Slumping KLCI, more optimistic trade across Asia

KUALA LUMPUR:The FBM KLCI
closed in the red on Friday the 13th trade while key Asian bourses were
largely on the green turf following news of bond sales in Spain and
Italy a day ago.
The local benchmark traded negative at 1523.07
points, slipping 2.49 points or 0.16% at its close. There were 373
gainers, 397 losers and 339 unchanged counters. 1.766bil shares were
traded worth RM1.609bil.
Losers were led by Dutch Lady Milk Industires Bhd sliding 32 sen to RM25.78; Far East Holdings Bhd dropping 30 sen to RM6.90 and Proton Holdings Bhd falling 28 sen to RM5.18.
Gainers were Malayan Flour Mills Bhd up 31 sen to RM7.86; Freight Management Hld-WA, climbing 30.5 sen to 31 sen; while Supermax Corp Bhd gained 21 sen to RM4.55.
Hwang DBS
Vickers Research predicts mixed action on the Malaysian bourse today as
“the key FBM KLCI is expected to oscillate sideways with a marginal
upward bias ahead, possibly climbing towards the immediate resistance
barrier of 1,530”.
“On the other hand, rotational speculative
buying activity on the lower liners could persist to hold up market
momentum,” it added in its daily outlook report.
The research
house added that: “Over on Wall Street, major U.S. equity indices were
up slightly by between 0.2% and 0.5% last night. Essentially, sentiment
got a lift from lower borrowing costs at sovereign bond auctions in
Europe, which more than offset disappointing U.S. economic data.”
Stocks
that could take limelight today are Proton, as it moves a step closer
to potential sale of its controlling block of shares after it was
reported that shareholder Khazanah Nasional has asked potential bidders
to provide funding details in the coming week; and AirAsia after its associate AirAsia X cut its Paris, London, Mumbai and New Delhi routes.
Around the region, Shanghai A index lost 1.34% to 2244.58 while the other bourses traded positive.
Tokyo's
Nikkei 225 was up 1.36% to 8500.02; Hong Kong's Hang Seng Index
recorded a 0.57% rise at 19204.42 while Korea's Kospi rose 0.60% to
1875.68. Neighbouring Singapore's Straits Times Index climbed 1.64% to
2788.71.
Nymex crude oil was quoted at US$99.52, spot gold at
US$1642.86 and silver at US$30.13. The US dollar was quoted at 3.1328
while the euro at 4.0160.