Thursday 28 Mar 2024
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KUALA LUMPUR (July 24): The FBM KLCI edged higher in early trade today, but gains are seen limited in line with tepid sentiment at most regional markets.

At 9.05am, the FBM KLCI added 0.80 points to 1,759.96.

The early gainers included Kuala Lumpur Kepong Bhd, HCK Capital Group Bhd, Tubo-Mech Bhd, Carlsberg Brewery Malaysia Bhd, Public Bank Bhd, Hengyuan Refining Company Bhd, Muhibbah Engineering (M) Bhd, Mega First Corp Bhd, Telekom Malaysia Bhd and Kawan Food Bhd.

Asian stocks slipped on Monday as demand for riskier assets ebbed after recent strong gains, while the euro's near-two-year high on the European Central Bank's seeming lack of concern about its strength left the dollar languishing near a 13-month low, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1 percent early on Monday, it said.

JF Apex Securities Research in a market preview today said US markets ended lower on Friday dragged by industrial and energy counters.

It said that earlier, European stocks tumbled sharply after the Euro appreciated to a two-year high against the US dollar.

“On the local bourse, the FBM KLCI gained 3.53 points to 1759.16 points.

“Following the bearish performance in the US and Europe, the FBM KLCI could continue to trend sideways above the support of 1750 points,” it said.

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