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NewsMidday Report KLCI up 0.1%; volume high despite upcoming Raya holiday
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Midday Report KLCI up 0.1%; volume high despite upcoming Raya holiday
by Cals Mon 05 Aug 2013, 14:51
Midday Report KLCI up 0.1%; volume high despite upcoming Raya holiday
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Monday, 05 August 2013 12:58
KUALA LUMPUR (Aug 5): The stock market rose marginally, despite a soft Asian start this morning, due mainly to the Prime Minister’s comments that Malaysia is determined to address its deteriorating public finance.
At 12.30 pm noon break, the FBM KLCI rose 2 points or 0.11% to end at 1784.51, on relatively high trades of 846 million shares valued at RM598 million. Risers totalled 297 while losers stood at 305.
“The assurance made by the PM (Datuk Seri Najib Razak) last week that the coming Budget will address the public finance problem is positive for the market. I notice the market markers (licensed day traders and local funds) are active,” said a senior dealer.
In a morning research note, Hong Leong Investment Bank said: “Amid another fresh record high on Dow last Friday, PM’s assurance that the government would address the concerns over the Fitch ratings downgrade warning in Budget 2014 (on 25 Oct) and central bank governor’s confidence of Malaysia’s capacity and capability to address its fiscal vulnerabilities, KLCI’s technical rebound is likely to continue this week.”
At noon break, top turnovers were led by CIMB, Maybank and Digi, while top gainers were led by Dutch lady, Pintaras Jaya, Batu Kawan, BIMB, Petronas Dadangan, AmBank, Petronas Gas and Tasek.
Top losers were led by Nestle, Hong Leong Bank, Hong Leong Financial Group and Malaysia Airports, while the actives were led by SONA-WA, Iris, Daya, Ingenco, SONA, Flonic and its warrant.
In Asia, shares were soft in morning trades and the U.S. dollar was on the defensive after data showed U.S. employers slowed their pace of hiring in July, Reuters reported at mid-morning.
Japan's Nikkei share average fell 1.0 percent while ex-Japan Asian shares dropped 0.2 percent, in contrast to Wall Street which ended at record highs on Friday in part helped by expectations the U.S. Federal Reserve may delay scaling back its stimulus.
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Monday, 05 August 2013 12:58
KUALA LUMPUR (Aug 5): The stock market rose marginally, despite a soft Asian start this morning, due mainly to the Prime Minister’s comments that Malaysia is determined to address its deteriorating public finance.
At 12.30 pm noon break, the FBM KLCI rose 2 points or 0.11% to end at 1784.51, on relatively high trades of 846 million shares valued at RM598 million. Risers totalled 297 while losers stood at 305.
“The assurance made by the PM (Datuk Seri Najib Razak) last week that the coming Budget will address the public finance problem is positive for the market. I notice the market markers (licensed day traders and local funds) are active,” said a senior dealer.
In a morning research note, Hong Leong Investment Bank said: “Amid another fresh record high on Dow last Friday, PM’s assurance that the government would address the concerns over the Fitch ratings downgrade warning in Budget 2014 (on 25 Oct) and central bank governor’s confidence of Malaysia’s capacity and capability to address its fiscal vulnerabilities, KLCI’s technical rebound is likely to continue this week.”
At noon break, top turnovers were led by CIMB, Maybank and Digi, while top gainers were led by Dutch lady, Pintaras Jaya, Batu Kawan, BIMB, Petronas Dadangan, AmBank, Petronas Gas and Tasek.
Top losers were led by Nestle, Hong Leong Bank, Hong Leong Financial Group and Malaysia Airports, while the actives were led by SONA-WA, Iris, Daya, Ingenco, SONA, Flonic and its warrant.
In Asia, shares were soft in morning trades and the U.S. dollar was on the defensive after data showed U.S. employers slowed their pace of hiring in July, Reuters reported at mid-morning.
Japan's Nikkei share average fell 1.0 percent while ex-Japan Asian shares dropped 0.2 percent, in contrast to Wall Street which ended at record highs on Friday in part helped by expectations the U.S. Federal Reserve may delay scaling back its stimulus.
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