Friday 03 May 2024
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KUALA LUMPUR (June 22): The FBM KLCI pared some of its gains at mid-morning today and saw limited gains despite the firmer regional markets.

At 10.01am, the FBM KLCI was up 0.90 points to 1,776.47. The index had earlier risen to 1,778.22.

The top gainers included British American Tobacco (M) Bhd, SAM Engineering & Equipment (M) Bhd, Malaysian Pacific Industries Bhd, Ajinomoto (M) Bhd, Bursa Malaysia Bhd, PMB Technology Bhd, Genting Bhd, Superlon Holdings Bhd and JF Technology Bhd.

The actives included Frontken Corp Bhd, Iris Corp Bhd, Nexgram Holdings Bhd, Hibiscus Petroleum Bhd, Johan Holdings Bhd, Bumi Armada Bhd and AirAsia X Bhd.

The decliners included Panasonic Manufacturing Malaysia Bhd, Petron Malaysia Refining & Marketing Bhd, Hengyuan Refining Company Bhd, New Hoong Fatt Holdings Bhd, HCK Capital Group Bhd, Genting Plantations Bhd and MISC Bhd.

Asian stocks advanced on Thursday as oil prices inched up after hitting a 10-month low overnight on concerns over a supply glut and falling demand, dragging US and European shares lower, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2%, it said.

Hong Leong IB Research in a traders' brief today said the overseas market ended on a lower note, but both the Dow and S&P500 have retested the upward trend line of 21,410 and 2,432 respectively.

"The Dow could be due for a technical rebound towards the 21,500, while S&P500's resistance will be located around 2,453.

"Meanwhile, on the local front, after the bear camp has dominated over the past three trading days, we expect buying interest to emerge amid bargain-hunting activities but may be capped by concern over oil prices. Tech stocks may trend higher amid higher Nasdaq movement," it said.

 

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