KLCI stays above 1,790-level, positive in tandem with region

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KUALA LUMPUR (Sept 13): The FBM KLCI remained above the 1,790-point level at mid-morning today, lifted by select blue chips in line with gains at most regional markets.

At 10am, the FBM KLCI added 1.16 points to 1,791.02.

Gainers led losers by 302 to 233, while 311 counters traded unchanged. Volume was 749.31 million shares valued at RM259.68 million.

The top gainers included Ajinomoto (M) Bhd, PM Technology Bhd, Public Bank Bhd, IOI Corp Bhd, Pentamaster Corp Bhd, Batu Kawan Bhd, Power Root Bhd, Aeon Credit Service (M) Bhd and KESM Industries Bhd.

The actives included DBE Gurney Resources Bhd, Sino Hua-An International Bhd, MQ Technology Bhd, Priceworth International Bhd, Compugates Holdings Bhd, AirAsia X Bhd, Dataprep Holdings Bhd, NetX Holdings Bhd and Vivocom Intl Holdings Bhd.

The losers included Globetronics Technology Bhd, SLP Resources Bhd, Hong Leong Industries Bhd, Willowglen MSC Bhd, IHH Healthcare Bhd, LTKM Bhd, Cahya Mata Sarawak Bhd and Syarikat Takaful Malaysia Bhd.

Asian shares inched up to a 10-year high on Wednesday, cheered by record highs on Wall Street, while the dollar’s rise against the yen helped boost Japanese shares, according to Reuters.

The S&P 500, Dow Jones industrials and Nasdaq Composite all marked record finishes as investors' concerns faded about North Korean tensions as well as the impact of Hurricane Irma, it said.

Hong Leong IB Research said as of now, the US equities may trend higher amid the positive buying momentum, but investors may focus on US inflation data, which may offer fresh direction for the US dollar index that have weakened towards near the 92 level (32-month low) and crude oil stockpiles this week.

“Meanwhile, traders may stay slightly cautious ahead of the FOMC meeting that will be held next week (19-20 Sept).

“On the local front, we believe the trading activities may remain active and robust on the back of the positive inflows of foreign funds and the buying momentum may lift the key index higher towards the resistance along 1,795.

“Traders may look out for trading opportunities within the solid fundamental small caps and lower liners as trading volumes have seen increasing among them,” it said.