Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (March 2): The FBM KLCI got off to a steady start in March, rising in early trade on Monday in line with key regional markets.

At 9am, the FBM KLCI rose 1.70 points to 1,822.91, lifted by key blue chips including Petronas Gas Bhd, Tenaga Nasional Bhd and Public Bank Bhd.

The top gainers included Petronas Gas, British American Tobacco (M) Bhd, Public Bank, Carlsberg Brewery (M) Holdings Bhd, C.I. Holdings Bhd, KSL Holdings Bhd, Can-One Bhd, Tenaga Nasional and Unisem (M) Bhd.

Asian stocks got off to a steady start on Monday as soft U.S. data was partially offset by a weekend interest rate cut by China, while the dollar hit a five-week high against the euro, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent and Tokyo's Nikkei rose 0.3 percent. South Korean and Australian shares also gained, it said.

JF Apex Securities Research in a market preview Monday said US markets closed slightly lower after 4th quarter GDP and higher oil price.

Meanwhile, it said European stocks finished higher ahead of European Central Bank's quantitative easing program.

“On the local market, the FBM KLCI closed 0.34 points higher at 1821.21 points on Friday after recovering from an intra-day low of 1811.74 points.

“We expect the index to test its resistance of 1830 points following the recent uptrend momentum,” it said.

      Print
      Text Size
      Share