Thursday 28 Mar 2024
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KUALA LUMPUR (March 3): The FBM KLCI edged up in early trade in line with the firmer regional markets but the gains at the local bourse were seen limited.

At 9am, the FBM KLCI rose 3.30 points to 1,820.43.

The top gainers included Kuala Lumpur Kepong Bhd, The Nomad Group Bhd, Petronas Gas Bhd, UMW Holdings Bhd, Dayang Enterprise Holdings Bhd, Tenaga Nasional Bhd, C.I. Holding Bhd,Malayan Banking Bhd, IOI Corporation Bhd, Dutch Lady Milk Industries Bhd and Pestech International Bhd.

At the global markets, the U.S. dollar hovered close to an 11-year high against a basket of currencies while Asian shares firmed in early trade on Tuesday, with sentiment bolstered by another record day on Wall Street, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was nearly flat, while Japan's Nikkei stock average was up about 0.4 percent after the yen pushed to three-week lows against the greenback, it said.

Hong Leong IB Research in a market preview Tuesday said despite positive overseas markets, domestic concerns such as potential more 2015 earnings downgrade, depressed Ringgit coupled with nagging concern over IMDB saga would cap the FBM KLCI’s upside.

“Stiff resistances are 1830-1850 while supports fall on 1790-1800,” it said.

 

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