#Mid-morning market* Limited gains for KLCI, stays above 1,690-level

  • Karpal’s faithful aide until the end – Bernama
    Karpal’s faithful aide until the end – Bernama

    The name Michael Cornelius Selvam Vellu may not be as famous as the man he was serving – renowned lawyer Karpal Singh – but his sacrifice will remain in the annals of Malaysian history for his devotion to his boss. It would be suffice to say that Michael was literally the man behind Karpal, since the 39-year-old, would push his boss around in... …

  • Johor quarantines 64 villagers after first MERS death, says report
    Johor quarantines 64 villagers after first MERS death, says report

    Malaysia has quarantined 64 people in a southern village after one of its residents become the country's first person to die of a respiratory illness that is spreading from the Middle East, local media reported today. At least 71 people have died from the so-called Middle East Respiratory Syndrome, or MERS, out of more than 200 infections in... …

  • Water theft cost us RM1.6 billion a year, says body – Bernama
    Water theft cost us RM1.6 billion a year, says body – Bernama

    Water from leaking pipes and water theft, collectively known as “non-revenue water” (NRW), accounted for major losses amounting to RM1.6 billion a year throughout the country. Association of Water and Energy Research Malaysia (Awer) president S. Piarapakaran said the loss of treated water before it reached consumers because of leaks in old... …

  • Above all, Karpal was a great father
    Above all, Karpal was a great father

    For as long as I have been aware of this thing called “politics,” I have been aware of Karpal Singh. As a boy, my image of him was often humorous, based as they were on classic Lat cartoons. A particular favourite has Mr Karpal looking gigantic in full court regalia holding aloft a coconut scrapper with one superhuman hand while pointing... …

  • Muslims not encouraged to use ‘RIP’, says National Fatwa Council
    Muslims not encouraged to use ‘RIP’, says National Fatwa Council

    Hours after the death of Karpal Singh, Muslims were told by the National Fatwa Council today they were not encouraged to use the phrase “Rest in Peace" (RIP) to a non-Muslim because the term had Christian connotations. In a statement issued on its website, www.e-fatwa.gov.my, the National Fatwa Council said Muslims could express their... …

  • Amid furore over Karpal jibe, Perkasa distances itself from Zul Noordin
    Amid furore over Karpal jibe, Perkasa distances itself from Zul Noordin

    KUALA LUMPUR, April 17 — The right wing Malay group, Perkasa, has distanced itself from Datuk Zulkifli Noordin, who had earlier tweeted that the passing of veteran DAP politician Karpal Singh was... …

KUALA LUMPUR (Jan 10): The FBM KLCI remained in positive territory at mid-morning on Thursday, but gains were capped as investors remained cautious.

At 10am, the FBM KLCI edged up 0.50 points to 1,690.43.

Gainers led losers by 178 to 173, while 235 counters traded unchanged. Volume was 246.24 million shares valued at RM139.82 million.

Asian shares steadied on Thursday following an overnight rise in global equities on early optimism about U.S. earnings, but investors remained cautious ahead of China's trade data and the European Central Bank meeting later in the day, according to Reuters.

Global equities rose modestly on Wednesday after aluminium maker Alcoa Inc kickstarted the U.S. earnings season with a brighter outlook for global demand. U.S. agribusiness giant Cargill Inc followed with a four-fold increase in quarterly earnings on Wednesday, it said.

At the regional markets, Japan’s Nikkei 225 rose 0.60% to 10,641.70, Hong Kong’s Hang Seng Index gained 0.22% to 23,270.60, the Shanghai Composite Index up 0.40% to 2,284.35, Taiwan’s Taiex rose 0.41% to 7,770.39, and Singapore’s Straits Times Index edged up 0.27% to 3,228.95, while South Korea’s Kospi fell 0.08% to 1,990.13.

M&A Securities Research in a note Thursday said that institutional buying dominated trade a day earlier when volume rose slightly to 1.1 billion from 1.03 billion but value traded dropped to RM1.59 billion from RM1.7 billion.

The research house said that for defensive strategy, it advocated investors to switch from high Betas like Property, Construction and Finance stocks to low Betas like Consumer, Plantation, Oil & Gas, Telco, Education, Healthcare and Rubber counters.

“Amongst the finance stocks, only Public Bank and Hong Leong are most likely more defensive than the other big cap finance stocks,” it said.

Among the gainers at mid-morning on Bursa Malaysia, KLK rose 14 sen to RM22.68, Takaful, DRB-Hicom, Aeon Credit and BAT added 10 sen each to RM5.71, RM2.73, RM12.10 and RM60.98 respectively. Hing Yp and Mudajaya rose seven sen each to RM2.70 and RM2.75, Paramount six sen RM1.61 and Eversendai five sen to RM1.33.

The losers included Lafarge Malayan Cement, Tasek, Genting, Milux, AirAsia, Genting Property, KSL, PPB and Kotra.

The actives included Etitech, Flonic, Silver Bird, DRB-Hicom, Scomi and Nextnation.

 

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  • My dad was in KL to see me, says Gobind The Malaysian Insider
    My dad was in KL to see me, says Gobind

    Bukit Gelugor MP Karpal Singh, who died in an accident early this morning, was in Kuala Lumpur to visit his son Gobind Singh Deo who was ill. A distraught Gobind said he was informed of the accident at 2.15am today, and he and his wife rushed to the scene where he saw his father's mangled car and his father's body. "My brother Ramkarpal was... …

  • Langkawi BN MP pokes fun at Karpal Singh’s remains The Malaysian Insider
    Langkawi BN MP pokes fun at Karpal Singh’s remains

    As the nation mourns the passing of a great politician, BN MP Datuk Nawawi Ahmad insulted the late Karpal Singh by posting a picture of the veteran politician's blood-smeared face as he lay in his Toyota Alphard following a tragic accident this morning. Along with the Facebook picture was a newspaper cutting on Karpal being opposed to the... …

  • ‘Huge’ Hindu, Buddhist statues against Islam, ex-judge says The Malay Mail Online
    ‘Huge’ Hindu, Buddhist statues against Islam, ex-judge says

    KUALA LUMPUR, April 16 — The “huge” statues at a Hindu temple in Batu Caves and Buddhist temple in Penang are an affront to Islam as the religion forbids idolatry, a retired Court of Appeals judge... …