KLCI edges up marginally in line with regional gains

KLCI edges up marginally in line with regional gains
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KUALA LUMPUR (Jan 10): The FBM KLCI edged up marginally in early trade this morning, in line with the gains at most regional markets.

At 9.10am, the FBM KLCI was up 0.90 points to 1,596.55.

The gainers included KESM Industries Bhd, Malaysian Pacific Industries Bhd, Hong Leong Financial Group Bhd, Heineken Malaysia Bhd, Genetec Technology Bhd, Public Bank Bhd, Petronas Chemicals Group Bhd, SLP Resources Bhd, TSH Reseources Bhd and Serba Dinamik Holdings Bhd.

Reuters said the world's shares hit a record high on Friday as a relief over de-escalation of U.S.-Iranian tensions quickly prompted investors to bet on faster global growth, especially in the technology sector.

MSCI's broadest gauge of the world's stocks in 49 countries rose a tad to hit an all-time high and its index on Asia-Pacific shares outside Japan rose 0.18%, it said.

JF Apex Securities Research said US markets rose overnight to record highs led by technology counters as the US-Iran conflict eased.

It said similarly, European stocks advanced as investor sentiment improved after easing concerns over US-Iran tension.

“On the local market, the FBM KLCI rose 6.55 points to 1593.72 points.

“Following the positive performances in the US and Europe, the FBM KLCI could climb towards its resistance of 1615 points,” it said.