Friday 26 Apr 2024
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KUALA LUMPUR (Oct 2): The FBM KLCI got off to a cautious start on the first trading day of the fourth quarter of 2017, in line with most regional markets.

At 9.05am, the benchmark index was up 0.14 points to 1,755.72.

The early gainers included Genting Plantations Bhd, Heineken Malaysia Bhd, Dutch Lady Milk Industries Bhd, Aeon Credit Servive (M) Bhd, Kossan Rubber Industries Bhd, Hengyuan Refining Company Bhd, Pentamaster Corp Bhd, Cypark Resources Bhd and Harrisons Holdings (M) Bhd.

The euro took a brief knock in Asia on Monday as investors kept an anxious eye on an independence vote in Spain's Catalonia, although surprisingly strong economic news out of China and Japan offered support to equities and commodities, according to Reuters.

The euro fell around a third of a U.S. cent after the violence-marred vote to as low as $1.1776 in early Asian trade but soon steadied at $1.1800. Liquidity was very thin with Chinese and Sydney markets on holiday, it said.

JF Apex Securities Research in a market preview today said US markets advanced to record highs on Friday led by technology counters.

It said European stocks also climbed following improved investor sentiment after earlier geopolitical tension in North Korea.

“On the local market, the FBM KLCI lost 2.48 points to 1755.58 points to extend its selldown.

“Following the bearish momentum, the FBM KLCI could remain pressured and trend lower towards the support of 1750 points,” it said.

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