KLCI keeps gains as regional markets advance

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KUALA LUMPUR (Dec 7): The FBM KLCI sustained its gains at mid-morning today in line with tghe advance at key regional markets.

At 10am, the FBM KLCI added 4.70 points to 1,672.57.

The top gainers included Top Glove Corporation Bhd, PPB Group Bhd, Kuala Lumpur Kepong Bhd, Fraser & Neave Holdings Bhd, Kossan Rubber Industries Bhd, Kobay Bhd, British American Tobacco (M) Bhd and Can-One Bhd.

The actives included 1 Utopia Bhd, XOX Bhd, RGB International Bhd, Genetec Technology Bhd, Instacom Group Bhd, Hubline Bhd and Frontken Corporation Bhd.

The top losers included Petronas Gas Bhd, Burss Malaysia Bhd, Hong Leong Industries Bhd, Dutch Lady Milk Industries Bhd, Daibochi Plastic & Packaging Industry Bhd, Carlsberg Brewery (M) Holdings Bhd, Aeon Credit Services (M) Bhd amnd IHH Healthcare Bhd.

Asian share markets bounced on Monday after Wall Street welcomed an upbeat U.S. jobs report that suggested the world's biggest economy was well placed to handle an expected first increase in interest rates in almost a decade, according to Reuters.

Oil prices were near their lowest since 2009 in the wake of the Organization of the Petroleum Exporting Countries' decision to keep production high despite depressed demand, it said.

Hong Leong IB Research said the FBM KLCI may stage a mild recovery today, taking cues from last Friday’s Wall St and Europe markets rebound.

However, it said sentiment will remain cautious ahead of the UMNO general assembly this week and further weakness expected in oil prices after OPEC decision.

“Weekly resistances are 1677-1690 while supports fall on 1644-1650,” it said.