Friday 29 Mar 2024
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KUALA LUMPUR (Sept 18): The FBM KLCI opened lower this morning, weighed by losses and key blue chips.

At 9.01am, the FBM KLCI shed 2.61 points to 1.783.72.

The top losers included Hong Leong Bank Bhd, Top Glove Corp Bhd, Ajinomoto (M) Bhd, Lotte Chemical Titan Holding Bhd, Telekom Malaysia Bhd, CIMB Group Holdings Bhd, Sime Darby Bhd, Sunway Bhd and Superlon Holdings Bhd.

Asian shares crept ahead and the dollar firmed on Monday in a cautious start to a week in which the U.S. Federal Reserve is likely to wrestle with its bloated balance sheet as part of a long reversal of super-cheap money worldwide, according to Reuters.

While there was relief the weekend passed with no new provocation by North Korea, Pyongyang’s nuclear ambitions will be center stage when U.S. President Donald Trump addresses world leaders at the United Nations on Tuesday, it said.

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

However, it said European stocks tumbled after North Korea fired another missile over Japan and a terrorist attack in London.

“On the local market, the FBM KLCI gained 4.96 points to 1786.33 points after a last minute surge.

“Following the mixed performance in the US and Europe, the FBM KLCI could remain sideways below the resistance of 1800 points,” it said.

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