Friday 29 Mar 2024
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KUALA LUMPUR (Sept 2): The FBM KLCI rose in early trade today, lifted by select blue chip stocks, despite nervous regional markets.

At 9.01am, the FBM KLCI rose 3.14 points to 1,673.69.

The early gainers included Fraser & Neave Holdings Bhd, British American Tobacco (M) Bhd, Petronas Gas Bhd, Hong Leong Industries Bhd, Public Bank Bhd, Sime Darby Bhd, Sapura Resources Bhd and Pos Malaysia Bhd.

The potential for a strong U.S. non-farm payrolls number later in day - and with it an elevated chance of a Federal Reserve rate hike soon - kept Asian financial markets nervously marking time on Friday, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent, it said.

JF Apex Securities Research in a market preview today said US markets ended flat overnight after manufacturing data disappointed and investors remained cautious ahead of employment data to be released later today.

It said that earlier, European stocks reversed intra-day gains taking lead from US' weak manufacturing data.

“On the local front, the FBM KLCI lost 7.51 points to 1670.55 points weighed down by foreign selling.

“Following the lacklustre performance in the US and Europe, the FBM KLCI could test the support at 1665 points,” it said.

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