Saturday 20 Apr 2024
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KUALA LUMPUR (July 25): The FBM KLCI got off to a muted start this morning despite the firmer start at most regional markets.

At 9am, the FBM KLCI rose 0.22 points to 1,657.64.

The early gainers included British American Tobacco (M) Bhd, Petronas Dagangan Bhd, Hong Leong Financial Group Bhd, Enra Group Bhd, Felda Global Ventures Holdings Bhd, My E.G. Services Bhd, Genting Malaysia Bhd and Kobay Technology Bhd.

Asian shares held near nine-month highs on Monday as worries over the impact of Britain's Brexit vote eased amid efforts to maintain growth, while the dollar was buoyed by a run of solid US economic data, according to Reuters.

Policy makers from the Group of 20 countries agreed to work to support global growth and better share the benefits of trade, in a weekend meeting dominated by the impact of Britain's exit from Europe and fears of rising protectionism, it said.

JF Apex Securities Research in a market preview today said US markets rose on Friday with the S&P hitting a record high after corporate results and positive manufacturing data.

However, it said European stocks were mixed after UK's PMI declined to its lowest since March 2009.

"On the local equity market, the FBM KLCI closed 0.12 points lower at 1,657.42 points after recovering from an intra-day low of 1,651.90 points.

"Following the mixed performance in the US and Europe, the FBM KLCI could continue its resilient performance and trend sideways below the resistance of 1,685 points," it said.

 

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