KLCI reverses loss, gains seen limited

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KUALA LUMPUR (Feb 18): The FBM KLCI reversed its earlier loss and edged up at mid-morning on Wednesday, buts gains were seen limited ahead of the holiday shortened trading week.

At 10am, the FBM KLCI was up 2.65 points to 1,812.74.

The top gainers included Kuala Lumpur Kepong Bhd, Danainfra Nasional Bhd, Tasek Corporation Bhd, Petronas Dagangan  Bhd, PPB Group Bhd, Public Bank Bhd, Perduren (M) Bhd, Axiata Group Bhd and Hong Leong Financial Group Bhd.

The actives included IFCA MSC Bhd, Systech Bhd, Tigery Synergy Bhd, Asia Bio Energy Technologies Bhd, Perisai Petroleum Teknologi Bhd and Zelan Bhd.

The top losers included Dutch Lady Milk Industries Bhd, Syarikat Takaful Malaysia Bhd, Hong Leong Capital Bhd, Subur Tiasa Holdings Bhd, Genting Plantations Bhd, RHB Capital Bhd, Scientex Bhd and Tan Chong Motor Holdings Bhd.
Asian equities tracked a mild bounce on Wall Street to edge higher on Wednesday, although caution over talks later in the day in the ongoing Greek debt saga limited gains, according to Reuters.
Japan's Nikkei rose 0.9 percent, given an extra lift by a weaker yen and Australian shares gained 0.4 percent. MSCI's broadest index of Asia-Pacific shares outside Japan was steady, it said.
BIMB Securities Research said regionally, key indexes ended mostly higher ahead of Chinese New Year holidays.

It said Hong Kong and Shanghai stocks both advanced Tuesday morning in their last full trading day before the Lunar New Year holiday, overcoming data showing China's home-price fall accelerated last month.

Japanese stocks however were lower due to stronger yen, it said.

“Locally, the FBMKLCI ended flattish, added 1.2 points to 1,810.09 lifted mainly by O&G counters.

“We expect the local market to remain flat today ahead of the long weekend with the index hovering in the region 1,805-1,815,” it said.