Thursday 28 Mar 2024
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KUALA LUMPUR (Jan 5): The FBM KLCI rose 0.58% at the midday break today, while trading volume surged past 3 billion shares.

At 12.30pm, the FBM KLCI was up 10.60 points to 1,814.05. The index had earlier risen to its intra-morning high of 1,816.08.

Gainers led losers by 441 to 284, while 608 counters traded unchanged. Volume was 3.56 billion shares, valued at RM1.84 billion.

The top gainers included Fraser & Neave Holdings Bhd, Nestle (M) Bhd, KESM Industries Bhd, Ajinomoto (M) Bhd, Axiata Group Bhd, Yinson Holdings Bhd, Bursa Malaysia Bhd, Malaysia Pacific Industries Bhd and Sime Darby Bhd.

The actives included UMW Oil & Gas Corp Bhd, Sapura Energy Bhd, Vizione Holdings Bhd, DGB Asia Bhd, P.A. Resources Bhd, Sumatec Resources Bhd, Sino Hua-An International Bhd and Diversified Gateway Solutions Bhd.

The decliners included Dutch Lady Milk Industries Bhd, British American Tobacco (M) Bhd, Aeon Credit Service (M) Bhd, Westports Holdings Bhd, Hong Leong Financial Group Bhd, Time Dotcom Bhd and MSM Malaysia Holdings Bhd.

Asian shares inched closer to a record high on Friday as U.S. jobs data pointed to firm economic growth, although the greenback was soft as the spectre of benign inflation capped domestic bond yields, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose nearly 0.3% in morning trade to 584.5, with benchmark indexes in Australia and South Korea up about 0.6% and 0.8% respectively, Reuters said.

Affin Hwang IB senior associate director and head of retail research Datuk Dr Nazri Khan Adam Khan said stocks rallied around the world on signs and solid evidences of global economic expansion.

Dr Nazri said the S&P 500 rose 0.4% to 2,723.99.

“The Dow Jones Industrial Average gained 152.45 points (0.6%) to 25,075.13.

“For the local market, the FBMKLCI index closed sharply high in the last session, breaking the 1800 psychological resistance, with bullish spikes of volumes.

“The present pre-GE14’s rally is expected to continue. Sentiments and market perceptions are so bullish, thus market participants might see [that] any future pullbacks will be short lived.

“Both local and foreign investors are anticipated to increase their exposure in selected local stocks, particularly stocks with quality fundamentals, in the near future,” he added.

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