Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (June 19): The FBM KLCI rose at mid-morning today on some bargain hunting on index-linked blue chips.

At 10am, the FBM KLCI rose 4.42 points to 1,722.54.

The top gainers included Oriental Food Industries Bhd, Malayan Banking Bhd, Tenaga Nasional Bhd, MISC Bhd, Nestle (M) Bhd, Genting Bhd, Westports Holdings Bhd and LTKM Bhd.

The top gainers included AirAsia Bhd, IFCA MSC Bhd, Frontken Corporation Bhd, Privasia Technology Bhd, MUI Industries Bhd and Perisai Petroleum Teknologi Bhd.

The top losers included United Plantations Bhd, Kuala Lmpur Kepong Bhd, UMW Holdings Bhd, Batu Kawan Bhd, Petronas Gas Bhd, Kossan Rubber Industries Bhd and Sime Darby Bhd.

Stock markets around the world rallied on Thursday, while the U.S. dollar fell, a day after the Federal Reserve signalled that interest rates would rise more slowly than many had expected, according to Reuters.

While uncertainty over Greece continued to weigh on sentiment, hopes that a deal would be reached returned European equities to positive territory, it said.

Hong Leong IB Research said the recent slide in the FBM KLCI (after failing to stay above 10-d/20-d/30-d/50-d/100-d/200-d SMAs) could potentially point to more weakness in the short term, especially approaching the upcoming Fitch review by end June.

“A breakdown below 1700 will see the index into a freefall territory (despite grossly oversold positions), with no strong support until 1671 (17 Dec low). Key resistances are 1746-1769,” it said.

 

      Print
      Text Size
      Share