Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (Nov 20): The FBM KLCI edged higher this morning to stay firmly above the 1,720-point level in early trade, lifted by select blue chips.

At 9.05am, the FBM KLCI added 1.40 points to 1,723.06.

The early gainers included Nestle (M) Bhd, Petronas Gas Bhd, PMB Technology Bhd, TRIplc Bhd, British American Tobacco (M) Bhd, Telekom Malaysia Bhd, Supermax Corp Bhd, Sime Darby Bhd and MBM Resources Bhd.

Asian shares started the week on the back foot on Monday, pressured by a retreat on Wall Street amid tax reform uncertainty while the euro skidded after German coalition talks hit an impasse, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was nearly flat in early trade, it said.

JF Apex Securities Research in a market preview said US markets declined on Friday following concerns on the progress of tax reform.

It said that earlier, European stocks also ended lower dragged by retail and utility counters.

“On the local market, the FBM KLCI staged a rebound after rising 3.55 points to 1721.66 points.

“Following last week's selldown, the index could consolidate and hover sideways with support at 1700 points,” it said.

      Print
      Text Size
      Share