Thursday 28 Mar 2024
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KUALA LUMPUR (May 28): The FBM KLCI fell 0.85% in early trade this morning, dragged by losses including at Public Bank Bhd and Tenaga Nasional Bhd.

At 9.05am, the FBM KLCI fell 15.18 points to 1,782.22.

The decliners included Fraser & Neave Holdings Bhd, Petronas Dagangan Bhd, PPB Group Bhd, Public Bank Bhd, Power Root Bhd, Kobay Bhd. Top Glove Corp Bhd, Axiata Group Bhd, Tenaga Nasional Bhd and Perak Corp Bhd.

U.S. stock futures rose on Monday on signs that the United States and North Korea are still working towards holding a summit next month, while oil prices extended losses on expectations of more supply from major producers, according to Reuters.

The euro edged up from a 6-1/2-month low but is seen vulnerable after efforts to form a coalition government in Italy, the currency bloc's third-biggest economy, collapsed over the weekend, it said.

JF Apex Securities Research in a market preview said US markets ended slightly lower after President Trump had earlier cancelled a summit with North Korea.

It said that meanwhile, European stocks advanced amid political uncertainty in Italy and concerns on the US-North Korea summit.

“On the local market, the FBM KLCI surged 21.74 points to 1797.40 points after staging a sharp rebound.

“Following last week's rebound, the FBM KLCI could consolidate and hover below the resistance of 1850 points,” it said.

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