KUALA LUMPUR: The FBM KLCI opened higher on Tuesday, Oct 11 in line with the overall positive sentiment at key regional markets and rose above the psychologically crucial 1,400-point level at mid-morning.
Meanwhile, Chinese shares opened up 2.4% on Tuesday, boosted by a unit of the country's sovereign wealth fund increasing its stakes in the "Big Four" lenders in a sign of government support for the languishing stock market, according to Reuters.
The FBM KLCI rose 11.96 points to 1,409.00 at 10am, lifted by gains at select blue chips.
Gainers outpaced losers by 371 to 53, while 146 counters traded unchanged. Volume however was relatively thin with 240.95 million shares valued at RM231.19 million
At the regional markets, Hong Kong's Hang Seng Index jumped 3.74% to 18,372.62, Japan's Nikkei 225 rose 2.21% to 8,795.90, the Shanghai Composite Index gained 2.07% to 2,610.10, Taiwan's Taiex added 2.31% to 7,378.67, South Korea's Kospi rose 2.18% to 1,804.90 and Singapore's Straits Times Index added 1.86% to 2,718.06.
BIMB Securities Research in a note Oct 11 said that in Europe, major markets were up for the fourth consecutive days.
France and Germany are coming up with a plan by the end of the month to resolve the euro zone debt crisis and rescue the region's struggling financials, it said.
In the US, the Dow surged 330 points to close the session at 11,433 following the good news over in Europe.
BIMB Securities said that in China, a unit of China's sovereign wealth fund began to buy stocks in the country's big banks on Monday, showing the sign that Beijing was looking to support the country's struggling stock markets.
'Back home, we shall see the FBM KLCI is to re-test the 1,400 psychological barrier with the next resistance at 1,420.
'On the down side, we shall see the support level at 1,380,' it said.
Among the gainers on Bursa Malaysia, Hong Leong Bank was up 40 sen to RM10.64, KLK 28 sen to RM20.62, TSH 24 sen to RM3.17, DiGi 20 sen to RM30.30, Genting 18 sen to RM9.27, Lafarge Malayan Cement 17 sen to RM6.79, RHB Capital 16 sen to RM6.69, Dutch Lady 14 sen to RM18.48, while Tradewinds and Bernas rose 12 sen each to RM8.29 and RM3.24.
Decliners included Kretam, BDB, Jetson, Scomi Engineering, Eng Teknologi, Syscorp and Farlim.
Meanwhile, the actives included UEM Land, Dutaland, Timecom, Tejari and Karambunai.
Meanwhile, Chinese shares opened up 2.4% on Tuesday, boosted by a unit of the country's sovereign wealth fund increasing its stakes in the "Big Four" lenders in a sign of government support for the languishing stock market, according to Reuters.
The FBM KLCI rose 11.96 points to 1,409.00 at 10am, lifted by gains at select blue chips.
Gainers outpaced losers by 371 to 53, while 146 counters traded unchanged. Volume however was relatively thin with 240.95 million shares valued at RM231.19 million
At the regional markets, Hong Kong's Hang Seng Index jumped 3.74% to 18,372.62, Japan's Nikkei 225 rose 2.21% to 8,795.90, the Shanghai Composite Index gained 2.07% to 2,610.10, Taiwan's Taiex added 2.31% to 7,378.67, South Korea's Kospi rose 2.18% to 1,804.90 and Singapore's Straits Times Index added 1.86% to 2,718.06.
BIMB Securities Research in a note Oct 11 said that in Europe, major markets were up for the fourth consecutive days.
France and Germany are coming up with a plan by the end of the month to resolve the euro zone debt crisis and rescue the region's struggling financials, it said.
In the US, the Dow surged 330 points to close the session at 11,433 following the good news over in Europe.
BIMB Securities said that in China, a unit of China's sovereign wealth fund began to buy stocks in the country's big banks on Monday, showing the sign that Beijing was looking to support the country's struggling stock markets.
'Back home, we shall see the FBM KLCI is to re-test the 1,400 psychological barrier with the next resistance at 1,420.
'On the down side, we shall see the support level at 1,380,' it said.
Among the gainers on Bursa Malaysia, Hong Leong Bank was up 40 sen to RM10.64, KLK 28 sen to RM20.62, TSH 24 sen to RM3.17, DiGi 20 sen to RM30.30, Genting 18 sen to RM9.27, Lafarge Malayan Cement 17 sen to RM6.79, RHB Capital 16 sen to RM6.69, Dutch Lady 14 sen to RM18.48, while Tradewinds and Bernas rose 12 sen each to RM8.29 and RM3.24.
Decliners included Kretam, BDB, Jetson, Scomi Engineering, Eng Teknologi, Syscorp and Farlim.
Meanwhile, the actives included UEM Land, Dutaland, Timecom, Tejari and Karambunai.
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