Thursday 28 Mar 2024
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KUALA LUMPUR (July 16): The FBM KLCI dipped in early trade this morning on some mild profit taking on select blue chips, led by Tenaga Nasional Bhd.

At 9am, the FBM KLCI fell 5.22 points to 1,722.04.

The top losers included Tenaga Nasional Bhd, Kuala Lumpur Kepong Bhd, Westports Holdings Bhd, MISC Bhd, Genting Bhd, KLCC Property Holdings Bhd, Hong Leong Bank Bhd and Top Glove Corporation Bhd.

Asian stocks were mostly higher on Thursday after the Greek parliament approved a bailout plan while the dollar stood tall after Federal Reserve Chair Janet Yellen reinforced expectations for a US rate hike, according to Reuters.

Japan's Nikkei rose 0.5%, as did Australian shares. South Korea's Kospi was up 0.2%, it said.

JF Apex Securities Research in a market preview today said US markets ended slightly lower as investors are cautious on Greece's parliamentary vote on reforms for its bailout.

Meanwhile, it said European stocks climbed on expectation that the Greek parliament would approve the bailout.

“Back home the FBM KLCI gained 6.16 points to 1,727.26 points.

“Global investors remain cautious as violence broke out in Greece after the parliament vote in favor of the bailout. We expect the KLCI to hover below the resistance of 1,740 points,” it said.

 

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