KLCI up 0.26% in line with regional gains

-A +A

KUALA LUMPUR (Aug 9): The FBM KLCI rose 0.26% at the midday break today and stayed firmly above the 1,800-point level, tracking gains at regional markets.

At 12.30pm, the FBM KLCI rose 4.73 points to 1,809.46.

Gainers led losers by 306 to 274, while 577 counters traded unchanged. Volume was 1.33 billion shares valued at RM1.01 billion.

The top gainers included Panasonic Manufacturing Malaysia Bhd, British American Tobacco (M) Bhd, Far East Holdings Bhd, ViTrox Corp Bhd, Ajinomoto (M) Bhd, Hong Leong Financial Group Bhd, United Malacca Bhd, Petronas Chemicals Group Bhd and Tenaga Nasional Bhd.

The actives included Frontken Corp Bhd, My E.G. Services Bhd, Barakah Offshore Petroleum Bhd, Radiant Globaltech Bhd, GSB Group Bhd, Sumatec Resources Bhd and Malaysian Resources Corp Bhd.

The decliners included United Plantations Bhd, Nestle (M) Bhd, Petronas Gas Bhd, IHH Healthcare Bhd, Rapid Synergy Bhd, Carlsberg Brewery Malaysia Bhd, Fraser & Neave Holdings Bhd and Ipmuda Bhd.

Asian share markets found support on Thursday as a rally in Chinese stocks helped offset the latest escalation in the Sino-US trade war, while Russia's rouble tumbled as the United States slapped fresh sanctions on the country, according to Reuters.

Shanghai blue chips climbed 2.3% amid talk of possible government support for home-grown technology companies, which would mark the latest in a series of growth boosting measures rolled out by Beijing as the trade dispute worsens, it said.

Affin Hwang Capital Research said the FBM KLCI Index breached the 1,800 key level and is currently at the 1,790-1,820 resistance range.

"We anticipate that our local index will continue testing the resistance.

"The FBM KLCI Index likely to peak for the short term, expect pullback in the near future," it said.