Blog ini memaparkan pelbagai berita-berita terkini tanahair serta sebarang maklumat berguna buat semua pengunjung.

Tuesday, March 1, 2011

Market Outlook for March 1, 2011

Market summary
The benchmark FBM KLCI fell 25.54 points to end the week at 1,521.89 points last Friday, continuing the downward trend from the week before when it closed at 1,547.43 points.

On Thursday, however, the FBM KLCI closed 6.96 points higher at 1,526.96, momentarily ending the six-day slide from last Wednesday as investors began taking profit ahead of the holiday-shortened trading week this week.

Last Friday, 1.33 billion shares worth RM1.98 billion were traded. The top gainer was DFZ Capital Bhd which gained 46 sen to close at RM3.62. The top loser was Dutch Lady Milk Industries Bhd which lost 22 sen to end at RM16.66.

Bank Negara Malaysia’s decision last Thursday to maintain the overnight policy rate at 2.75% may have also contributed to the dull trading activity last Friday.

Oil and gas counters ended Friday with mixed results following Petroliam Nasional Bhd’s announcement last Thursday that it would soon develop marginal oilfields to boost the country’s oil production.
Among the gainers were Dialog Group Bhd, which rose two sen to RM2.11. Uzma Bhd, which rose seven sen to RM2.15; SapuraCrest Petroleum Bhd, which gained four sen to RM3.62; and Alam Maritim Bhd, which went up two sen to RM1.15.

Losers included Kencana Petroleum Bhd, which shed one sen to RM2.55; KNM Group Bhd, which was down one sen to RM2.94; and Wah Seong Bhd which fell two sen to RM2.28.
Regional markets rallied w-o-w as the Shanghai Composite Index climbed 37.456 points to 2,752.75, Japan’s Nikkei rose 85.82 points to 10,360.34 and Australia’s ASX All Ordinaries Index gained 18.3 points to 3,077.26.

The Jakarta Composite Index rose 108.067 points to 3,487.61 while Singapore’s Straits Times Index rose 45.09 points to 3,229.69. Hong Kong’s Hang Seng shed 259.84 points to 23,617.02.
This week will see 1 ½ days of market trading with the week punctuated by two public holidays — Federal Territory Day on Tuesday and Chinese New Year on Thursday and Friday. Bursa Malaysia also announced that trading will be closed for the afternoon session on Wednesday in conjunction with the eve of Chinese New Year.

ECM Libra’s head of research Bernard Ching says this week will likely see thin trading volume as the local bourse takes a breather.

This article appeared in Capital, The Edge Malaysia, Issue 843, Jan 31-Feb 6, 2011

The Edge Malaysia
Share:

0 comments:

Post a Comment

Tabung Pendidikan

BTemplates.com

Blog Archive