FBM KLCI - lower on profit taking

Stocks on Bursa Malaysia ended lower across the board yesterday, amid weak buying momentum, with sentiment dampened by the downtrend in regional markets and Wall Street. The benchmark FBM KLCI was 8.55 points or 0.48% lower at 1,774.92 after hovering between 1,772.69 and 1,781.17 throughout the day. Market breadth was negative with losers leading gainers by 537 to 305 and 253 were unchanged. Turnover shrink to 1.77 billion shares worth RM2.07 billion compared with 2.67 billion shares valued at RM2.78 billion on Wednesday. ...Read more>>

FBM KLCI - higher on follow through buying

Stocks on Bursa Malaysia closed higher yesterday on persistent buying support after recent losses as market sentiment had improved in line with key regional peers after Wall Street's Dow Jones Industrial Average climbed 0.69 percent to an all-time high of 15,409.39 on Tuesday. The benchmark FBM KLCI rose 7.31 points or 0.41% to close at 1,783.47, after opening 1.58 points better at 1,777.74. Market breadth was positive with gainers leading losers by 527 to 342 while 299 counters were unchanged. Turnover increased to 2.67 billion shares worth RM2.78 billion against Tuesday's 2.58 billion shares worth RM2.75 billion. ...Read more>>

FBM KLCI - higher on bottom reversal

Stocks on Bursa Malaysia closed higher yesterday on strong buying support from local institutions, amid positive sentiment across the region as regional markets were positive following the Japanese share market, which appeared to be stabilising after recent losses. The FBM KLCI, rose 9.03 points or 0.51% to close at 1,776.16, after hovering between 1,765.94 and 1,779.64 throughout the day. Market breadth was positive with gainers led losers by 633 to 239 while 244 counters were unchanged. Turnover increased to 2.58 billion shares worth RM2.75 billion against Monday's 1.62 billion shares worth RM2.24 billion. ...Read more>>

FBM KLCI - lower on continued profit-taking

Stocks on Bursa Malaysia closed mixed yesterday on active profit-taking activities in blue-chips after its recent gains. Consumer and plantation-related counters dragged the benchmark index into the negative territory. The FBM KLCI slipped 5.93 points or 0.33% to close at 1,767.13. However, market breadth was positive with gainers leading losers by 489 to 341 while 253 counters were unchanged. Turnover stood at 1.62 billion shares worth RM2.24 billion versus last Thursday's 2.14 billion shares worth RM2.96 billion. ...Read more>>

FBM KLCI - likely to extend consolidation

 

Stocks on Bursa Malaysia closed sharply lower last Thursday on heavy selling of heavyweights in line with weaknesses in regional markets. Comments by US Federal Reserve Chairman Ben Bernanke that policymakers may scale down bond purchase programmes caused jitters on global equity markets. The benchmark FBM KLCI declined 10.82 points or 0.61% to close the holiday-shortened week at 1,773.06. On a week-to-week basis, the FBM KLCI was 3.90 points higher from 1,769.16. Losers led gainers by 808 to 160 with 204 counters unchanged. Daily turnover decreased to 2.144 billion shares worth RM2.96 billion from 2.877 billion shares worth RM2.972 billion on Wednesday, while weekly turnover dipped to 10.942 billion shares worth RM11.765 billion from 12.677 billion shares worth RM13.261 billion. Bursa Malaysia was closed on Friday for Wesak Day holiday. ...Read more>>

FBM KLCI - lower on profit-taking

Stocks on Bursa Malaysia closed lower yesterday, reversing earlier advances as losses in banking and Petronas-related stocks dragged the benchmark FBM KLCI below its previous all-time high closing of 1,788.43 registered on May 14. The FBM KLCI, which hit an intra-day high of 1,795.59, began a downtrend from 3.10pm and eventually closed 3.50 points or 0.20% lower at 1.783.88 points, after opening 1.23 points higher at 1,788.61. Losers led gainers by 618 to 323, with 249 counters unchanged. Turnover declined to 2.877 billion shares worth RM2.972 billion from 2.966 billion shares worth RM3.011 billion on Tuesday. ...Read more>>

FBM KLCI - higher on follow through buying

Stocks on Bursa Malaysia closed broadly higher yesterday with active buying in heavyweights. The benchmark FBM KLCI advanced 10.23 points or 0.58% to 1,787.38, after hovering within a range of 1,776.82 to 1,787.97, and is closed to the all-time high of 1,788.43 registered on May 14. Gainers led losers by 633 to 363, with 226 counters unchanged. Turnover increased to 2.966 billion shares worth RM3.011 billion from Monday's 2.954 billion shares worth RM2.817 billion. ...Read more>>

FBM KLCI - higher on rebound

Stocks on Bursa Malaysia closed higher yesterday on active buying interest of selected heavyweights and lower liners. The sharp rally in regional markets, due to exuberant consumer sentiment, and the improved economic outlook in the United States improved market sentiment on the local bourse. The barometer index, FBM KLCI, gained 7.99 points or 0.45% to close at 1,777.15 after opening 3.83 points higher at 1,772.99. Gainers led losers by 845 to 163, with 198 counters unchanged. Turnover increased to 2.954 billion shares, worth RM2.817 billion, from 2.114 billion shares, worth RM2.072 billion, recorded on Friday. ...Read more>>

FBM KLCI - likely to further consolidate

Stocks on Bursa Malaysia ended last Friday higher on late buying interest. The benchmark FBM KLCI gained 2.44 points or +0.14% to close at 1,769.16 after hovering between 1,765.85 and 1,773.53. However, on a weekly basis, the key index fell 3.22 points or 0.18% from previous Friday's 1,772.38. Gainers led losers by 588 to 271, with 263 counters unchanged. Volume decreased to 2,11 billion units worth RM2.07 billion from 2.50 billion units worth RM2.40 billion on Thursday, while weekly turnover rose to 12.67 billion shares worth RM12.9bil, compared with previous week's 11.55 billion shares valued at RM17.24 billion. ...Read more>>

FBM KLCI - correction has started

Stocks on Bursa Malaysia ended broadly lower yesterday due to selling pressure, while regional bourses traded mixed, as investor excitement on Japan's better economic growth data was partly dampened by the country's softer capital expenditure data which fell 0.7 percent, in the fifth straight quarter of decline. The FBM KLCI which notched new historic highs on Monday and Tuesday, ended at 1,766.72, sliding 16.31 points or 0.91%, weighed down by losses in major blue-chips. The key index moved between 1,765.45 and 1,781.39 throughout the trading session. Losers led gainers by 591 to 309, with 230 counters unchanged. Volume decreased to 2.50 billion units worth RM2.40 billion from 2.95 billion units worth RM2.70 billion on Wednesday. ...Read more>>

FBM KLIC - toppish reversal formation

Stocks on Bursa Malaysia ended softer yesterday on active profit-taking in blue-chips after the recent gains. The FBM KLCI, which posted a new record high of 1,788.43 on Tuesday, was down by 5.4 points or 0.3% to end at 1,783.03. The key index hovered between 1,781.02 and 1,793.87 throughout the day, with gainers leading losers by 606 to 287 while 271 counters were unchanged. Volume increased to 2.95 billion units worth RM2.70 billion from 2.24 billion shares worth RM2.68 billion on Tuesday.

Taking cue from the strong close on Wall Street overnight, the FBM KLCI opened with an upside gap of 4.2 points at 1,792.63 and climb to the intra-day high of 1,793.87 in the first hour of trading, and heavy profit-taking which set in sent the key index lower for the rest of the day to hit the intra-day low of 1,781.02 before rebounding slightly to close off low. Chart-wise, the FBM KLCI formed a bearish engulfing candlestick pattern, a key reversal candlestick pattern, which indicates the key index is toppish and was facing heavy selling pressure. Hence, the FBM KLCI is likely to slide lower today on continue profit-taking on blue-chip stocks which has made decent gains recently. Immediate downside support is at 1,775 while the overhead resistance is at 1,793.

MACD was higher but is tapering off while its histogram has contracted for the second bar, indicating a fast reduction in the upward momentum. RSI (14) was lower at 71.9 from 75.1, reflecting a pullback in the key index. Stochastic was higher at 71.8 from 69.3,indicating the short term up cycle is still intact. Mixed readings from the indicators showed that the FBM KLCI is going into a correction or consolidation mode.

The trend of the FBM KLCI remained up, however, the key index has already showed signs of toppishness with three key reversal candlestick patterns forming over the last three sessions, indicating heavy distribution of stocks are taking place at current level. Hence, the FBM KLCI is likely to further correct itself with an immediate downside support zone at 1,779 to 1,760 provided by the 5 and 10-day SMA. A break of the 10-day SMA will likely see a deeper correction which will eventually close the gap at 1,743 to 1,718.

