Thursday 28 Mar 2024
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KUALA LUMPUR (April 7): The FBM KLCI rose 0.71% at mid-morning today lifted by Petronas-linked counters and select blue chips.

At 10am, the FBM KLCI rose 13.28 points to 1,856.41.

The top gainers included MISC Bhd, Petronas Dagangan Bhd, Petronas Gas Bhd, Nestle (M) Bhd, Amway (M) Holdings Bhd, Public Bank Bhd, Aeon Credit Services (M) Bhd, Telekom Malaysia Bhd, Only World Group Holdings Bhd, Syarikat Takaful Malaysa Bhd and LTKM Bhd.

The actively traded stocks included Ingenuity Consolidated Bhd, Sumatec Resources Bhd, Takaso Resources Bhd, Tiger Synergy Bhd, Perisai Petroleum Teknologi Bhd, APFT Bhd and KNM Group Bhd.

The top losers included British American Tobacco (M) Bhd, Adventa Bhd, Hap Seng Consolidated Bhd, TuneIns Holdings Bhd, Subur Tiasa Holdings Bhd and MMC Corporation Bhd.

Asian stocks followed a positive lead from Wall Street to rise on Tuesday, while the dollar held its gains after rebounding against the euro and yen on higher U.S. Treasury yields, according to Reuters.

The region's focus fell on the Reserve Bank of Australia's policy decision due later in the session. Expectations are that the central bank would further cut interest rates in the wake of falling prices of iron ore, the country's biggest export, it said.

JF Apex Securities Research said US markets rose as weaker employment data translated into potential delay in interest rate hike.

“On the local front, the FBM KLCI rose 8.42 points to 1842.94 points.

“Asian stocks are expected to open mixed today following central bank decisions in Australia and India.

“We expect the FBM KLCI to test its resistance of 1845 points following its recent positive momentum,” it said.

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