Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Blue chips boost KLCI, as Asian markets rise

Go down

Blue chips boost KLCI, as Asian markets rise  Empty Blue chips boost KLCI, as Asian markets rise

Post by inQic Thu 13 Oct 2011, 12:39

KUALA LUMPUR: Gains at select blue chip stocks and the overall positive sentiment at key regional markets gave the FBM KLCI a boost, as the benchmark index extended its positive run for the third day.

Asian shares rose on Thursday on growing hopes that Europe is taking concrete steps to contain the region's debt woes and head off a systemic banking crisis, according to Reuters.

Strengthening investor confidence in the euro zone underpinned the single currency, while receding concerns about the banks' problems threatening the wider financial system sharply tightened Asian credit markets, it said.

The FBM KLCI rose 11.06 points to 1,439.56 at mid-morning.

The broader market sentiment was positive with 395 gainers and 87 losers, while 182 counters traded unchanged. Volume was 401.4 million shares valued at RM413.81 million.

BIMB Securities Research in a note Oct 13 said that a swing in sentiments to the positive on equities was rather apparent in line with a clearer picture on the Euro zone.

The stronger closing on major European bourses and Wall Street which ended 105 points higher had pointed a more sanguine outlook for equities going forward, it said.

The research house said barring any nasty surprises, it expects that investors would trickle back to the stock markets after what was a confidence trashing 3 months.

Most Asian bourses also fared better hence a more improved performance by the FBM KLCI, it said.

“The benchmark index jumped almost 17 points to close at almost 1,430 with the next resistance seen at the 1,450 mark.

“With most of the negative news already discounted, seems like the equities markets are now waiting for further positive news before more investors flock back. A false dawn, let’s hope not!” it said.

On Bursa Malaysia, DiGi led the gainers and rose 36 sen to RM30.84, CI Holdings and Amway 22 sen each to RM4.74 and RM8.80, Pasdec 19 sen to 55 sen, Ta Ann and Genting 16 sen each to RM4.61 and RM9.96, UOA Development 15 sen to RM1.43, while Batu Kawan, Petronas Chemicals and Sime Darby added 14 sen each to RM15, RM5.94 and RM8.69 respectively.

Among the decliners were RHB Capital, Notion Vtec, Kheesan, Tenaga, Tradewinds PLANTATION []s, MBMR, Padini and Top Glove.

Meanwhile, the actives included Sanichi, Timecom, UOA Development, Dutaland, CIMB and MBSB. Thumbs Up
inQic
inQic
Member
Member

Posts : 829 Credits : 1019 Reputation : 86
Male Join date : 2011-10-07

Back to top Go down

Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum