Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (Dec 20): The FBM KLCI recovered at mid-morning and reversed its earlier loss but remained lacklustre in line with the repid regional sentiment.

At 10am, the FBM KLCI edged up 0.41 points to 1,596.42. The index had earlier dipped to a low of 1,592.30.

Gainers led losers by 239 to 198, while 310 counters traded unchanged. Volume was 496.42 million shares valued at RM318.24 million.

The gainers included Panasonic Manufacturing Malaysia Bhd, Dutch Lady Milk Industries Bhd, United Plantations Bhd, Allianz Malaysia Bhd, Public Bank Bhd, PPB Group Bhd, Pintaras Jaya Bhd, MISC Bhd and Hong Leong Industries Bhd.

The actives included Inari Amertron Bhd, KNM Group Bhd, AT Systematization Bhd, Bumi Armada Bhd, Brahim’s Holdings Bhd and Tiger Synergy Bhd.

The decliners included Nestle (M) Bhd, Hong Leong Bank Bhd, Westports Holdings Bhd, MyNews Holdings Bhd, Boustead Heavy Industries Corp Bhd, MCE Holdings Bhd, Teck Guan Perdana Bhd, Carlsberg Brewery Malaysia Bhd and QL Resources Bhd.

Reuters said Asian shares snoozed near 18-month highs on Friday as trade thinned in the run-up to Christmas and investors seemed content to digest the chunky gains already made so far this month.

MSCI's broadest index of Asia-Pacific shares outside Japan was a fraction firmer in early trade, having gained 1.2% for the week so far and almost 5% for the month, it said.

Kenanga IB Research said Asian stocks ended mixed yesterday after Bank of Japan decided to keep the monetary policy steady amid expectations that the economy would likely to expand moderately.

It said back home, the FBM KLCI dropped 2.75 points (-0.17%) to close at 1,596.36 as trading was halted for 15 minutes before market close due to a possible IT glitch.

“Chart-wise, the index continued to close above all the key SMAs with heavy trading volume, coupled with bullish crossover from MACD, we believe that the index could move higher. 

“From here on, the overhead resistance levels can be seen at 1,630 (R1) and 1,650 (R2). Conversely, key support levels can be found at 1,550 (R1) and 1,540 (R2),” it said.

      Print
      Text Size
      Share