Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 29): The FBM KLCI extended its positive run at mid-morning on Wednesday but gains were seen capped given the lack of fresh catalysts.

At 10am, the FBMKLCI added 4.80 points to 1,830.48.

The top gainers included BAT, Hong Leong Bank, Lysaght, Petronas Gas, Shell, Aeoin Credit, Globetronics, Naim, Batu Kawan, Press Metal and CIMB.

The top actives included Efficient, IFCA MAS, Ni Hsin, Sanichi, Sumatec, Talam Transform, Minetec and PDZ.

The decliners included Huat Lai, MISC, F&N, United Plantations, KLCC, Genting Plantations, Mah Sing, PPB and Advanced Packaging.

Regionally, Asian shares advanced to one-month highs on Wednesday, helped by Wall Street which gained on optimism over corporate earnings and prospects the U.S. Federal Reserve will reaffirm its willingness to wait longer before raising interest rates, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 percent, led by 0.6 percent rise in South Korean shares while Japan's Nikkei share average edged up 0.5 percent, it said.

BIMB Securities Research said Asian markets were broadly firmer on Tueday following the positive performance on Wall Street.

Locally, it said the FBM KLCI closed the day 2.53 points higher at 1,825.68 from continued buying support by the local institutions amid some profit taking activities on major SEA bourses as Indonesia, the Philippines and Singapore were all in the red.

“We expect local buying to persist but any strong upside may be curtailed by the unloading from foreign funds.

“We see the 1,830 as the immediate resistance,” it said.

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