KUALA LUMPUR (May 15): The FBM KLCI extended its gains in early trade Friday, tracking regional markets, to move above the 1,400-point threshold, as index-linked glovemakers continued to dominate the advancing issuers.

At 9.05am, the FBM KLCI rose 5.05 points to 1,402.30.

The top gainers included Hartalega Holdings Bhd, Kossan Rubber Industries Bhd, Nestle (M) Bhd, Top Glove Corp Bhd, Petron Malaysia Refining & Marketing Bhd, Hengyuan Refining Company Bhd, Bursa Malaysia Bhd, Can-One Bhd and Supermax Corp Bhd.

Bloomberg said Asian stocks opened higher on Friday as investors awaited data that may show China’s post-lockdown economic recovery is picking up steam.

Treasuries kept gains, it said.

Rakuten Trade in its daily market report said Wall Street staged a remarkable rebound yesterday reversing a lacklustre opening to close on a high.

It said the Dow Jones Industrial Average was up by almost 380 points to 23,625 despite latest news of bleak unemployment outlook in the US.

“In view of this, we reckon regional markets to be rather mixed today.

“On the local front, we can expect some consolidation for the FBM KLCI today following a solid performance over the last few days with 1,400 being the immediate resistance.

“Hence for today we may see the benchmark index to trend between a tight 1,390-1,400 range,” it said.

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