KLCI advances in line with regional markets


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KUALA LUMPUR (Nov 10): The FBM KLCI advanced at mid-morning on Monday, in line with the gains at most regional markets.

At 10am, the FBM KLCI gained 7.31 points to 1,831.50.

The top gainers include Asia File Corporation Bhd, United Plantations Bhd, Dutch Lady Milk Industries Bhd, Cycle & Carriange Bintang Bhd, Guiness Anchor Bhd, British American Tobacco (M) Bhd, Keck Seng (Malaysia) Bhd, Lafarge Malaysia Bhd, Carlsberg Brewery (M) Bhd and Public Bank Bhd.

The actives included Minetec Resources Bhd, Systech Bhd, Carimin Peroleum Bhd, IFCA MSC Bhd, TH Heavy Engineering Bhd and Technodex Bhd.

The top decliners included MMC Corporation Bhd, APM Automotive Holdings Bhd, Supermax Corporation Bhd, IOI Corporation Bhd, Hong Leong Industries Bhd, Oriental Holdings Bhd, Berjaya Auto Holdings Bhd and Syarikat Takaful Malaysia Bhd.

Regionally, Asian shares held firm in early Monday trade after U.S. jobs data pointed to solid economic growth, while China's export performance showed more resilience than some had expected, according to Reuters.

U.S. employers added 214,000 jobs in October, slightly below economists' median forecast of 231,000, but logging the ninth consecutive month of gains of more than 200,000, the longest stretch since 1994, it said.

JF Apex Securities Research said U.S. stocks wavered on Friday, with the S&P 500 and Dow industrials setting their loftiest finishes, after data had the U.S. economy producing less-than-expected jobs in October and the unemployment rate declining to a six-year low.

Meanwhile, European stock indexes closed lower with the exception of the U.K.'s benchmark FTSE 100, after the U.S. economy produced fewer than expected jobs in October and tensions in Ukraine unsettled investors once more, it said.

“On the local market, the FBM KLCI dropped 7.79 points to 1824.19 points.

“Following the unimpressive performance in the US, we expect the KLCI to remain lacklustre below the resistance of 1830 points with no catalyst in sight,” it said.