FBM KLCI extends gains as Petronas-linked stocks rise

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KUALA LUMPUR (Aug 21): The FBM KLCI opened higher today as Petronas-linked stocks rose among Bursa Malaysia top gainers. Globally, China-US trade sentiment and Turkey's geopolitical and economic concerns continue to dictate financial markets' direction.

At Bursa Malaysia, the KLCI opened 2.67 points or 0.15% higher at 1,790.25 at 9am. At 9:12am, the KLCI rose 3.47 points to 1,791.05 as KLCI-linked Petronas Dagangan Bhd and Petronas Chemicals Group Bhd emerged among Bursa Malaysia leading gainers.

TA Securities Holdings Bhd wrote in a note today : "Even as stocks edge higher, underlying caution over Turkey's fragile geopolitical and economic outlook, and uncertainties over the upcoming US-China trade talks should keep buyers in check." 

The KLCI extended gains so far today after closing 4.11 points higher at 1,787.58 yesterday. 

Tomorrow (Aug 22), Malaysian markets will be closed for the Hari Raya Haji holiday. Trading resumes on Thursday (Aug 23).