KUALA LUMPUR: ''The FBM KLCI snapped its losing streak and rose at mid-morning on Wednesday, Oct 5, but trading sentiment remained cautious as key regional markets could not sustain their early gains.
Reports that European finance ministers were examining ways of coordinating bank recapitalisation, following the first lender bailout as a result of the crisis of French-Belgian municipal lender Dexia SA, sparked a late rally on Wall Street, which in turn gave a boost earlier in the morning to Asian markets.
At 10am, the FBM KLCI rose 10.25 points to 1,371.63 points.
Gainers led losers by 245 to 87, while 150 counters traded unchanged. Volume was 129.17 million shares valued at RM159.53 million.
At the regional markets, Japan's Nikkei 225 fell 0.86% to 8,383.22, South Korea's Kospi lost 1.48% to 1,680.92 and Taiwan's Taiex shed 0.36% to 7,022.58, while Singapore's Straits Times Index gained 0.71% to 2,549.06.
The China and Hong Kong markets were closed for national holidays, respectively.
BIMB Securities Research in a note Oct 5 said tt was a tug-of-war session between the bull and the bear on Wall Street yesterday with the bull winning the contest albeit temporarily.
Swayed by Bernanke's comments that the Feds may be proactive to spur the ailing US economic situation, investors ignored Moody's earlier downgrade on Italy to A2 to prop up the Dow Jones Industrial Average up by 153 points to close at the 10,800 just above the technical support of 10,600 level, it said.
Weak European markets again affected the performances of Asian bourses as most ended the session in the red, it said.
'For Malaysia, the FBM KLCI confounded many with an exceptionally strong early session before profit taking emerged taking advantage of the uptrend and eventually closed 6 points lower at 1,361.38.
'Today's trading is expected to be mixed with some downward bias. Next support is at the 1,350 mark,' it said.
Among the gainers on Bursa Malaysia, DiGi added 62 sen to RM30.28, Panasonic and BAT gained 32 sen each to RM19.20 and RM43.74, PPB 24 sen to RM16.30, MMHE 20 sen to RM5.21, MISC 17 sen to RM5.97, top Glove 16 sen to RM4.42, BHIC 15 sen to RM2.55 while Supermax rose 14 sen to RM3.39.
GPRO was the most actively traded counter with 13.1 million shares done.'' The stock fell half a sen to 15 sen.
Other actives included IRCB, Takaso, MAA, Latexx, Axiata and Key West.
Meanwhile, decliners included United PLANTATION []s, APM Automotive, KLK, Cyberview, KLCCP, EKIB, SOP and Bina Goodyear.
Reports that European finance ministers were examining ways of coordinating bank recapitalisation, following the first lender bailout as a result of the crisis of French-Belgian municipal lender Dexia SA, sparked a late rally on Wall Street, which in turn gave a boost earlier in the morning to Asian markets.
At 10am, the FBM KLCI rose 10.25 points to 1,371.63 points.
Gainers led losers by 245 to 87, while 150 counters traded unchanged. Volume was 129.17 million shares valued at RM159.53 million.
At the regional markets, Japan's Nikkei 225 fell 0.86% to 8,383.22, South Korea's Kospi lost 1.48% to 1,680.92 and Taiwan's Taiex shed 0.36% to 7,022.58, while Singapore's Straits Times Index gained 0.71% to 2,549.06.
The China and Hong Kong markets were closed for national holidays, respectively.
BIMB Securities Research in a note Oct 5 said tt was a tug-of-war session between the bull and the bear on Wall Street yesterday with the bull winning the contest albeit temporarily.
Swayed by Bernanke's comments that the Feds may be proactive to spur the ailing US economic situation, investors ignored Moody's earlier downgrade on Italy to A2 to prop up the Dow Jones Industrial Average up by 153 points to close at the 10,800 just above the technical support of 10,600 level, it said.
Weak European markets again affected the performances of Asian bourses as most ended the session in the red, it said.
'For Malaysia, the FBM KLCI confounded many with an exceptionally strong early session before profit taking emerged taking advantage of the uptrend and eventually closed 6 points lower at 1,361.38.
'Today's trading is expected to be mixed with some downward bias. Next support is at the 1,350 mark,' it said.
Among the gainers on Bursa Malaysia, DiGi added 62 sen to RM30.28, Panasonic and BAT gained 32 sen each to RM19.20 and RM43.74, PPB 24 sen to RM16.30, MMHE 20 sen to RM5.21, MISC 17 sen to RM5.97, top Glove 16 sen to RM4.42, BHIC 15 sen to RM2.55 while Supermax rose 14 sen to RM3.39.
GPRO was the most actively traded counter with 13.1 million shares done.'' The stock fell half a sen to 15 sen.
Other actives included IRCB, Takaso, MAA, Latexx, Axiata and Key West.
Meanwhile, decliners included United PLANTATION []s, APM Automotive, KLK, Cyberview, KLCCP, EKIB, SOP and Bina Goodyear.
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