Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 21): The FBM KLCI breached the 1,720-point level in early trade this morning as it advanced in line with regional markets.

At 9.05am, the FBM KLCI rose 1.96 points to 1,720.32.

The early gainers included Nestle (M) Bhd, Asia File Corp Bhd, Malaysia Airports Holdings Bhd, Petron Malaysia Refining & Marketing Bhd, Tenaga Nasional Bhd, Degem Bhd, Star Media Group Bhd, Prestar Reources Bhd, IHH Healthcare Bhd and Malton Bhd.

Asian stocks edged higher on Tuesday as investors took heart from further evidence of strength in the global economy, while the dollar hovered near a one-week high against its peers thanks to higher U.S. yields and a floundering euro, according to Reuters.

Gains on Wall Street overnight also helped MSCI's broadest index of Asia-Pacific shares outside Japan tack on 0.15 percent, it said.

JF Apex Securities Research in a market preview said US markets advanced overnight on hopes of tax reform will lower corporate tax.

It said that similarly, European stocks rose led by automotive, healthcare and media counters despite decline in Euro and political uncertainty in Germany.

“On the local market, the FBM KLCI dropped 3.30 points to 1718.36 points.

“Following the bearish momentum, the FBM KLCI is expected to remain pressured with support at 1,700 points,” it said.

 

 

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