Friday 29 Mar 2024
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KUALA LUMPUR (March 24): The FBM KLCI edged up in early trade on Tuesday in line with the uptrend at most regional markets.

At 9am, the local index added 2.97 points to 1,798.82.

The top gainers in early trade included British American Tobacco (M) Bhd, United Plantations Bhd, Tenaga Nasional Bhd, UMW Holdings Bhd, Pharmaniaga Holdings Bhd, Opcom Holdings Bhd, Bursa Malaysia Bhd, Public Bank Bhd and MISC Bhd.

An index of Asian shares rose in early trading on Tuesday, while the U.S. dollar wallowed near recent lows as investors bet that the U.S. Federal Reserve will stay its hand on hiking interest rates in the months ahead, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up about 0.3 percent in early trade, it said.

Japan's Nikkei stock average was down about 0.1 percent shortly after the open, edging away from the previous session's 15-year highs, said Reuters.

JF Apex Securities Research in a market preview Tuesday said US markets declined overnight after existing home sales in February came below expectations.

Similarly, it said European stocks closed lower due to concerns on Greece's bailout plan as Greek and German leaders met yesterday.

“On the local market, the FBM KLCI dropped 7.80 points to 1795.85 points in line with other Southeast Asian markets.

“Following the lackluster performance in the US, we expect the KLCI to stay negative today but hover above its support level of 1,780 points,” it said.

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