Friday 29 Mar 2024
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KUALA LUMPUR (July 12): The FBM KLCI edged up in early trade today in line with the gains at regional markets.

At 9.02am, the FBM KLCI added 0.36 points to 1,654.23.

The early gainers included British American Tobacco (M) Bhd, Danainfra Nasional Bhd, Public Bank Bhd, LPI Capital Bhd, Press Metal Bhd, Sime Darby Bhd, Nestle (M) Bhd, Telekom Malaysia Bhd and GHL Systems Bhd.

Asian stocks held firm around a 2-1/2-month peak on Tuesday, a day after U.S. shares hit a record high thanks to a combination of upbeat U.S. data and expectations of more stimulus around the world, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose slightly to hit its highest level since late April in early trade. Japan's Nikkei jumped 2.4 percent, it said.

JF Apex Securities Research in a market preview today said US markets rose overnight with the S&P hitting an all-time high after Japan's election and Friday's employment data.

It said that similarly, European stocks ended sharply higher despite lower oil prices.

“On the local market, the FBM KLCI surged 9.33 points to 1653.87 points.
“Following the bullish performance in the US and Europe, the FBM KLCI could extend its gains towards the resistance of 1665 points,” it said.

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