Friday 29 Mar 2024
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KUALA LUMPUR (April 9): The FBM KLCI gained 0.12% at mid-morning today, lifted by select index-linked blue chips.

At 10am, the FBM KLCI gained 2.33 points to 1,839.34.

Gainers led losers by 295 to 239, while 232 counters traded unchanged. Volume was 441.40 million shares valued at RM221.41 million.

The gainers included Hengyuan Refining Company Bhd, Petron Malaysia Refining & Marketing Bhd, Fraser & Neave Holdings Bhd, Petronas Dagangan Bhd, LPI Capital Bhd, Magni-Tech Industries Bhd, Tan Chong Motor Holdings Bhd, George Kent (M) Bhd and Globetronics Technoloy Bhd.

The actives included Borneo Oil Bhd, UMW Oil & Gas Corp Bhd, Hengyuan warrants, Sapura Energy Bhd, Sino Hua-An International Bhd and Comfort Gloves Bhd.

The losers included KESM Industries Bhd, British American Tobacco (M) Bhd, as well as warrants of Press Metal Aluminium Holdings Bhd, GD Express Carrier Bhd and Sunway Construction Group Bhd.

Asian share started flat on Monday as U.S. President Donald Trump kept up his twitter war with China over trade just a couple of days before President Xi Jinping gives a keynote speech on his policy priorities, according to Reuters.

Soothing tensions a little was news North Korea had told the United States for the first time that it was prepared to discuss denuclearization when their leaders meet, it said.

Hong Leong IB Research in a traders’ brief said that in the US, the market volatility may persist with the ongoing reciprocal actions between the US and China.

“Any wild card by both parties would dampen the market sentiment. However, the recent tariffs measures would not be implemented until public comment process is concluded.

“Meanwhile, stocks on Bursa Malaysia may face with further selling pressure amid the spill over of negative sentiment from Wall Street.

“Hence, traders might be deploying a wait-and-see strategy over the near term until US and China discussions are settled,” it said.

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