KLCI extends gains, rises 0.98% in line with regional rally

KLCI extends gains, rises 0.98% in line with regional rally
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KUALA LUMPUR (June 4): The FBM KLCI extended its gains at mid-morning today and rose 0.98% in line with the rally at regional markets.

At 10am, the FBM KLCI rose 15.35 points to 1,553.88.

Gainers led losers by 526 to 223, while 316 counters traded unchanged. Trading volume was 2.03 billion shares valued at RM1.17 billion.

The top gainers included Nestle (M) Bhd, Aeon Credit Service (M) Bhd, Hartalega Holdings Bhd, LPI Capital Bhd, Hap Seng Consolidated Bhd, Hong Leong Bank Bhd, Hong Leong Financial Group Bhd, Supermax Corp Bhd and Kuala Lumpur Kepong Bhd.

The actives included Sapura Energy Bhd, AT Systemization Bhd, AirAsia Group Bhd, AirAsia X Bhd, Careplus Group Bhd, Hubline Bhd, GD Express Carrier Bhd and DGB Asia Bhd.

The losers included Top Glove Corp Bhd, Box-Pak (M) Bhd, UMS Holdings Bhd, Carlsberg Brewery Malaysia Bhd, FACB Industries Bhd, Khind Bhd and Genting Bhd.

Bloomberg said the global stock rally extended into Thursday as investors clung to optimism for a speedy economic recovery from the pandemic.

Treasury yields kept Wednesday’s jump and the dollar remained at its weakest since early March., it said.

Hong Leong IB Research said after successfully refilling the 1460-1480 gap (9 March) and above the crucial 200D SMA at 1518 coupled with an extended rally on Wall St, the liquidity-driven bulls are in control to lift KLCI to one more leg up towards 1560 (upper channel) and 1600 psychological barriers, as investors clung to optimism for a gradual re-opening of economies from the COVID-19 lockdowns and supported by the unprecedented fiscal and monetary stimulus as backstops.

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