KUALA LUMPUR (June 16): The FBM KLCI rebounded and rose 1.86% at the midday break today in line with the regional rally, as market breadth turned broadly positive with more than 4 billion shares traded.
At 12.30pm, the FBM KLCI rose 28.37 points to 1,527.20.
Gainers led losers by 659 to 87, while 519 counters traded unchanged. Trading volume was 4.40 billion shares valued at RM2.12 billion.
The top gainers included Nestle (M) Bhd, Petronas Dagangan Bhd, Top Glove Corp Bhd, Supermax Corp Bhd, Aeon Credit Service (M) Bhd, Hap Seng Consolidated Bhd and Panasonic Manufacturing Malaysia Bhd.
The actives included AT Systematization Bhd, NetX Holdings Bhd, Barakah Offshore Bhd, Prestariang Bhd, Compugates Holdings Bhd, Minetec Resources Bhd, Bumi Armada Bhd and Karyon Bhd.
The decliners included UMS-Neiken Group Bhd, Pineapple Resources Bhd, Carlsberg Brewery Malaysia Bhd and FACB Industries Bhd.
Reuters said Asian shares and Wall Street futures rallied on Tuesday as the formal start of the Federal Reserve's corporate bond buying programme boosted global investor sentiment and calmed earlier worries about a second wave of coronavirus infections.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 2.2%, its biggest one-day gain since June 1. Australian stocks rose 3%, while shares in China rose 1.2%, it said.
Kenanga Research said that yesterday, Asian markets were lower as fears on the resurgence of the virus spooked investors.
It said back home, the FBM KLCI dropped 47.19 points or 3.05% to finish at 1,498.83.
“Following the formation of a 'Golden Cross', the index managed to close the gap that was opened during the mid-March market meltdown, which sees it now trading above all of its key-SMAs.
“On the chart, our support levels are identified at 1,450 (S1) and 1,410 (S2).
“On the upside, our resistance levels are at 1,530 (R1) and 1,590 (R2),” it said.