Saturday 20 Apr 2024
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KUALA LUMPUR (Sept 28): The FBM KLCI rose at mid-morning today, in line with the gains at most regional markets.

At 10.02am, the FBM KLCI rose 5.36 points to 1,670.08.

The top gainers included Teck Guan Perdana Bhd, Malaysian Pacific Industries Bhd, Ajinomoto (M) Bhd, British American Tobacco (M) Bhd, Scientex Bhd, Lay Hong Bhd, Atta Global Group Bhd, Superlon Holdings Bhd, CIMB Group Holdings Bhd, Petron Malaysia Refining & Marketing Bhd and George Kent (M) Bhd.

The actives included Sanichi Technology Bhd, Lion Corp Bhd, Asia Media Group Bhd, Red Sena Bhd, Tek Seng Holdings Bhd and Clig Energy Bhd.

The top losers included Dutch Lady Milk Industries Bhd, Kuala Lumpur Kepong Bhd, United Plantations Bhd, Panasonic Malaysia Manufacturing Bhd, CSC Steel Holdings Bhd and Syarikat Takaful Malaysia Bhd.

Asian stocks edged up early on Wednesday following an overnight rise for U.S. stocks, while reduced hopes that a meeting of major producers would reduce a oversupply weighed heavily on crude oil prices, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent, it said.

Hong Leong IB Research said despite the Dow staging a technical rebound overnight, Bursa Malaysia may encounter volatility ahead amid weakening oil prices.

“However, any pullback will be cushioned by potential 3Q16 window dressing activities and pre-Budget rally coupled with the readiness of Bank Negara Malaysia to support economic growth via easing.

“Immediate upside targets are 1678-1684 while supports fall on 1645-1656,” it said.

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