KLCI Extends Gains

Malaysia Hot Stock (KUALA LUMPUR): The FBM KLCI extended its gains at midday on Thursday supported by key heavyweights such as Maybank and Public Bank, in tandem with the firmer regional markets.

At 12.30pm the KLCI rose 1.75 points to 1,841.88. Turnover was 1.56 billion shares valued at RM1.17bil. There were 453 gainers, 292 decliners and 342 counters unchanged.

Reuters reported most Asian share markets took cues from a global surge in equities and rose on Thursday, while weak US economic data sent the dollar lower.

Wall Street shares posted sizable gains overnight on several strong corporate earnings results and the pan-European Eurofirst 300 index of leading shares climbed to a 14-year high after the European Central Bank affirmed its loose policy stance, it said.

Meanwhile, HLIB Research said in a note that (KLCI) will continue to engage in sideways consolidation with near term supports at 1,830 and 1,820.

"On the contrary, a decisive breakout above immediate resistance of 1,843 will spur KLCI to retest resistances 1,850, 1,858 and 1,878 levels. Overall, as long as uptrend line support near 1,815 is not violated, current rally from 1,670 in Dec 2014 remains intact," it noted.

At Bursa Malaysia, IJM rose 15 sen to RM7.30.

Maybank rose 12 sen to RM9.467 and PBBank 20 sen to RM19.22.

Pharma rose 14 sen to RM6.34 and GTronic 19 sen to RM5.99.

Decliners were TM, down seven sen to RM7.33 and Genting eight sen to RM8.80.

Dutch Lady fell eight sen to RM48.10 and UMW eight sen to RM10.70.

Nikkei 225 fell 0.24% to 19,822.89

Hong Kong Hang Seng Index rose 0.2% to 27,674.04

Shanghai Stock Exchange Composite Index rose 1.95% to 4,163.93

Taiwan Stock Exchange Weighted Index rose 0.9% to 9,625.98

Korea Stock Exchange KOSPI Index rose 0.48% to 2,130.18

Straits Times Index STI fell 0.25% to 3,531.12

Crude oil (WTI) fell two cents to US$56.37 and Brent 30 cents to US$63.02.

Spot gold fell 44 cents to US$1,202.14.