Saturday 20 Apr 2024
By
main news image

KUALA LUMPUR (April 17): The FBM KLCI retreated in early trade this morning on some mild profit taking, dragged by select index-linked blue chips.

At 9.05am, the FBM KLCI fell 4.34 points to 1,874.42.

The early decliners included Sime Darby Plantation Bhd, SP Setia Bhd, George Kent (M) Bhd, Maxis Bhd, Tenaga Nasional Bhd, MISC Bhd, Genting Malaysia Bhd and Tong Herr Resources Bhd.

Asia stocks edged higher on Tuesday, tracking Wall Street gains as the focus shifted to corporate earnings and looming economic data from China amid signs Western-led strikes on Syria weren't likely to escalate, according to Reuters.

The dollar pulled back along with safe-haven U.S. Treasuries as investor risk appetite improved in the broader markets, it said.

JF Apex Securities Research in a market preview said US markets advanced overnight due to easing concerns over the conflict in Syria and better-than-expected quarterly earnings.

It said that earlier, European stocks declined following political concerns on Syria.

“On the local market, the FBM KLCI surged 10.29 points to 1878.76 points.

“Following the positive performance in Wall Street, the FBM KLCI could retest its resistance of 1880 points,” it said.

      Print
      Text Size
      Share