KUALA LUMPUR: Blue chips climbed in early trade on Thursday, Feb 25 with PPB, KL Kepong and Axiata the gainers as investors were encouraged by the economic outlook, improved corporate earnings and firmer overnight close on Wall Street.
However, JCY International, which made its debut on the Main Market, put up a lacklustre performance. At 9.20am, it was down 15 sen to RM1.45 with 20.97 million shares done. Its institutional price was RM1.60.
The FBM KLCI was up 2.21 points to 1,272.9. Turnover was 79 million shares valued at RM92 million. There were 163 gainers, 64 losers and 118 stocks unchanged.
Hwang DBS Vickers Research said it would probably see the local stock market, which was one of the two markets that climbed yesterday out of the 11 Asian stock exchanges that it tracks - trailing its regional peers today.
"Investors will be keen to buy beaten down Asian shares following the overnight rebound on Wall Street. Key U.S. barometers rose between 0.9% and 1.0% after the Fed Chairman said low interest rates would still be needed for the time being," it said in the market outlook report.
At Bursa, as most of the financial reports that were out last evening came in broadly within expectations, there should be little immediate share price reactions, said Hwang DBS Vickers Research.
Unlike yesterday, when CIMB (up 2.7% or 34 sen) alone accounted for nearly the entire 4.4-point increase in the benchmark FBM KLCI after releasing robust earnings. More listed companies - the likes of Sime Darby, Genting group of companies and RHB Capital - are due to announce their scorecard on this last day of reporting.
PPB rose 26 sen to RM16.46, KL Kepong 14 sen to RM16.82 while Axiata added nine sen to RM3.59. SP Setia gained seven sen to RM4.19 and Carlsberg six sen to RM4.62.
Far East was the top decliner, down 30 sen to RM6.50, BAT lost 18 sen to RM41.90 in thin trade.
AE Multi shed 5.5 sen to 74.5 sen, extending its losses from Wednesday. Transmile, which fell 50% yesterday, fell another four sen to 41.5 sen.
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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