The FBM KLCI marginally rose by 0.77 points to 1,671.32 points at the midday close as major Asian and emerging market held steady ahead of Friday's US payrolls data which could determine the likelihood of an interest rate hike by the Federal Reserve.
The benchmark index had earlier risen to 1,675.39 points this morning before subsequently paring down the gains.
As at 1230PM, total turnover for the KLCI was at 700.65 million shares valued at RM547.25mil.
The broader market saw gainers outnumbering decliners slightly. There were 353 gainers to 330 gainers and 324 counters unchanged.
Regional markets including the FBM KLCI have largely remained subdued over the past few weeks with muted price swings. However, since Aug 16, the Malaysian index has fallen by about 12 points.
Meanwhile, the ringgit sharply weakened to RM4.0863 against the greenback compared to RM4.0795 yesterday, or the lowest since late June.
Positive figures from Friday's US non-farm payrolls data could support the case for an interest rate hike. Federal Reserve Vice Chairman Stanley Fischer said this week that upcoming economic reports will ultimately determine the trajectory of interest rate increases, Bloomberg reported.
Bets on a September rate increase were lower on Thursday as the US manufacturing gauge signaled a contraction for the first time in six months. Futures prices indicate a 34% chance of an interest rate hike in September, down from 42% at the end of last week.
US crude prices rose 22 US cents and was last traded at US$43.38 per barrel. Brent crude rose 24 US cents to US$45.69 per barrel.
At Bursa Malaysia, Public Bank contributed 0.64 points to the KLCI's advance as the stock rose 10 sen to RM19.86 at the midday close. However, DiGi and Tenaga Nasional contributed declines of 0.38 points and 0.37 points respectively to the index.
Among the banks, Maybank rose three sen to RM7.78 while CIMB gained two sen to RM4.78. AmBank fell two sen to RM4.30.
Crude palm oil’s benchmark third-month contract for December delivery rose RM47 to RM2,534 per tonne.
Among the plantation companies in the KLCI, Sime Darby was unchanged at RM7.82 while KL Kepong rose four sen to RM23.62.
Among the key regional markets:
Japan’s Nikkei 225 fell 0.44% to 16,851.99 ;
Hong Kong’s Hang Seng Index rose 0.35% to 23,243.87 points;
Shanghai Composite Index rose 0.07% to 3,065.52;
Taiwan’s Taiex fell 0.18% to 8,985.14 ;
South Korea’s Kospi rose 0.24% to 2,037.66 ;
Singapore’s Straits Times Index fell 0.3% to 2,808.10 points.
Spot gold rose by 40 cents to US$1,314.29 per troy ounce.
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The benchmark index had earlier risen to 1,675.39 points this morning before subsequently paring down the gains.
As at 1230PM, total turnover for the KLCI was at 700.65 million shares valued at RM547.25mil.
The broader market saw gainers outnumbering decliners slightly. There were 353 gainers to 330 gainers and 324 counters unchanged.
Regional markets including the FBM KLCI have largely remained subdued over the past few weeks with muted price swings. However, since Aug 16, the Malaysian index has fallen by about 12 points.
Meanwhile, the ringgit sharply weakened to RM4.0863 against the greenback compared to RM4.0795 yesterday, or the lowest since late June.
Positive figures from Friday's US non-farm payrolls data could support the case for an interest rate hike. Federal Reserve Vice Chairman Stanley Fischer said this week that upcoming economic reports will ultimately determine the trajectory of interest rate increases, Bloomberg reported.
Bets on a September rate increase were lower on Thursday as the US manufacturing gauge signaled a contraction for the first time in six months. Futures prices indicate a 34% chance of an interest rate hike in September, down from 42% at the end of last week.
US crude prices rose 22 US cents and was last traded at US$43.38 per barrel. Brent crude rose 24 US cents to US$45.69 per barrel.
At Bursa Malaysia, Public Bank contributed 0.64 points to the KLCI's advance as the stock rose 10 sen to RM19.86 at the midday close. However, DiGi and Tenaga Nasional contributed declines of 0.38 points and 0.37 points respectively to the index.
Among the banks, Maybank rose three sen to RM7.78 while CIMB gained two sen to RM4.78. AmBank fell two sen to RM4.30.
Crude palm oil’s benchmark third-month contract for December delivery rose RM47 to RM2,534 per tonne.
Among the plantation companies in the KLCI, Sime Darby was unchanged at RM7.82 while KL Kepong rose four sen to RM23.62.
Among the key regional markets:
Japan’s Nikkei 225 fell 0.44% to 16,851.99 ;
Hong Kong’s Hang Seng Index rose 0.35% to 23,243.87 points;
Shanghai Composite Index rose 0.07% to 3,065.52;
Taiwan’s Taiex fell 0.18% to 8,985.14 ;
South Korea’s Kospi rose 0.24% to 2,037.66 ;
Singapore’s Straits Times Index fell 0.3% to 2,808.10 points.
Spot gold rose by 40 cents to US$1,314.29 per troy ounce.
Click here for Free Signals OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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