Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Aug 6): The FBM KLCI edged up in early trade this morning, tracking gains at most regional markets, lifted by select blue chips.

At 9.05am, the FBM KLCI added 0.92 points to 1,781.01.

The gainers included Malaysia Airports Holdings Bhd, BP Plastics Holding Bhd, SLP Resources Bhd, Serba Dinamik Holdings Bhd, UMW Holdings Bhd, Perusahaan Sadur Timah Malaysia Bhd, Lingkaran Trans Kota Holdings Bhd, Thong Guan Industries Bhd and ViTrox Corp Bhd.

Asian stocks rose on Monday after China's central bank took steps to try to drag the yuan away from 14-month lows, but the tit-for-tat conflict over Sino-U.S. trade hung heavily on markets, according to Reuters.

The People's Bank of China late on Friday raised the reserve requirement on foreign exchange forward positions, making it more expensive to bet against the Chinese currency, it said.

JF Apex Securities Research in a market preview said US markets rose on Friday as investor optimism overcame trade concerns after gains by Apple and IBM as well as jobs data.

It said that similarly, European stocks advanced following corporate earnings.

“On the local bourse, the FBM KLCI added 1.96 points to 1780.09 points.

“Following the bullish performance in the US and Europe, the FBM KLCI could climb and retest the resistance of 1800 points,” it said.

 

      Print
      Text Size
      Share