Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 23): The FBM KLCI edged up in early trade this morning but remained below its resitsance level of 1,730 points.

At 9.05am, the FBM KLCI was up 0.91 points to 1,724.45.

The early gainers included Lysaght Galvanized Steel Bhd, Hengyuan Refining Company Bhd, Oriental Holdings Bhd, Petronas Gas Bhd, DiGi.Com Bhd, KESM Industries Bhd, Petron Malaysia Refining & Marketing Bhd, Econpile Holdings Bhd, Petronas Chemicals Group Bdh and IJM Corp Bhd.

Asian shares edged ahead on Thursday as speculation the Federal Reserve might not tighten U.S. policy as aggressively as first thought slugged the dollar and boosted bonds globally, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.15 percent to scale a fresh 10-year peak. Activity was light with Japanese markets closed for a holiday and the United States off for Thanksgiving, it said.

JF Apex Securities Research in a market preview said US markets ended mixed with Nasdaq hitting a record high while the Dow Jones and S&P closed lower after the Federal Reserve minutes were released.

It said that earlier, European stocks ended mixed after UK's budget announcement while Germany's DAX plunged over 1%.

“On the local market, the FBM KLCI gained 2.86 points to 1723.54 points.

“Following this week's mild rebound, the FBM KLCI could still hover below the resistance of 1730 points,” it said.

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