the euro zone crisis will see policymakers finally come up with a comprehensive plan to resolve the region's debt woes and recapitalise its banks, according to Reuters.
The FBM KLCI rose 1.05% or 15.18 points to 1,457.16 at 10am.
Market breadth was positive with 411 gainers and 74 losers, while 161 counters traded unchanged. Volume was 415 million shares valued at RM321.9 million.
At the regional markets, Hong Kong's Hang Seng Index rose 1.77% to 18,829.94, Japan's Nikkei 225 added 1.41% to 8,871.04, South Korea's Kospi added 0.88% to 1,851.64, Taiwan's Taiex up 0.81% to 7,417.99, the Shanghai Composite Index gained 0.50% to 2,443.63 and Singapore's Straits Times Index edged up 0.37% to 2,754.19.
BIMB Securities Research in a note Oct 17 said it was interesting to notice just how quick sentiments could change a bear to a bull in a matter of weeks.
Now that the US was coming out with improved economic figures, many experts had now decided that recession may be too harsh a word for the world's largest economy, it said.
Rather many are now becoming more buoyant and even reckon that there will be a extended rally on the equity markets over the next couple of months, it said.
The research house said that after an all round positive gains in Europe from more positive developments over its financial crisis, the Dow Jones Industrial Average jumped an impressive 166 points to close at 11,644 pushing its year-to-date performance up to an amazing +2.6%.
Meanwhile, regional bourses closed the week on a mixed note purely from profit taking after a sharp run-up, it said.
'For Malaysia, the FBM KLCI closed flat losing a marginal 2.44 point.
'In line with a better outlook and improved sentiment, we believe there to be more upside and possible see the 1,450 level breached today,' it said.
Among the gainers at mid-morning, Petronas Dagangan and KLK added 46 sen each to RM16.78 and RM21.16, DiGi 28 sen to RM32.28, Cocoaland 23 sen to RM2.23, MISC 18 sen to RM6.59, LPI Capital and F&N 16 sen each to RM12.52 and RM16.44 while Aeon added 15 sen to RM7.15.
Harvest was the most actively traded counter with 18.44 million shares done. The stock added 3.5 sen to 18 sen.
Other actives included Ramunia, MAA, Jotech, Karambunai, Kurnia Asia, YTL Land and UEM Land.
Meanwhile, decliners included BAT, Lafarge Malayan Cement, KYM, Tan Chong and Caely.
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