Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 24): The FBM KLCI kicked off the week today on a muted note in the aftermath of the tabling of Budget 2017 last Friday.

At 9.10am, the FBM KLCI fell 2.35 points to 1,667.63.  

The top losers included British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Hap Seng Consolidated Bhd, Alliance Financial Group Bhd, Pharmaniaga Holdings Bhd, Luxchem Corp Bhd, Berjaya Auto Bhd, Telekom Malaysia Bhd and Berjaya Sports Toto Bhd.

Asian stocks were subdued early on Monday after Wall Street's sluggish performance at the end of last week, while the dollar hovered near nine-month highs as fresh comments from a Federal Reserve official boosted bets of a rate hike by year-end, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan inched down 0.1 percent, it said.

JF Apex Securities Research in a market preview today said US markets ended flat on Friday amid the quarterly results season and a higher US dollar.

It said that similarly, European stocks were mixed after comments from the European Central Bank

“On the local market, the FBM KLCI added 2.80 points to 1669.98 points.

“Following the mixed performance in the US and Europe coupled by the "neutral" Budget announcement, the FBM KLCI is expected to remain sideways below the resistance of 1675 points,” it said.

 

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