KLCI rises 0.35%, Eversafe makes solid debut

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KUALA LUMPUR (April 21): The FBM KLCI rose 0.35% at mid-morning today, lifted by CIMB Group Holdings Bhd, Malayan Banking Bhd and Genting Malaysia Bhd, while Eversafe Rubber Bhd made a solid debut on the ACE Market of Bursa Malaysia and was among the most actively traded stocks.

At 9.59am, the FBM KLCI rose 6.11 points to 1,747.72.

The top gainers included Petronas Gas Bhd, REV Asia Bhd, Harrisons Holdings (M) Bhd, Scientex Bhd, Bursa Malaysia Bhd, CIMB, Malaysian Pacific Industries Bhd, ViTrox Corp Bhd, Maybank and Genting Malaysia.

The actives included Eversafe, Key Alliance Group Bhd, Iris Corp Bhd, Perwaja Holdings Bhd, Malaysia Building Society Bhd, Tiger Synergy Bhd, Trive Property Group Bhd and Anzo Holdings Bhd.

The decliners included British American Tobacco (M) Bhd, HCK Capital Group Bhd, Ajinomoto (M) Bhd, Tenaga Nasional Bhd, Heineken Malaysia Bhd, IQ Group Holdings Bhd, Prestariang Bhd and HIL Industries Bhd.

Asian stocks rose, lifted by bets on strong US earnings and US tax reform, while the euro retreated from a three-week high as jitters returned over the first round of French presidential elections on Sunday after a shooting in Paris, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.25%. It is set to end the week 0.6% lower, it said.

Hong Leong IB Research said that in the US, investors continue to be on the lookout for buying opportunities after solid corporate results were reported.

"We opine that the direction of US stock markets will be dictated by the ongoing reporting season with the Dow's range envisaged around 20,500–20,777.

"Shares on the local front may get a sentiment booster following the triple-digit gains on the overnight Dow, the FBM KLCI is likely to retest the 1,743–1,750 levels amid recovering buying interest," it said.