KLCI surges to historic high of 1,826
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KLCI surges to historic high of 1,826
KUALA LUMPUR: Malaysia's blue chips surged to an all-time high of
1,826 early Monday, powered by aggressive buying of FBM KLCI stocks
after the Barisan Nasional won 133 parliamentary seats at the 13th
General Elections to continue to rule the country.
The rally broke past all technical indicators while CIMB Equities Research upgraded Malaysia from Neutral to Overweight and raised its end-2013 KLCI target from 1,640 to 1,850.
At
9.48am, the KLCI was up 55.88 points to 1,750.65. Turnover was 433.36
million shares valued at RM1.39bil. There were 557 gainers, 33 losers
and 69 counters unchanged.
BAT rose RM3.04 to RM65.40, PetGas RM1.30 to RM20.86, CIMB 73 sen to RM8.34 while KLK gained 66 sen to RM21.60.
HLFG rose 66 sen to RM15.96, Genting 55 sen to RM10.54 and PPB Group 34 sen to RM12.94.
Public Invest Research
said with the largest overhang on markets out of the way, the next
question was the positioning of the investors' portfolio for the months
ahead.
"Our suggested stocks at the end of last year has yielded
a year-to-date return of about 10.9% versus the weighted- benchmark
index return of 2.3%, amplifying our point of a winning strategy (for
now) coming from stock-specific investments," it said.
Hwang DBS Vickers Research
said in terms of share price actions, counters that will probably
attract added interest this week include construction plays - Gamuda,
MMC, MRCB and IJM - as mega infrastructure projects (such as MRT, LRT
system extensions and high-speed rail) will proceed according to plans.
HDBSVR
said market laggards like CIMB and DRB-Hicom would see trading interest
while Tenaga might benefit from tariff hikes arising from the
implementation of a proposed fuel cost pass-through formula.
Automotive
companies - UMW, APM and MBM - could see trading interest in response
to a likely announcement of a national automotive plan in the near
future (following the Barisan Nasional coalition's promise to gradually
reduce car selling prices in its election manifesto).
1,826 early Monday, powered by aggressive buying of FBM KLCI stocks
after the Barisan Nasional won 133 parliamentary seats at the 13th
General Elections to continue to rule the country.
The rally broke past all technical indicators while CIMB Equities Research upgraded Malaysia from Neutral to Overweight and raised its end-2013 KLCI target from 1,640 to 1,850.
At
9.48am, the KLCI was up 55.88 points to 1,750.65. Turnover was 433.36
million shares valued at RM1.39bil. There were 557 gainers, 33 losers
and 69 counters unchanged.
BAT rose RM3.04 to RM65.40, PetGas RM1.30 to RM20.86, CIMB 73 sen to RM8.34 while KLK gained 66 sen to RM21.60.
HLFG rose 66 sen to RM15.96, Genting 55 sen to RM10.54 and PPB Group 34 sen to RM12.94.
Public Invest Research
said with the largest overhang on markets out of the way, the next
question was the positioning of the investors' portfolio for the months
ahead.
"Our suggested stocks at the end of last year has yielded
a year-to-date return of about 10.9% versus the weighted- benchmark
index return of 2.3%, amplifying our point of a winning strategy (for
now) coming from stock-specific investments," it said.
Hwang DBS Vickers Research
said in terms of share price actions, counters that will probably
attract added interest this week include construction plays - Gamuda,
MMC, MRCB and IJM - as mega infrastructure projects (such as MRT, LRT
system extensions and high-speed rail) will proceed according to plans.
HDBSVR
said market laggards like CIMB and DRB-Hicom would see trading interest
while Tenaga might benefit from tariff hikes arising from the
implementation of a proposed fuel cost pass-through formula.
Automotive
companies - UMW, APM and MBM - could see trading interest in response
to a likely announcement of a national automotive plan in the near
future (following the Barisan Nasional coalition's promise to gradually
reduce car selling prices in its election manifesto).
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