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Friday, March 18, 2016

Market Daily Report: FBM KLCI bullish after Fed's rate on hold and oil rally continue

FBM KLCI jumped 13.15 points to close at 1,716.34

The FBM KLCI saw a strong trading day today as the market jumped 13.15 points to close at its intraday high of 1,716.34. 

The uptrend was in line with the regional market after the US Fed decided to keep rate on hold. The decision, reached at a two-day Federal Open Market Committee (FOMC) meeting that begun on Tuesday, resulted in renewed investor confidence in emerging markets.

Across the regional market, Hong Kong's Hang Seng index was up 167.82 points or 0.82%, South Korea's KOSPI rose 4.13 points or 0.21%, and Singapore's Straits Times Index gained 15.07 points or 0.52%.

Japan's Nikkei 225, however, was down 211.57 points or 1.25% while the Stock Exchange of Thailand slipped 0.43 points or 0.03%.

According to Reuters, Asian shares edged higher on Friday as oil touched a 2016 high.

Today, FBM KLCI saw 2.03 billion shares, valued at RM2.98 billion, traded.

There were 538 gainers against 349 losers, while 317 counters were unchanged.

The day's top gainers were Panasonic Manufacturing Malaysia Bhd, Petronas Gas Bhd, Pos Malaysia Bhd, Malaysia Airports Holdings Bhd and Scientex Bhd.

Losers included Nestle (M) Bhd, BLD Plantation Bhd, Latitude Tree Holdings Bhd and Kossan Rubber Industries Bhd.

The most actively traded counter was SMTrack Bhd, with 77.64 million shares changing hands.

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