KLCI keeps gains in line with regional markets.

TheEdge Mon, Jan 15, 2018 10:15am - 6 years View Original


KUALA LUMPUR (Jan 15): The FBM KLCI kept its gains at mid-morning today in line with the advance at most regional markets.

At 10am, the FBM KLCI rose 3.25 points to 1,825.92.

Gainers led losers by 380 to 311, while 367 counters traded unchanged. Volume was 1.58 billion shares valued at RM627.96 million.

The gainers included Nestle (M) Bhd, Kuchai Development Bhd, LPI Capital Bhd, UMW Holdings Bhd, Chemical Company of Malaysia Bhd, British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Kluang Rubber Company (Malaya) Bhd and MPHB Capital Bhd.

The actives included Sumatec Resoources Bhd, UMW Oil & Gas Corp Bhd. P.A. Resources Bhd, NetX Holdings Bhd, Trive Property Group Bhd, Sapura Energy Bhd, Hubline Bhd and AirAsia X Bhd.

The losers included Hengyuan Refining Company Bhd, Malaysia Pacific Industries Bhd, Uchi Technologies Bhd, Mercuri Industries Bdh and Lingkaran Trans Kota Holdings Bhd.

Asian shares hit historic highs on Monday after Wall Street extended its record-breaking run, while the U.S. dollar retreat continued as investors priced in the risk of tighter policies elsewhere in the developed world, according to Reuters.

Activity was restrained somewhat as a U.S. holiday curbed trade in cash Treasuries, though E-Mini futures for the S&P500 still made gains of 0.22 percent, it said.

Hong Leong IB Research in a traders’ brief said in the near term, Dow’s uptrend may sustain on the back of positive tax reform and bullish outlook of synchronized growth in global economy coupled with stellar corporate earnings growth.

“Key technical indicators are mostly favourable, suggesting that the index is likely to continue its primary uptrend towards 26,000-26,300. Any pullback is likely limited with supports at 25,000-25,200.

“On the back of the ringgit strength and surging oil prices, sentiment on the local bourse could stay positive, despite interim consolidations, tracking the bullish performance on Dow and regional markets as our local bourse remains a laggard,” it said.

 

 

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