Thursday 28 Mar 2024
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KUALA LUMPUR (Mar 30): The FBM KLCI rose 0.51% at the midday break today, lifted by select blue chips.

At 12.30pm, the FBM KLCI was up 9.46 points to 1,822.83.

The top gainers included Tahps Group Bhd, British American Tobacco (M) Bhd, Petronas Dagangan Bhd, DanaInfra Nasional Bhd, Syarikat Takaful Malaysia Bhd, Aeon Credit Services (M) Bhd, DiGi.Com Bhd and Dutch Lady Milk Industries Bhd.

The actively traded stocks included Ingenuity Consolidated Bhd, Privasia Technology Bhd, Berjaya Corporation Bhd, Genetec Technology Bhd, Tiger Synergy Bhd and KNM Group Bhd.

The top decliners included Amway (M) Holdings Bhd, Keck Seng Bhd, Guinness Anchor Bhd, New Hoong Fatt Bhd, IJM Corporation Bhd, Uzma Bhd, Wing Tai Malaysia Bhd and Dayang Enterpise Holdings Bhd.

Asian stock markets were subdued on Monday in a week book-ended with Easter holidays across the globe and a U.S. jobs report that could affect the timing of the first hike in interest rates there, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.4%, with Australia's main index down 1.4% amid weakness in commodity prices, it said.

Maybank IB head of retail research and chief chartist Lee Cheng Hooi in a note to clients today said the FBM KLCI inched up 9.72 points week-on-week last Friday to close at 1,813.37, as some persistent nibbling activities were obvious throughout the week ahead of the 1Q2015 closing.

He said volume fell from 2.44 billion to 1.65 billion shares.

“The FBM KLCI’s recent rebound peaked at 1,831.41 on Feb 4, 2015, short of its 200-daily Simple Moving Average.

“Take profit at the resistance areas of 1,823 to 1,858. The support levels of 1,774 and 1,813 will be areas to nibble.

“For this current market phase ahead of the 1Q2015 window dressing, selling activities may just match off with the local buying activities.

“Range trade between the 1,774 and 1,831 levels. A clear market direction will emerge with a sustained break of either level,” he said.

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