28 Feb 2014 - BC Daily Trading Floor

by **Cals** Fri 28 Feb 2014, 14:03

Good day traders

Feb 28th - Stocks To Watch Genting, GenM, TM, DRB-Hicom, Maybank, IHH, MKH, Boustead, Sunway, MMC.
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by **Cals** Sat 01 Mar 2014, 01:39

Market Close KLCI rises 0.2% in volatile trade

Business & Markets 2014

Written by Chong Jin Hun of theedgemalaysia.com

Friday, 28 February 2014 17:19

KUALA LUMPUR (Feb 28): The FBM KLCI erased losses for a four-point or 0.2% rise after vacillating between gains and losses. At 5pm, the KLCI settled at 1,835.66.

The KLCI's rise followed overnight gains in US markets on Federal Reserve Chair Janet Yellen's positive comments on the US economy. However, investors were also concerned about Ukraine's political crisis and its impact on world markets.

In Malaysia, remisiers said the stock market saw profit-taking among small-cap stocks. "There is consolidation in small-cap stocks," a remisier told theedgemalaysia.com over telephone today.

The remisier said this came amid demand for shares of blue-chips fuelled by corporate announcements. Demand for these stocks which included CIMB Group Holdings Bhd had supported the KLCI's rise.

Earlier today, TA Securities Holdings Bhd wrote in a note that it expected investors to lock in gains in small-cap entities. TA also anticipated that KLCI stocks would gain on Yellen's comments.

"The slowing trading momentum trend should see small-cap stocks stay in profit-taking correction mode, while blue chips perk up amid overnight dovish statements from the US Federal Reserve regarding stimulus tapering," TA said.

Bursa Malaysia saw 2.45 billion shares worth RM2.68 billion changed hands. There were 268 gainers versus 582 decliners.

The top gainer was Aeon Co (M) Bhd. Leading decliners included Guinness Anchor Bhd and PPB Group Bhd.

The most-active stocks included Asia Bioenergy Technologies Bhd and PDZ Holdings Bhd.

Across Asia, Japan's Nikkei fell 0.55% while Hong Kong's Hang Seng erased losses for an 0.04% gain.

Reuters reported that Asian stocks edged up in late trading after a volatile session on Friday, as investors weighed unrest in Ukraine against Federal Reserve Chairwoman Janet Yellen expression of confidence in the strength of the U.S. economy.

The fear factor helped the yen rise against the dollar and euro on its traditional safe-haven appeal as tensions mounted in Ukraine, even after Yellen's testimony to a Senate committee helped the S&P 500 closed at a record high.

28 Feb 2014 - BC Daily Trading Floor

28 Feb 2014 - BC Daily Trading Floor

Re: 28 Feb 2014 - BC Daily Trading Floor