Friday 29 Mar 2024
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KUALA LUMPUR (May 4): The FBM KLCI started off on a flat note this morning but was seen trading cautiously with a downward bias in line with regional markets.

At 9.05am, the FBM KLCI added 0.07 points to 11,851.87.

The early gainers included Nestle (M) Bhd, Petronas Dagangan Bhd, Kuala Lumpur Kepong Bhd, DiGi.Com Bhd, Favelle Favco Bhd, PM Technology Bhd, Telekom Malaysia Bhd, Puncak Niaga Holdings Bhd and SP Setia Bhd.

Asian shares were steady while the Japanese yen held onto overnight gains in early trading on Friday as financial markets turned their attention to the looming U.S. payrolls data for fresh catalysts, according to Reuters.

Investors were cautious after a largely weak performance on Wall Street overnight as some disappointing earnings reports offset strong economic data, while bond yields slid after a surprising slowdown in euro zone inflation, it said.

JF Apex Securities Research in a market preview said US markets ended flat after rebounding from intraday losses amid strong earnings and trade talk between US and China.

It said that earlier, European stocks declined following lower-than-expected inflation and quarterly results.

“On the local bourse, the FBM KLCI ended flat after shedding 0.23 points to 1851.80 points.

“Following the mixed performance in the US and Europe, the FBM KLCI is expected to remain sideways above the support of 1835 points,” it said.

 

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