KUALA LUMPUR (Sept 15): The FBM KLCI rose 0.7% at mid-morning today, while newly-listed Aemulus Holdings Bhd was actively traded.
At 10am, the FBM KLCI rose 11.64 points to 1,651.27.
The top gainers included Petronas Dagangan Bhd, Tenaga Nasional Bhd, Malaysia Airports Holdings Bhd, Malayan Banking Bhd, Hong Leong Bank Bhd, Hartalega Holdings Bhd, KESM Industries Bhd, Guinness Anchor Bhd, Aemulus and Brahim’s Holdings Bhd.
The actives included Ingenuity Consolidated Bhd, Aemulus, Felda Global Ventures Holdings Bhd, UEM Sunrise Bhd, AirAsia Bhd, Sumatec Resources Bhd, Frontken Corporation Bhd and Bumi Armada Bhd.
The top losers included British American Tobacco (M) Bhd, Aeon Co (M) Bhd, New Hoong Fatt Holdings Bhd, Gas Malaysia Bhd, IGB Corporation Bhd and Genting Malaysia Bhd.
Asian shares and the dollar inched higher on Tuesday but caution reigned after Wall Street skidded as investors awaited this week's US Federal Reserve policy decision, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1%, after Wall Street logged losses, with US trading volume at its lowest in a month as markets awaited the Fed outcome, it said.
M & A Securities head of research Rosnani Rasul said Wall Street ended lower on negative sentiment ahead of the US policy meeting this week.
She said the DJIA and S&P 500 lost 8.02 (-0.41%) and 62.13 (0.38%) points to end at 1,953.03 and 16,370.96 respectively.
“As mentioned before, the US Federal Reserve will be holding its September policy meeting with the decision on policy rate to come on Thursday. Generally, a 25 basis points adjustment is widely speculated, pushing investors to the side line ahead of the meeting.
“That aside, local wise, with RM20 billion fiscal priming, as in new fresh funds for ValueCap, the government investment arm, will be the booster that will shore up sentiment in the local market this week.
“The surprise sizeable fund will be enough to jack-up sentiment in the local market in our view and hence, positive momentum that we expect for today,” she said.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)