Friday 29 Mar 2024
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KUALA LUMPUR (April 21): The FBM KLCI rose 0.3% at mid-morning today, in line with the regional uptrend.

At 10am, the FBM KLCI added 6.56 points to 1,855.22.

The top gainers included British American Tobacco (M) Bhd, Pharmaniaga Holdings Bhd, Hong Leong Finacial Group Bhd, Hong Leong Bank Bhd, Kuala Lumpur Kepong Bhd, Petronas Dagangan Bhd, Genting Bhd, UMW Holdings Bhd and Fraser & Neave Holdings Bhd.

The actively traded stockc included Nova MSC Bhd, EA Holdings Bhd, PUC Founder Bhd, Genetec Technology Bhd, Kanger International Bhd, Frontken Corporation Bhd, Privasia Technology Bhd and Nexgram Holdings Bhd.

The decliners included Lafarge Malaysia Bhd, United Plantations Bdh, Malaysia Airports Holdings Bhd, PPB Group Bhd, Amway (M) Holdings Bhd and Scientex Bhd.

Asian stocks were firm on Tuesday after China's latest step to prop up its faltering economy lifted global equities, while the euro was pressured on growing worries a cash-strapped Greece may default on its debt, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was steady, with the dollar's gains against some Asian currencies offsetting a rise in stock prices in local currency terms, it said.

Hong Leong IB Research said the FBM KLCI was expected to test near term 1st key resistance at 1858 following the “calming effect” of PBOC’s RRR cut, overnight strong rebound from Dow and positive expectations from Invest Malaysia Week (23-24 Apr) and Asian Summit (26-27 Apr) coupled with recent oversubscription of Malaysian government's inaugural long tenured sukuk.

“Key risk to our target is the Greece meeting on 23 April,” it said.

 

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