Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (March 3): The FBM KLCI was just shy of breaching the 1,700-point level at mid-morning today but looks set to cross the threshold during the course of the day.

At 10am, the FBM KLCI was up 5.36 points to 1,696.39.

The top gainers included British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, RHB Capital Bhd, Public Bank Bhd, Hap Seng Consolidated Bhd, Hong Leong Bank Bhd, PPB Group Bhd, Tenaga Nasional Bhd, Chin Teck Plantations Bhd, Scientex Bhd and Apex Healthcare Bhd.

The actives included AirAsia Bhd, AirAsia X Bhd, SKH Consortium Bhd, KNM Group Bhd, Tiger Synergy Bhd, Perisai Petroleum Teknologi Bhd, RGB International Bhd, NTPM Holdings Bhd and Vivocom International Holdings Bhd.

The top losers included Petronas Dagangan Bhd, Petronas Gas Bhd, Carlsberg Brewery (M) Holdings Bhd, Petron Malaysia Refining & Marketing Bhd, MNRB Holdings Bhd and Danainfra Nasional Bhd.

Asian shares were trying to string together three sessions of gains on Thursday as upbeat data on U.S. jobs and gains for a range of commodities whetted risk appetites globally, according to Reuters.

Notably, oil shrugged off record high U.S. crude stockpiles as investors chose to focus on an OPEC plan to freeze production, keeping alive talk the market had bottomed from a near two-year selloff, it said.

Hong Leong IB Research said that in the near term, the FBM KLCI is poised to stage a triangle breakout to revisit the 1,700 and 1,706 (30 Dec high) upside targets, following a strong breakout above 200-d SMA yesterday.

“Key supports now are 1652-1678 levels,” it said.

      Print
      Text Size
      Share