KUALA LUMPUR (Sept 14): The FBM KLCI rose 0.61% and crossed the 1,800 level at midday break, in line with gains at regional markets, as sentiment received a boost from expectations of fresh US-China negotations.
At 12.30pm, the FBM KLCI rose 11.09 points to 1,803.69.
Gainers led losers by 485 to 275, while 1,127 counters traded unchanged. Volume was 1.65 billion shares valued at RM1.22 billion.
Top gainers included Dutch Lady Milk Industries Bhd, Malaysian Pacific Industries Bhd, Lingkaran Trans Kota Holdings Bhd, Heineken Malaysia Bhd, MI Equipment Holdings Bhd, QL Resources Bhd, DiGi.Com Bhd, RHB Bank Bhd and CIMB Group Holdings Bhd.
Top actives included Sapura Energy Bhd, My EG Services Bhd, Hibiscus Petroleum Bhd, Priceworth International Bhd, Velesto Energy Bhd, XOX Bhd, Sumatec Resources Bhd and Nexgram Holdings Bhd.
Top losers included British American Tobacco (M) Bhd, Ajinomoto (M) Bhd, Ayer Holdings Bhd, ViTrox Corp Bhd, Tan Chong Motor Holdings Bhd, MBM Resources Bhd and LPI Capital Bdh.
Shares across most of Asia rose on Friday, on expectations the United States and China could launch a fresh round of trade talks, and as a surprisingly sharp interest rate hike in crisis-hit Turkey supported the lira and global risk appetite, according to Reuters.
However, stocks in China fell, amid lingering uncertainty over the outlook for trade, Reuters added.
Affin Hwang Capital Research said the FBM KLCI rebounded (7.35 points) in yesterday’s session.
“Market breadth was positive — 478 gainers, 405 losers. Prices were supported by the 50% Fibonacci level. However, technical indicators are continuing to show a slowing down of momentum.
“The FBM KLCI Index may experience downward bias in the near-term,” the research house said.