KLCI climbs as Trump says trade talks are 'moving right along'

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KUALA LUMPUR (Dec 6): The FBM KLCI continued to climb into positive territory in tandem with regional stocks which ticked higher, as risk sentiment was lifted by positive comments from Washington on the ongoing trade talks with Beijing.

FTSE Russell and Bursa Malaysia also said there will be no changes to the constituents of the FTSE Bursa Malaysia (FBM) KLCI, following the semi-annual review of the FBM Index Series yesterday (Dec 5).

At the time of writing, the benchmark index rose 3.61 points to 1567.19. So far, 1.52 billion shares were traded for RM714.37 million.

U.S. President Donald Trump said on Thursday that the talks were "moving right along", even as the two sides remained at odds over rolling back existing tariffs and other issues such as the protests in Hong Kong, Reuters said.

"U.S.-China trade talks are complex; fraught with a multitude of quantitative (e.g. magnitude of farm purchases) and qualitative (e.g. IP and forced transfer of technology) issues. But at this stage, tariff rollback threatens to be the deal-breaker," Reuters wrote, quoting Mizuho Bank in a note to clients.

At Bursa Malaysia, a mixture of plantation and rubber stocks lifted the KLCI.

Topping the gainers list on the index was Sime Darby Plantation Bhd which rose two sen or 0.85% to RM2.36; as well as Kuala Lumpur Kepong Bhd, climbing 38 sen or 1.6% to RM24.12, and Hartalega Holdings bhd which rose seven sen or 1.36% to RM5.20.