FBMKLCI : FBM KLCI ends the month on higher note
KUALA LUMPUR (Oct 31): The FBM KLCI index, which has had a roller coster ride this month, managed to finish on a higher note despite the heavy selldown during the period.
The benchmark index closed at 1,855.15 points, up 12.37 points or 0.67% today. Share prices closed mostly higher across the board. Gainers led risers 663 to 248, while 275 counters were unchanged.
Trading volume expanded to 2.75 billion shares worth RM2.4 billion, compared with 2.1 million shares worth RM2.01 billion yesterday.
Dealers said the overnight gain on Wall Street continued to aid market sentiment.
For the month, FBM KLCI has gained 8.84 points or 0.48% against the closing of 1,846.31 point in September. The barometer dived to a 13-month low of 1,767.77 points on Oct 16.
When contacted, analysts said the market now is heading higher to test the resistance line.
"Overall, the market is performing (well) today. But if the benchmark index can cross over 1855 or 1858 points, then it would have more room to grow," an analyst told The Edge Market.com, over a phone conversation.
However, he said if the market failed to do so, investors could expect to see short term pull back in the market.
For the investing idea, some analysts are looking at the blue chips that have underperformed year-to-date, or they can focus on goods and services taxes (GST) or e-commerce related stocks.
On the broader market, today’s most actively-traded entities include Censof Holdings Bhd and Dagang Nexchange Bhd (Dnex).
The gainers were led by British American Tobacco (M) Bhd and Nestle (M) Bhd . While the decliners were led by Press Metal Bhd 's warrants, then followed by United Plantations Bhd .
On the regional front, Japan's Nikkei 225 gained 4.83% or 755.56 points to finished the last trading day of October at 16413.76. Hong Kong's Hang Seng climbed 1.25% to close at 23998.06, while South Korea's KOSPI rose marginally by 0.28% at 1964.43.
Reuters reported Japanese stocks staged a strong rally to levels before the global financial crisis today, after the Bank of Japan stunned markets by easing policy further, in a move prompted by slow inflation after an April tax hike dented economic growth.
The Japan's central bank decided to increase the pace at which it expands base money to about 80 trillion yen per year, up from a previous target of 60-70 trillion yen.
The BOJ also decided to increase its purchases of government debt by about 30 trillion yen and extend the average duration of JGB holdings to around 10 years, and decided to triple its purchases of exchange-traded funds and Japan real estate investment trusts.
http://www.theedgemarkets.com
The benchmark index closed at 1,855.15 points, up 12.37 points or 0.67% today. Share prices closed mostly higher across the board. Gainers led risers 663 to 248, while 275 counters were unchanged.
Trading volume expanded to 2.75 billion shares worth RM2.4 billion, compared with 2.1 million shares worth RM2.01 billion yesterday.
Dealers said the overnight gain on Wall Street continued to aid market sentiment.
For the month, FBM KLCI has gained 8.84 points or 0.48% against the closing of 1,846.31 point in September. The barometer dived to a 13-month low of 1,767.77 points on Oct 16.
When contacted, analysts said the market now is heading higher to test the resistance line.
"Overall, the market is performing (well) today. But if the benchmark index can cross over 1855 or 1858 points, then it would have more room to grow," an analyst told The Edge Market.com, over a phone conversation.
However, he said if the market failed to do so, investors could expect to see short term pull back in the market.
For the investing idea, some analysts are looking at the blue chips that have underperformed year-to-date, or they can focus on goods and services taxes (GST) or e-commerce related stocks.
On the broader market, today’s most actively-traded entities include Censof Holdings Bhd and Dagang Nexchange Bhd (Dnex).
The gainers were led by British American Tobacco (M) Bhd and Nestle (M) Bhd . While the decliners were led by Press Metal Bhd 's warrants, then followed by United Plantations Bhd .
On the regional front, Japan's Nikkei 225 gained 4.83% or 755.56 points to finished the last trading day of October at 16413.76. Hong Kong's Hang Seng climbed 1.25% to close at 23998.06, while South Korea's KOSPI rose marginally by 0.28% at 1964.43.
Reuters reported Japanese stocks staged a strong rally to levels before the global financial crisis today, after the Bank of Japan stunned markets by easing policy further, in a move prompted by slow inflation after an April tax hike dented economic growth.
The Japan's central bank decided to increase the pace at which it expands base money to about 80 trillion yen per year, up from a previous target of 60-70 trillion yen.
The BOJ also decided to increase its purchases of government debt by about 30 trillion yen and extend the average duration of JGB holdings to around 10 years, and decided to triple its purchases of exchange-traded funds and Japan real estate investment trusts.
http://www.theedgemarkets.com
