KUALA LUMPUR (Jan 19): The FBM KLCI was up 0.16% at mid-morning today, in line with the gains at most regional markets.
At 10.10am, the FBM KLCI was up 2.90 points to 1,824.50.
Gainers led losers by 357 to 247, while 326 counters traded unchanged. Volume was 1.02 billion shares valued at RM487.49 million.
The gainers included Hengyuan Refining Company Bhd, Petron Malaysia Refining & Marketing Bhd, Petronas Gas Bhd, Hong Leong Bank Bhd, KESM Industries Bhd, Kluang Rubber Company (Malaya) Bhd, ViTrox Corp Bhd, Pentamaster Corp Bhd, Hai-O Enterprise Bhd and Kuchai Development Bhd.
The actives included Sumatec Resources Bhd, UMW Oil & Gas Corp Bhd, Sapura Energy Bhd, Sino Hua-An International Bhd, P.A. Resources Bhd, Xidelang Holdings Ltd and Xinghe Holdings Bhd.
The losers included Nestle (M) Bhd, United Plantations Bhd, Dutch Lady Milk Industries Bhd, Tasek Corp Bhd, Malaysia Pacific Industries Bhd and Ibraco Bhd.
Asia stocks edged higher on Friday and were within reach of record highs, although losses on Wall Street slowed the advance, while worries over a possible U.S. government shutdown weighed on the dollar, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1 percent. The index was poised for a 1 percent gain on the week, during which it rode a surge in global equities and climbed to a record high on Thursday, it said.
Hong Leong IB Research in a traders’ brief said based on the market sentiment, investors may continue to price in future earnings benefiting from the recent corporate tax reform into the stock markets.
“Hence, the Dow may sustain its upward momentum moving forward but expect more interim consolidations amid toppish indicators. Key resistance is 26,500 while supports are near 25,200-25,500.
“On the back of softer market undertone, mainly due to heavy settlements and toppish techicals, KLCI could engage in a brief near term consolidation before resuming its uptrend later, given the firm ringgit and crude oil prices coupled with healthy macro developments.
“Key supports are 1800-1810 while resistances fall on 1840-1850,” it said.