Overnight, the DJIA rose 60.44 points or +0.40% to close at 15,275.69. Today, the FBM KLCI is likely to trade within a range of 1,765 to 1,806.

This week's expected range: 1697 – 1818
Today’s expected range: 1765 – 1806

Resistance: 1799, 1798, 1806
Support: 1765, 1773, 1778

FBM KLCI - losing momentum

Stocks on Bursa Malaysia ended on a mixed note yesterday with active profit-taking seen across the board. The benchmark FBM KLCI posted a marginal gain of 0.53 point or 0.03% to close at a new record high of 1,788.43 after hovering between 1,784.34 and 1,793.15 throughout the day. Losers led gainers by 504 to 398 with 271 counters unchanged. Volume decreased to 2.248 billion shares worth RM2.679 billion from Monday's 2.86 billion shares worth RM3.046 billion.

The FBM KLCI opened 1.75 points lower at 1,786.15 and rebounded to the intra-day high of 1,793.15 within the first hour of trading. Profit-taking activity set in and pushed the key index to the intra-day low of 1,784.34 at noon. The key index rebounded slightly and moved sideways in the afternoon before closing marginally higher. Chart-wise, the FBM KLCI formed a white inverted hammer candlestick, which indicates profit-taking activity was generally dominant for the day but the bulls fought back and managed to put the index into the positive territory with just a marginal gain. From the price movement yesterday, we can see that the key index is facing heavy resistance at level above 1,790-point, and the upward momentum is reducing as can be seen from the smaller daily trading range. Hence, the FBM KLCI is likely to pause for a breather at current level to consolidate its recent gains before moving higher to challenge the 1,800-point psychological resistance level.

MACD continued to climb higher, but its histogram was lower, indicating a reduction in the upward momentum. RSI (14) was marginally higher at 75.1 from 75, reflecting the marginal gain in the key index, and the key index is still in a very bullish state. Stochastic was higher at 69.3 from 63.9, indicating a continued improvement in the market strength and the short term up cycle. Readings from the indicators showed that the FBM KLCI is losing its upward momentum, and hence, is likely to consolidate.

The trend of the FBM KLCI remained up. However, the key index started to show sign of tiredness from the price action over the last two days as heavy profit-taking activity started to emerge. It is likely that the FBM KLCI will pause for a breather to consolidate itself before making further move to challenge the 1,800-point level. Immediate overhead resistance zone is at 1,793 to 1,800 while the downside support zone is at 1,784 to 1,775.

Overnight, the DJIA rose 123.57 points or +0.82% to close at 15,215.25. Today, the FBM KLCI is likely to trade within a range of 1,775 to 1,802.

This week's expected range: 1697 – 1818
Today’s expected range: 1775 – 1802

Resistance: 1793, 1798, 1802
Support: 1775, 1779, 1784

FBM KLCI - closing at fresh recod high

Stocks on Bursa Malaysia ended broadly higher yesterday supported by brisk participation from the local and foreign investors. The FBM KLCI ended at a record high of 1,787.90, up 15.52 points, or 0.88%, from Friday's close of 1,772.38 after hovering between 1,775.34 and 1,789.62 throughout the day, with gainers thrashing losers by 888 to 141, while 166 were unchanged. Volume increased to 2.86 billion shares, worth RM3.046 billion from Friday's 2.54 billion shares worth RM2.86 billion. ...Read more>>

FBM KLCI - likely to consolidate

Stocks on Bursa Malaysia ended last Friday on a positive note, lifted by a rotational foreign fund influx amid moderate profit-taking. The benchmark FBM KLCI rose 6.31 points or 0.36% to close at 1,772.38 after hovering between 1,752.26 and 1,772.89 throughout the day. On a weekly basis, the benchmark index gained 77.61 points from previous Friday's 1,694.77. Gainers thrashed losers by 745 to 174 while 201 counters were unchanged. Volume increased to 2.54 billion shares worth RM2.86 billion from 2.44 billion shares worth RM2.52 billion on Thursday. Weekly turnover surged to 11.54 billion shares worth RM17.29 billion from previous week's 3.23 billion shares worth RM7.97 billion. ...Read more>>

