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Kuala Lumpur, January 25 – Bursa Malaysia ended in a pale red on Wednesday with the bell-weathered FBM KLCI skid slightly lower by 0.88 point or -0.06% at 1,499.45. The index was pressured by profit-taking on selected heavyweights as the 1503 point remains strong resistance level.

Most of the Asian bourses ended in bullish note today whilst China, Hong Kong and Taiwan stock markets closed to celebrate Chinese New Year.

Meanwhile, Singapore’s Straits Times index led the gains by jumping 1.57% higher after earlier hitting its highest since May 5. The STI was lifted by the three Singaporean banks (DBS, UOB and OCBC) with DBS leading the gains. While Keppel Corp, Singapore Airlines, and ST Engineering shares also performed well.

Korea’s Kospi Index also made a roaring performance by climbing 1.39% at 2,428.57. The rise was due to a catchup move after the Lunar New Year holidays.

Japanese stocks have extended their rally with the Nikkei 225 rose 0.35% to hit a new 1-month high. Nikkei 225 Index was lifted by gains in the Communication, Machinery and Transportation Equipment sectors.

Japanese stocks have turned bullish as Japan’s officials are keen to spur economic growth and wages by continuously pumping money to spurt the growth rate. While for wage rate increment, a former Bank of Japan (BoJ) Chief Economist said in an interview that the BoJ will have to wait until August to gain good insight into whether wage increases are gaining traction.

** The FTSE BM KLCI opened at 1,501.30. The index fluctuated between 1,494.73 – 1,501.86

** 578 counters are gainers, 399 counters are unchanged, while 262 counters are decliners.

** Total volume of 2.834 billion shares changed hands; while Turnover of RM 1.675 billion

** The Top 5 Gainers: HEIM (27.84, +0.92); FANG-2XL (5.79, +0.71); HEXTECH (24.32, +0.62); CARLSBG (23.44, +0.30); MPI (33.72, +0.28)

** The Top 5 Losers: F&N (23.90, -0.38); UTDPLT (15.46, -0.22); KLUANG (3.85, -0.20); PETGAS (17.08, -0.20); MISC (7.20, -0.19)

** The Top 5 Active: SAPNRG (0.05, 0.00); ATAIMS (0.295, +0.09); DATAPRP (0.265, +0.045); VELESTO (0.22, +0.02); CYPARK (0.84, 0.15)

Singapore’s Straits Times Index (STI) surged 51.86 points or +1.57% to 3,345.57; Japan’s Nikkei 225 index rose 95.82 points or +0.35% at 27,395.01; Korea’s Kospi Index gained 33.31 points or +1.39% at 2,428.57; Australia’s S&P/ASX 200 Index shed 22.10 points or -0.30% at 7,468.30.

Asian Bourses Mostly Higher with Singapore’s STI Led the Gains by Soaring 1.57% – BusinessToday

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