Market Open KLCI edges higher in line with regional markets

Business & Markets 2013
Written by Surin Murugiah of theedgemalaysia.com
Monday, 20 May 2013 09:11
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KUALA LUMPUR (May 20): The FBM KLCI edged higher on Monday in
line with the uptrend at most regional markets.
At 9.05am, the FBN KLCI added 3.09 points to 1,772.25.
Gainers led losers by 276 to 46, while 133 counters traded unchanged.
Volume was 104.04 million shares valued at RM56.86 million.
Among the gainers in early trade were GAB, Nestle, KLK, Pintaras,
DKSH, Hunza PROPERTIES [], Daiman, SapuraKencana, Maybank and
MKH.
BIMB Securities in a market preview Monday said fickle minded
investors were back into equities on the premise that the US economy
would continue to improve only a few days after they sold feeling less
confident on the same.
Anyhow, the DJI Average jumped 121 points to close on another record
high at 15,354, it said.
In Europe, stocks were also higher sparked by improved new car
registrations within the region, it said.
“Locally, the FBM KLCI was 2.44 points higher at 1,769.16 after
another volatile day in line with the regional markets which were broadly
higher.
“Trading within the local bourse is now a tug-o-war between the foreign
and local institutions as foreign funds saw another net inflow of RM1.1
billion last week. We expect the index to remain flat today as market
consolidation continues,” it said.