Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 8): The FBM KLCI dipped in early trade today on some mild profit taking on key boue chips.

At 9am, the FBM KLCI fell 6.58 points to 1,682.67.

The early decliners included British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Hong Leong Bank Bhd, Petronas Chemicals Group Bhd, PPB Group Bhd, Sime Darby Bhd, Sarawak Oil Palms Bhd, Genting Bhd and MMC Corporation Bhd.

Asian stocks rose modestly on Thursday, taking their cue from gains on Wall Street as the region braced for a resumption of trading in the Chinese markets after a week-long break, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.3 percent, supported by South Korea's Kospi rising 0.5 percent and Australian shares climbing 0.9 percent. Japan's Nikkei bucked the trend and lost 0.2 percent on a stronger yen, it said.

JF Apex Securities Research in a market preview today said US markets climbed overnight lifted by healthcare and energy stocks.

Meanwhile, it said European stocks ended slightly higher after gains by automakers and miners.

“On the local market, the FBM KLCI rallied 26.74 points to 1689.25 points following higher oil price and ringgit.

“Following the positive performance in the US, we expect the FBM KLCI to extend its gains and test the resistance of 1700 points,” it said.

 

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