KLCI edges up, sentiment seen lacklustre

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KUALA LUMPUR (May 26): The FBM KLCI edged up marginally in early trade today, but overall market sentiment is seen to remain lacklustre.

At 9.01am, the FBM KLCI was up 0.34 points to 1,767.72.

The top gainers included Hong Leong Financial Group Bhd, Nestle (M) Bhd, Signature International Bhd, IFCA MSC Bhd, Bursa Malaysia Bhd, Lafarge Malaysia Bhd, Pharmaniaga Holdings Bhd, Petronas Dagangan Bhd and Pos Malaysia Bhd.

JF Apex Securities Research in a market preview today said U.S. markets were also closed for the Memorial Day holiday while UK's FTSE and the German DAX were both closed for the Whit Monday holiday. Other European markets closed lower following Spain's elections and renewed concern on Greece's exit from European Union.

“On the local market, the FBM KLCI plunged 20.12 points to 1767.38 points.

“Following the bearish sentiment and lack of positive leads, the KLCI is expected to remain lackluster with support at 1760 points,” it said.