FKLI Related News (Mon, Apr 29)

(Reuters) - Stocks dipped in thin volume on Friday, though the market had a strong week overall despite a mixed bag of earnings and weak economic figures. Shares of online retailer Amazon.com Inc (AMZN.O) posted the largest daily drop in 15 months after the company reported results late on Thursday. It was Friday's biggest drag on the S&P 500 and Nasdaq indexes. Gains in shares of Chevron Corp (CVX.N) buoyed the blue-chip Dow industrials. The market fell early after a negative surprise from the gross domestic product report, but the decline attracted bargain-hunting investors late in the session. Major indexes posted solid gains for the week.

J.C. Penney Co (JCP.N) was the S&P 500's biggest percentage gainer, up 11.5 percent to $17 after CNBC reported Goldman Sachs lined up a $1.75 billion loan for the retailer. The news added to previous gains a day after investor George Soros reported a 7.9 percent passive stake in the company. The Dow Jones industrial average .DJI rose 11.75 points or 0.08 percent, to 14,712.55, the S&P 500 .SPX lost 2.92 points or 0.18 percent, to 1,582.24 and the Nasdaq Composite .IXIC dropped 10.72 points or 0.33 percent, to 3,279.26. For the week, the Dow gained 1.1 percent, the S&P added 1.7 percent and the Nasdaq rose 2.3 percent. The S&P traded Thursday within a point of its historic closing high set earlier this month and the 1,593 level is expected to be technical resistance in the near future. About 5.7 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, below the daily average so far this year of about 6.4 billion shares.           [Reuters]

KUALA LUMPUR, April 27 (Bernama) -- The FTSE Bursa 

Malaysia KLCI (FBM KLCI) is expected to stage a rally next week 

on optimism the current government will retain power post-general

 election, positive reversal in commodity prices, firm regional stock

 sentiment and strong performance of the ringgit following the 

influx of foreign funds, a dealer said. Affin Investment Bank Vice-

President/Head of Retail Research Dr Nazri Khan said as of last

 week, Malaysia's equity market attracted RM13.1 billion of foreign

 funds in the open market in less than four months compared with

 RM13.7 billion for the whole of 2012.          [Bernama]

The FBM KLCI index gained 4.95 points or 0.29% on Friday, 

which saw some investors cashing in on blue chips which propelled

 the FBM KLCI to close at the new all-time high of 1,711.29 points.

 The upsurge was mainly driven by the Finance Index, led by 

heavyweights Hong Leong Financial Group, AMMB Holdings and 

CIMB Group. Bargain hunting for quality stocks is expected to

 continue till GE.

FKLI spot month contract opened  slightly lower this morning at 

1,711.50. Today’s Support and Resistance for April contract is 

located around 1,700 and 1,720 respectively.