FBM KLCI wobbles, focus on small cap. FKLI slightly higher..

Share prices on Bursa Malaysia ended on a mixed note at midday on Tuesday on persistent buying interest in lower-priced and selected heavyweight stocks, dealers said.

The benchmark index on Bursa Malaysia decline, but a measure of smaller sized counters advanced to a fresh year high on Tuesday, as investors trawled the market for hot stocks and laggards.

The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) ended the morning session at 1,185.49, down 2.51 points or 0.211 percent, after opening 0.98 of a point higher at 1,188.98 this morning.
Dealers said the market would maintain the current level due to firm buying interest.
The FBM KLCI moved between the 1,184.87 and 1,188.98 levels during the morning session.

Maybank Investment Bhd said now would be the time for mid-cap and lower-priced stocks to surge and shine, since blue chips had surged to high levels.

The investment bank said the FBM KLCI should be supported at the 1,170 and 1,188 levels, whilst the resistance zone would be capped at 1,191 and 1,205.

Yesterday, the FBM KLCI Index rose for a third day to 1,188.00, the highest close since June 27, last year.
At noon break, the Finance Index increased 14.61 points to 9,731.4, the Plantation Index rose 14.73 points to 5,781.08 and the Industrial Index fell 13.81 points to 2,594.95.

The FBMEmas Index lost 13.81 points to 8,038, the FBM Top 100 decreased 19.79 points to 7,791.9 and the FBM ACE Index was 25.59 points higher at 4,203.49.

Gainers outnumbered losers by 361 to 250 while 206 counters were unchanged and 442 others still untraded.
Turnover stood at 601.705 million shares worth RM754.213 million.
Volume leaders were KNM Group which rose 1.5 sen to 84 sen, LCL Corporation rose 1.2 sen to 84.5 sen and Hovid gained a sen to 28.5 sen. Of the heavyweights, Axiata rose six sen to RM3.16, RHB Capital was 20 sen higher at RM4.90 and AMMB Holdings was 11 sen higher at RM4.29.
Meanwhile, Matrix International Bhd would be traded and quoted under a new name and new stock short name, Berjaya Assets Bhd and BJASSET, respectively.

FBM KLCI Futures >>> Higher at midday

The FTSE Bursa Malaysia Kuala LumpurComposite Index (FBM KLCI) futures contracts were slightly higher at the midday session today on buying interest amid positive investor sentiment, dealers said.

The spot month August 2009 contract increased 1.5 points to 1,180.5 whileSeptember 2009 rose 1.0 point to 1,179.5, December 2009 went up 2.5 points to1,172.5 and March 2010 increased 1.5 points to 1,165.5. Volume stood at 2,234 lots while open interests totaled 21,956 contracts. On the cash market, the FBM KLCI was down 2.51 points at 1,185.49.