Thursday 28 Mar 2024
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KUALA LUMPUR (June 10): The FBM KLCI rose at mid-morning today, lifte by select blue chips despite the weaker regional sentiment.

At 10am, the FBM KLCI rose 4.86 points to 1,733.91.

The top gainers included Kuala Lumpur Kepong Bhd, British American Tobacco (M) Bhd, Genting Plantations Bhd, Petronas Dagangan Bhd, NCB Holdings Bhd, Telekom Malaysia Bhd, C.I. Holdings Bhd, Hong Leong Financial Group Bhd, Harbour-Link Group Bhd and Syarikat Takaful Malaysia Bhd.

The actively traded stocks included Vsolar Group Bhd, Naim Indah Corporation Bhd, AirAsia X Bhd, Kanger International Bhd, KNM Group Bhd and Frontken Corporation Bhd.

The top losers included Panasonic Malaysia Manufacturing Bhd, United Plantations Bhd, Aeon Credit Services (M) Bhd, Public Bank Bhd, Gas Malaysia Bhd and Kossan Rubber Industries Bhd.

Asian shares languished near three-month lows on Wednesday as the spectre of higher borrowing costs in the United States and concerns about the apparent lack of progress in talks between Greece and its creditors sapped confidence,according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent in early trade after having slipped to a three-month low the previous day. Japan's Nikkei was up 0.4 percent, after big fall on Tuesday to three-week lows, it said.

Hong Leong IB Research said given the lack of fresh catalysts and nagging domestic issues, the FBM KLCI is likely to engage in an extended consolidation in the short term.

“Key resistances are 1746-1769 zones.

“Nevertheless, after nose-diving 7.4% or 138 points in six weeks from yer-to-date high of 1867 (27 Apr) to 1729 yesterday, the FBM KLCI should attempt to stabilise at current levels, given the presence of local funds support ahead of the widely-anticipated June window dressing and oversold technical momentum.

“Major supports are near 1700-1717,” it said.

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