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NewsSime, TM lead blue chips up in early trade
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Sime, TM lead blue chips up in early trade
by hlk Mon 30 Jul 2012, 13:26
KUALA LUMPUR: Heayweights Sime Darby and Telekom Malaysia led blue chips higher in early trade on Monday, as sentiment was boosted by key Asian markets and the strong Wall Street performance last Friday.
At 9.12am, the FBM KLCI was up 2.24 points to 1,627.18. Turnover was 54.01 million shares valued at RM33.71mil. Gainers beat losers two to one, with 141 advancers to 47 decliners and 133 counters unchanged.
Hwang DBS Vickers Research said to get a better feel on the immediate global equities outlook, investors will be looking forward to the U.S. Federal Open Market Committee gathering scheduled on Tuesday and Wednesday.
"There will be increased expectations on the meeting outcome after the underlying sentiment was boosted by the positive rhetoric heard in Europe last week," it said.
HDBSVR said with the key federal funds rate likely to be kept at near-zero level, the policymakers are expected to take fresh quantitative easing initiatives to stimulate the fragile U.S. economy. Or they should at least say something to that effect.
"While talk is cheap it sometimes could work wonders by lifting the overall confidence. After all, words were all it took to trigger across-the-board buying activity in the overseas markets last Thursday and Friday when the head of Europe's central bank merely uttered that 'it is ready to do whatever it takes to preserve the euro'," it said.
Among the heavyweights, TM rose 10 sen to RM5.76 and Sime Darby eight sen to RM9.90.
Aeon Credit was the top gainer, up 40 sen to RM11.18 with 1,100 shares done. Glove makers Top Glove and Hartalega added 10 sen each to RM5.39 and RM4.50.
Other gainers were BDRB and Jaya Tiasa, up eight sen each to RM2.59 and RM8.50 while IHH Healthcare added two sen to RM3.17.
BAT fell the most, down 94 sen to RM61 with 1,200 shares done. Tenaga shed eight sen to RM6.74 while Maxis extended its decline from last week, down five sen to RM6.35.
UOA Development shed two sen to RM1.80 after the run-up in its share price last Thursday.
At 9.12am, the FBM KLCI was up 2.24 points to 1,627.18. Turnover was 54.01 million shares valued at RM33.71mil. Gainers beat losers two to one, with 141 advancers to 47 decliners and 133 counters unchanged.
Hwang DBS Vickers Research said to get a better feel on the immediate global equities outlook, investors will be looking forward to the U.S. Federal Open Market Committee gathering scheduled on Tuesday and Wednesday.
"There will be increased expectations on the meeting outcome after the underlying sentiment was boosted by the positive rhetoric heard in Europe last week," it said.
HDBSVR said with the key federal funds rate likely to be kept at near-zero level, the policymakers are expected to take fresh quantitative easing initiatives to stimulate the fragile U.S. economy. Or they should at least say something to that effect.
"While talk is cheap it sometimes could work wonders by lifting the overall confidence. After all, words were all it took to trigger across-the-board buying activity in the overseas markets last Thursday and Friday when the head of Europe's central bank merely uttered that 'it is ready to do whatever it takes to preserve the euro'," it said.
Among the heavyweights, TM rose 10 sen to RM5.76 and Sime Darby eight sen to RM9.90.
Aeon Credit was the top gainer, up 40 sen to RM11.18 with 1,100 shares done. Glove makers Top Glove and Hartalega added 10 sen each to RM5.39 and RM4.50.
Other gainers were BDRB and Jaya Tiasa, up eight sen each to RM2.59 and RM8.50 while IHH Healthcare added two sen to RM3.17.
BAT fell the most, down 94 sen to RM61 with 1,200 shares done. Tenaga shed eight sen to RM6.74 while Maxis extended its decline from last week, down five sen to RM6.35.
UOA Development shed two sen to RM1.80 after the run-up in its share price last Thursday.
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