KUALA LUMPUR (June 17): The FBM KLCI rose 0.63% in early trade Wednesday on the back of a firmer close at Wall Street as investors appeared to have brushed off the skirmish between China and India at the disputed border site in the western Himalayas as well the escalating unrest in the Korean peninsula, while shares in glovemakers continued to ascend.

At 9.07am, the FBM KLCI added 9.66 points to 1,527.37.  

The early gainers included Petronas Dagangan Bhd, Manulife Holdings Bhd, Top Glove Corp Bhd, Kossan Rubber Industries Bhd, Petronas Gas Bhd, Supermax Corp Bhd, Boustead Heavy Industries Corp Bhd and Greatech Technology Bhd.

Bloomberg said Asian stocks were mixed as investors weighed the recent rally in risk assets alongside evidence of a U.S. economic recovery and lingering concern over further coronavirus outbreaks.

The dollar steadied following gains, it said.

Rakuten Trade Sdn Bhd in its daily market report said US Stocks underwent a wild ride before ended the day higher on hopes for an economic recovery soon.
It said the Dow Jones Industrial Average trended within a massive 800 points range but close the day 526 points higher at around the 26,300 mark.

“Therefore, we believe regional markets may continue with their uptrend as buying momentum remains intact.

“On the local front, we see the FBM KLCI to remain on solid footing with the FBM KLCI to trend within the 1,515-1,525 range today.

“Nonetheless, many may keep an eye on the developments on the Korean Peninsular as tension escalates,” it said.