KLCI poised to post a flattish May m-o-m

TheEdge Wed, May 31, 2017 01:18pm - 6 years View Original


KUALA LUMPUR (May 31): The FBM KLCI is poised to post a flattish May month-on-month as trading sentiment on the final day of the month remained tepid.

At 12.30pm, the FBM KLCI dipped 0.37 points to 1,764.97. The index had earlier risen to its intra morning high of 1,769.46.

Losers led gainers by 457 to 325, while 347 counters traded unchanged. Volume was 1.11 billion shares valued at RM955.03 million.

The top decliners included Panasonic Manufacturing Malaysia Bhd, DanaInfra Nasional Bhd, United Plantations Bhd, Petronas Gas Bhd, Yee Lee Corp Bhd, Karex Bhd, Fraser & Neave Holdings Bhd, Willowglen MSC Bhd, Carlsberg Brewery Malaysia Bhd, Aeon Credit Service (M) Bhd and Thong Guan Industries Bhd.

The actives included NetX Holdings Bhd, Tiger Synergy Bhd, AirAsia X Bhd, Sumatec Resources Bhd, DRB-Hicom Bhd, Dagang NeXchange Bhd, Felda Global Ventures Holdings Bhd, IFCA MSC Bhd and Karex.

The gainers included Nestle (M) Bhd, Heineken Malaysia Bhd, Bursa Malaysia Bhd, Ajinomoto (M) Bhd, Hong Leong Bank Bhd, Lafarge Malaysia Bhd, Petronas Dagangan Bhd and Malaysia Airports Holdings Bhd.

Asian stocks climbed on Wednesday, capping a fifth consecutive month of gains, as data showed China's factory activity grew at a steady clip this month, bucking expectations of a slowdown, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2% on Wednesday, with Chinese stocks leading the region higher as investors returned from a long holiday break, it said.

Kenanga IB Research said the FBM KLCI traded on a tepid note yesterday, closing 0.45 points or 0.03% higher at 1,765.34, underpinned by the absence of fresh catalyst.

It said the broader market remained weak with 680 decliners beating 235 advancers during the intra-day.

The research house said that chart-wise, the FBM KLCI is still fixated with its sideways consolidation trade on the back of weak trading volume.

"The MACD is still displaying its bearish convergence while daily RSI and Stochastic have hooked down to hint that the consolidation play is likely to prolong over the immediate term.

"All in, we reaffirm our view that the FBM KLCI will persist on its consolidation mode this week within 1,760-1,784.

"Key resistance levels are capped at 1,784 (R1) and 1,800 (R2), while support levels are tied at 1,760 (S1) and 1,743 (S2)," it said.

 

 

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

1201 0.000
5584 0.000
AAX 1.340
AEONCR 6.120
AIRPORT 9.900
AJI 18.600
BURSA 7.460
CARLSBG 18.380
DNEX 0.345
DRBHCOM 1.460
F&N 29.400
FGV 1.380
HEIM 23.220
HLBANK 19.360
IFCAMSC 0.355
KAREX 0.790
MCEMENT 4.960
NESTLE 118.000
NETX 0.130
PANAMY 18.180
PETDAG 21.500
PETGAS 17.540
TGUAN 1.840
TWL 0.030
UTDPLT 24.500
WILLOW 0.355

Comments

Login to comment.