FBMKLCI : KLCI’s gains capped by profit taking
KUALA LUMPUR (Oct 30): The FBM KLCI reversed its earlier losses and edged up marginally at mid-morning amidst weaker regional markets, but the gains at the local bourse were limited by bouts of profit taking.
At 10.01am, the FBMKLCI added 1.64 points to 1,8.41.19
The gainers included BAT, Press Metal , UMW, Batu Kawan , My E.G., Globetronics , Naim, Sime Darby , Harissons, Taliworks and HLFG.
Naim Indah Corp was the most actively traded counter with 31.55 million shares done. The stock rose 8% or one sen to 13.5 sen.
The other actives included KTB, Asia Bio, YGL, Priceworth, Nexgram, Tiger Synergy and IFCA MSC .
The decliners included KLCC, Asia Brands, CIMB , Berjaya Sports Toto , KPJ Healthcare , Top Glove and Genting Malaysia.
Regionally, Asian stocks dipped and the dollar hovered at three-week highs versus the yen after the U.S. Federal Reserve ended its quantitative easing programme as expected, but laced its economic assessment with a tinge of optimism, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.5 percent in early Asian trade on Thursday, it said.
Hong Leong IB Research said that technically, the FBM KLCI could still appreciate further towards 1850-1860 zones amid yesterday’s bullish white Marubozu candlestick formation and bullish indicators.
“However, further rallies may attract profit taking consolidation amid slightly hawkish FOMC statement, getting overbought slow stochastic and the start of Nov reporting season next week.
“Immediate supports rest with 1825 (30-d SMA), 1816 (20-d SMA) and 1806 (38.2% FR),” it said.
KUALA LUMPUR (Oct 30): The FBM KLCI reversed its earlier losses and edged up marginally at mid-morning amidst weaker regional markets, but the gains at the local bourse were limited by bouts of profit taking.
At 10.01am, the FBMKLCI added 1.64 points to 1,8.41.19
The gainers included BAT, Press Metal , UMW, Batu Kawan , My E.G., Globetronics , Naim, Sime Darby , Harissons, Taliworks and HLFG.
Naim Indah Corp was the most actively traded counter with 31.55 million shares done. The stock rose 8% or one sen to 13.5 sen.
The other actives included KTB, Asia Bio, YGL, Priceworth, Nexgram, Tiger Synergy and IFCA MSC .
The decliners included KLCC, Asia Brands, CIMB , Berjaya Sports Toto , KPJ Healthcare , Top Glove and Genting Malaysia.
Regionally, Asian stocks dipped and the dollar hovered at three-week highs versus the yen after the U.S. Federal Reserve ended its quantitative easing programme as expected, but laced its economic assessment with a tinge of optimism, according to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.5 percent in early Asian trade on Thursday, it said.
Hong Leong IB Research said that technically, the FBM KLCI could still appreciate further towards 1850-1860 zones amid yesterday’s bullish white Marubozu candlestick formation and bullish indicators.
“However, further rallies may attract profit taking consolidation amid slightly hawkish FOMC statement, getting overbought slow stochastic and the start of Nov reporting season next week.
“Immediate supports rest with 1825 (30-d SMA), 1816 (20-d SMA) and 1806 (38.2% FR),” it said.
