KLCI adds 0.33% as regional markets edge higher

KUALA LUMPUR (Dec 22): The FBM KLCI added 0.33% at the midday break today, in line with regional markets that edged higher.

At 12.30pm, the FBM KLCI rose 5.42 points to 1,634.51 points.

Gainers overtook losers by 410 to 286, while 324 counters traded unchanged. Volume was 1.01 billion shares valued at RM737.76 million.

The top gainers included Ajinomoto (Malaysia) Bhd, P.I.E. Industrial Bhd, Top Glove Corporation Bhd, Tasek Corporation Bhd, Axiata Group Bhd, Kossan Rubber Industries Bhd, Panasonic Malaysia Manufacturing Bhd, DKSH (M) Holdings Bhd and Only World Group Holdings Bhd.

The actives included SMTrack Bhd, XOX Bhd, Emico Holdings Bhd, Eden Inc Bhd, The Media Shoppe Bhd, Instacom Group Bhd and APFT Bhd.

The decliners included British American Tobacco (M) Bhd, Dutch Lady Milk Industries Bhd, Sasbadi Holdings Bhd, Batu Kawan Bhd, Petronas Gas Bhd, Keck Seng (Malaysia) Bhd, Kawan Food Bhd and Teck Guan Perdana Bhd.

Asian shares edged higher on Tuesday, taking solace from Wall Street gains and some stability in recently weak crude oil prices, though gains were capped by caution ahead of this week’s holidays, according to Reuters.

MSCI’s broadest index of Asia-Pacific shares outside Japan inched 0.1% higher, after Wall Street logged solid gains overnight following a losing week. Australia’s S&P/ASX 200 index added 0.3%, it said.

AffinHwang Capital Research said the local market is anticipated to trend lower on the back of bleak outlook of crude oil prices.

“ECB (European Central Bank)’s probable stimulus may offer some cushion on downside risks.

“Technically, stocks are expected to drift lower but potentially limited to 1,620 level and hence buy on weakness seems to be an attractive investment strategy particularly during December and January,” it said.

@theedgemarkets.com – KLCI adds 0.33% as regional markets edge higher