FBM KLCI - lower on continued profit-taking

Stocks on Bursa Malaysia closed mixed yesterday after a hefty 82-point or 4.8 percent gain over the past three days as trading was dominated by profit-taking on blue-chips amid bearish industry production data. The FBM KLCI ended 7.93 points or 0.45% lower at 1,766.07 after hovering between 1,764.71 and 1,776.25 throughout the day. Gainers outpaced losers by 558 to 214 with 269 counters unchanged. Volume increased to 2.44 billion shares worth RM2.52 billion from 2.34 billion shares worth RM2.85 billion on Wednesday. ...Read more>>

FBM KLCI - lower on profit taking

Stocks on Bursa Malaysia ended easier yesterday, weighed by mild profit-taking in selective index-linked and construction counters. The FBM KLCI fell 2.73 points or 0.15% to close at 1,774, after hovering between 1,769.17 and 1,783.57 throughout the day. Losers outpaced gainers by 423 to 391 while 266 remained unchanged. Volume increased to 2.34 billion shares worth RM2.85 billion from 2.30 billion shares worth RM4.06 million on Tuesday. ...Read more>>

FBM KLCI - continue moving higher to new record high

Stocks on Bursa Malaysia rose for the second consecutive day post GE13 bolstered by brisk buying across the board and favourable regional markets sentiment. The FBM KLCI ended yesterday on a record high of 1,776.73, up 24.71 points, or 1.41%, from Monday's close of 1,752.02. The key index hovered between 1,756.95 and 1,776.73 throughout the day with gainers trashing losers by 717 to 153, with 224 unchanged. Volume soared to 2.305 billion shares worth RM4.06 billion, up from 1.911 billion shares worth RM4.4 billion on Monday. ...Read more>>

FBM KLCI - at new historic high

Stocks on Bursa Malaysia closed higher across the board yesterday after the ruling Barisan Nasional retained power in the 13th General Election held on Sunday. The FBM KLCI also hit an all-time intra-day high of 1,826.22, boosted by a buying spree in heavyweight counters. The key index closed at a historic high of 1,752.02 points yesterday, up 57.25 points or 3.38% from last Friday's close after hovering between 1,743.14 and 1,826.22. Gainers led losers by 870 to 83 with 132 counters remained unchanged. Total volume almost doubled to 1.911 billion shares worth RM4.993 billion from Friday's 933.243 million shares worth RM2.315 billion. ...Read more>>

FBM KLCI - likely to rebound

Stocks on Bursa Malaysia closed sharply lower last Friday on heavy profit-taking centred mainly on heavyweights as investors reduced their exposure ahead of the 13th general election over the weekend. The FBM KLCI slipped 18.69 points, or 1.09%, to end the day at 1,694.77 points after fluctuating between 1,685.28 and 1,712.03 throughout the day. On a weekly basis, the key index fell 16.52 points from previous Friday's 1,711.29. Losers outpaced gainers by 544 to 236, with 289 counters unchanged. Total volume rose to 933.243 million shares worth RM2.315 billion from the 809.002 million shares worth RM1.986 billion on Thursday. Weekly turnover fell to 3.235 billion shares worth RM7.97 billion from last week’s 3.79 billion shares worth RM8.22 billion. ...Read more>>

FBM KLCI - lower on mild selling pressure

Stocks on Bursa Malaysia closed broadly lower yesterday in quiet trading as investors were reluctant to hold positions ahead of the 13th general elections on Sunday. The FBM KLCI fell 4.19 points or 0.24% to end the day at 1,713.46 compared with Tuesday’s close of 1,717.65, after fluctuating between 1,704.97 and 1,715.23 throughout the day. Losers outpaced gainers by 516 to 210, with 291 counters unchanged. Total volume fell to 809.032 million shares worth RM1.986 billion from the 811.498 million shares worth RM2.265 billion on Tuesday. ...Read more>>

FBM KLCI - At fresh record high

Bursa Malaysia closed off its record intraday high of 1,718.44 on Tuesday, the last trading day of April, boosted by late buying by foreign funds in index-linked heavyweights and blue-chips. The FBM KLCI closed the day at a new all-time high of 1,717.65 points, up 9.68 points or 0.57% from Monday’s close of 1,707.97, after hovering between 1,702.83 and 1,718.44 in thin trading. Its previous all-time high and intraday high were registered on April 26 at 1,711.29 points and 1,718.08 points, respectively. Losers trounced gainers by 443 to 254, with 305 counters unchanged. Total volume rose to 811.698 million shares worth RM2.265 billion from Monday's 682.128 million shares valued at RM1.402 billion. Bursa Malaysia was closed yesterday for the Labour Day holiday. ...Read more>>