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Market Open KLCI retreats as blue chips weigh
by Cals Wed 10 Apr 2013, 09:15
Market Open KLCI retreats as blue chips weigh
Business & Markets 2013
Written by Surin Murugiah of theedgemalaysia.com
Wednesday, 10 April 2013 09:08
A + / A - / Reset
KUALA LUMPUR (April 10): The FBM KLCI retreated in early trade on Wednesday, weighed by losses at select blue chips including Petronas Gas and Genting.
At 9.05am, the FBM KLCI fell 1.77 points to 1,688.50.
Gainers led losers by 84 to 47, while 112 counters traded unchanged. Volume was 61.27 million shares valued at RM24 million.
The top losers included Petronas Gas, Boustead, Genting, Bumi Armada, Felda Global, CLIQ, and IHH Healthcare.
BIMB Securities Research in a market preview Wednesday said the local market ended Tuesday positive with the FBM KLCI posting a slight gain of 2.28 points to end at 1,690.27 led by banking and tobacco counters.
“Although market volatility has declined, the outlook remains uncertain ahead of the coming GE13.
“Expect to see immediate resistance at 1,695/1,700 while support at 1,685/80,” it said.
Meanwhile, Asian shares edged higher on Wednesday after a strong session on Wall Street overnight while the yen remained under pressure, with tensions on the Korean peninsula seen capping gains for riskier assets, according to Reuters.
The MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent after rising 1 percent the day before. The Dow Jones industrial average closed at a record high on Tuesday on hopes for better corporate earnings, it said.
Business & Markets 2013
Written by Surin Murugiah of theedgemalaysia.com
Wednesday, 10 April 2013 09:08
A + / A - / Reset
KUALA LUMPUR (April 10): The FBM KLCI retreated in early trade on Wednesday, weighed by losses at select blue chips including Petronas Gas and Genting.
At 9.05am, the FBM KLCI fell 1.77 points to 1,688.50.
Gainers led losers by 84 to 47, while 112 counters traded unchanged. Volume was 61.27 million shares valued at RM24 million.
The top losers included Petronas Gas, Boustead, Genting, Bumi Armada, Felda Global, CLIQ, and IHH Healthcare.
BIMB Securities Research in a market preview Wednesday said the local market ended Tuesday positive with the FBM KLCI posting a slight gain of 2.28 points to end at 1,690.27 led by banking and tobacco counters.
“Although market volatility has declined, the outlook remains uncertain ahead of the coming GE13.
“Expect to see immediate resistance at 1,695/1,700 while support at 1,685/80,” it said.
Meanwhile, Asian shares edged higher on Wednesday after a strong session on Wall Street overnight while the yen remained under pressure, with tensions on the Korean peninsula seen capping gains for riskier assets, according to Reuters.
The MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent after rising 1 percent the day before. The Dow Jones industrial average closed at a record high on Tuesday on hopes for better corporate earnings, it said.
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