MARKET UPDATES :
- The FBM KLCI index gained 6.39 points or 0.37% on Tuesday. The Finance Index increased 0.11% to 14697.96 points, the Properties Index up 1.10% to 1192.87 points and the Plantation Index rose 0.23% to 8060.25 points. The market traded within a range of 8.96 points between an intra-day high of 1724.75 and a low of 1715.79 during the session.
- Actively traded stocks include SGB-PR, HUBLINE, HWGB-WD, EKA, AAX-WA, AIRASIA, KGROUP, PALETTE, SONA-WA and TENAGA. Trading volume increased to 2422.08 mil shares worth RM2876.26 mil as compared to Monday’s 2010.01 mil shares worth RM2052.67 mil.
- Leading Movers were UMW (+42 sen to RM7.04), TENAGA (+52 sen to RM14.00), AS- TRO (+8 sen to RM3.00), CIMB (+8 sen to RM4.86) and SIME (+8 sen to RM8.00). Lagging Movers were SKPETRO (-5 sen to RM2.10), WPRTS (-8 sen to RM4.02), YTL (-3 sen to RM1.66), GENM (-8 sen to RM4.45) and RHBCAP (-9 sen to RM5.88). Market breadth was negative with 396 gainers as compared to 473 losers.
- The KLCI extended its winning streak with last minute spike again and closed higher at 1724.75 points amid overnight slight gains in US market. The performance of our local bourse was lifted by buying interest in heavy weight counters such as Tenaga Nasional, CIMB Group Holdings and Sime Darby.
STOCK RECOMMENDATION :
- BUY KIMLUN ABOVE 1.830 TARGET 1.860 1.910 SL 1.770