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Market Close KLCI up 0.7% on local/foreign factors
by Cals Tue 11 Jun 2013, 00:20
Market Close KLCI up 0.7% on local/foreign factors
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Monday, 10 June 2013 17:36
A + / A - / Reset
KUALA LUMPUR (June 10): The FBM KLCI rose today ahead of the Invest Malaysia seminar (June 13-14) that investors expect to hear some good news pertaining to the local capital market, analysts said.
The local market was also boosted by a Wall Street relief rally last Friday, after U.S. jobs data on Friday eased some jitters about the Federal Reserve, paring its massive stimulus in the near term.
At 5.00 pm market close, the KLCI rose 12.21 points or 0.69% to end at 1787.80 – very near to the last record close of 1788.43 on May 14, after hitting an intraday high of 1792.67.
Turnover was high at 2.42 billion shares, worth about RM2.53 billion. Gainers led losers by 667 to 224.
A senior dealer said of the market: "The market is strong today, supported by funds and played by licensed day traders. PLANTATION [] stocks have a good day after official data showed a lower palm oil stocks level."
"Bursa Malaysia is expected to resume its upward trajectory…Key weekly resistance is at 1790-1800 whilst supports fall on 1760-1765," said Hong Leong Investment Bank in a research note.
Major plantation counters led by SIME DARBY BHD [], IOI Corporation, KLK, PPB and Genting Plantations jumped, after the latest official report on palm oil data showed that May inventory was near its lowest level in a year.
Malaysia's palm oil stocks in May 2013 fell by 97,983 tonnes or 5.12% to 1,816,380 tonnes, from April's 1,914,363 tonnes, according to the Malaysian Palm Oil Board (MPOB) at noon.
The overall market breadth was positive despite the weakening of the ringgit against most major currencies, dealers noted.
The local unit was quoted at 3.1055/1085 against the greenback this morning, compared with 3.0930/0960 last Friday.
Among the heavyweights that supported the KLCI were CIMB, Axiata Group, DiGi and Sime Darby. Others were major plantation stocks, CView, CMSB and AFG.
Among the losers were Carlsberg, BAT, Top Glove, LafMsia and Jobstreet.
Among the actives were Patimas Computers, Scomi, Luster Industries and MAS and Malton.
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Monday, 10 June 2013 17:36
A + / A - / Reset
KUALA LUMPUR (June 10): The FBM KLCI rose today ahead of the Invest Malaysia seminar (June 13-14) that investors expect to hear some good news pertaining to the local capital market, analysts said.
The local market was also boosted by a Wall Street relief rally last Friday, after U.S. jobs data on Friday eased some jitters about the Federal Reserve, paring its massive stimulus in the near term.
At 5.00 pm market close, the KLCI rose 12.21 points or 0.69% to end at 1787.80 – very near to the last record close of 1788.43 on May 14, after hitting an intraday high of 1792.67.
Turnover was high at 2.42 billion shares, worth about RM2.53 billion. Gainers led losers by 667 to 224.
A senior dealer said of the market: "The market is strong today, supported by funds and played by licensed day traders. PLANTATION [] stocks have a good day after official data showed a lower palm oil stocks level."
"Bursa Malaysia is expected to resume its upward trajectory…Key weekly resistance is at 1790-1800 whilst supports fall on 1760-1765," said Hong Leong Investment Bank in a research note.
Major plantation counters led by SIME DARBY BHD [], IOI Corporation, KLK, PPB and Genting Plantations jumped, after the latest official report on palm oil data showed that May inventory was near its lowest level in a year.
Malaysia's palm oil stocks in May 2013 fell by 97,983 tonnes or 5.12% to 1,816,380 tonnes, from April's 1,914,363 tonnes, according to the Malaysian Palm Oil Board (MPOB) at noon.
The overall market breadth was positive despite the weakening of the ringgit against most major currencies, dealers noted.
The local unit was quoted at 3.1055/1085 against the greenback this morning, compared with 3.0930/0960 last Friday.
Among the heavyweights that supported the KLCI were CIMB, Axiata Group, DiGi and Sime Darby. Others were major plantation stocks, CView, CMSB and AFG.
Among the losers were Carlsberg, BAT, Top Glove, LafMsia and Jobstreet.
Among the actives were Patimas Computers, Scomi, Luster Industries and MAS and Malton.
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