Saturday 20 Apr 2024
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KUALA LUMPUR (June 20): The FBM KLCI extended its gains at mid-morning today as regional markets and US futures rose as Brexit fears ebbed somewhat.

At 10am, the FBM KLCI gained 3.57 points to 1,627.75.

The gainers included British American Tobacco (M) Bhd, Petronas Gas Bhd, Scientex Bhd, Johore Tin Bhd, Kim Loong Resources Bhd, Aeon Credit Service (M) Bhd, S P Setia Bhd and Batu Kawan Bhd.

The actives included SapuraKencana Petroleum Bhd, Asia Media Group Bhd, Bumi Armada Bhd, Comintel Corporation Bhd, KNM Group Bhd and O&C Resources Bhd.

The losers included BIMB Holdings Bhd, MISC Bhd, P.I.E. Industrial Bhd, UMW Holdings Bhd, Malaysia Airports Holdings Bhd, Top Glove Corporation Bhd and Cahya Mata Sarawak Bhd.

Asian stocks gained early on Monday as rising expectations of Britain voting to remain in the European Union lifted risk sentiment and the pound jumped against its peers, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4%, it said.

Hong Leong IB Research said the FBM KLCI may inch up today as sentiment is likely to be boosted by a 4.2% relief rally in oil prices as well as BN's pair of by-election wins on June 18 with bigger majorities.

"However, any rebound will be short-lived as focus will remain on the Brexit vote.

"Weekly resistance is 1,640–1,650 while supports fall on 1,600–1,613 territory," it said.

 

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