Malaysia Market Watch 26th July 2012
KUALA LUMPUR – The FBM KLCI rose in early trade on Thursday, in line with gains art key regional markets on improving sentiment. At 9.10am, the FBM KLCI was up 3.56 points to 1,638.65.
Gainers led losers by 146 to 51, while 121 counters traded unchanged. Volume was 62.98 millin shares valued at RM40.57 million.
Asian shares and the euro steadied on Thursday after bouncing from recent lows as hopes grew for more U.S. stimulus to support growth and new European policy measures to keep the euro zone’s debt crisis from deepening further, but sentiment was fragile.
The euro rose against the dollar for the first time in six days on Wednesday, while data showing new U.S. home sales posted their biggest drop in over a year in June and prices resumed their downward trend reinforced views the Federal Reserve would consider more easing steps to underpin a delicate U.S. recovery.
Among the early gainers were Aeon Credit, Petronas Dagangan, Tenaga, Oldtown, TAS Offshore, Carlsberg, Mudajaya, CBIP and Hong Leong Bank.