KLCI edges higher, tracks regional gains

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KUALA LUMPUR (April 16): The FBM KLCI edged higher this morning in line with the positive start at most regional markets.

At 9.05am, the FBM KLCI added 1.11 points to 1,869.58.

The early gainers included Dutch Lady Milk Industries Bhd, Petronas Dagangan Bhd, Supermax Corp Bhd, Heineken Malaysia Bhd, Tower REIT, Gopeng Bhd, Eng Kah Corp Bhd and Sime Darby Plantation Bhd.

Share markets started firmer in Asia on Monday amid relief U.S.-led strikes on Syria looked like being a one-off event that avoided a direct confrontation with Russia, weighing on oil prices and safe-haven Treasuries, according to Reuters.

EMini futures for the S&P 500 sprang 0.6 percent higher in early trade, while Japan's Nikkei added 0.3 percent, it said.

JF Apex Securities Research in a market preview US markets ended slightly lower despite strong quarterly earnings by banking counters that exceeded expectations.

It said European stocks closed marginally higher amid the reporting season.

“On the local market, the FBM KLCI lost 5.15 points to 1868.47 points.

“Following the mixed performance in the US and Europe, the FBM KLCI is expected to hover sideways below the resistance of 1880 points,” it said.