Friday 29 Mar 2024
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KUALA LUMPUR (Feb 13): The FBM KLCI rose with Asian shares after US stocks' overnight gain. At Bursa Malaysia today, the KLCI opened 3.41 points or 0.2% higher at 1,833.58 at 9am.

At 9:07am, the KLCI was traded at 1,832.32. "Given the cautious buying momentum at current levels, profit-taking resistance should likely increase towards 1,840, mirroring the 9 Jan high, with the 2 Feb peak of 1,880 acting as a formidable hurdle," TA Securities Holdings Bhd wrote in a note today.

Across Asian stock markets, Japan's Nikkei 225 added 0.93%, South Korea's Kospi rose 0.51% while Australia's
S&P/ASX 200 was 0.3% higher. Reuters reported that Asian stocks pulled further away from two-month lows on Tuesday, lifted by Wall Street's extended rebound from last week's steep fall.  

Wall Street's three major indexes rebounded on Monday with broad-based gains as investors regained some confidence after US equities' biggest weekly drop in two years, but strategists stopped short of calling an end to the market pullback. The Dow Jones Industrial Average rose 410.37 points or 1.7% to 24,601.27, the S&P 500 gained 36.45 points or 1.39% to 2,656 and the Nasdaq Composite added 107.47 points or 1.56% to 6,981.96.

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