Thursday 28 Mar 2024
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KUALA LUMPUR (March 22): The FBM KLCI edged lower in early trade today in line with the wobbly regional markets.

At 9am, the FBM KLCI shed 0.90 points to 1,717.46.

The top losers included Petronas Dagangan Bhd, Westports Holdings Bhd, Sime Darby Bhd, Maxis Bhd, IOI Corporation Bhd, Petron Malaysia Refining & Marketing Bhd, Genting Bhd, Malayan Banking Bhd, Genting Malaysia Bhd and Time Dotcom Bhd.

Asian stocks wobbled on Tuesday as hawkish comments from U.S. Federal Reserve officials stoked uncertainty about policy makers' intentions less than a week after Fed Chair Janet Yellen had set out a more cautious path to rate increases this year, according to Reuters.

The dollar got a mild boost from the suggestion that U.S. monetary policy could be tightened sooner rather than later, it said.

JF Apex Securities Research in a market preview today said US markets eked out slight gains following higher telecommunication and healthcare counters.

Meanwhile, it said European stocks declined after lower oil prices.

“On the local market, the FBM KLCI closed 2.02 points higher at 1718.36 points after recovering from an intra-day low of 1707.11 points.

“Following the positive performance in Wall Street, the FBM KLCI could climb higher towards its resistance of 1750 points,” it said.

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