KLCI opens 1.46% higher as key blue chips lift

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KUALA LUMPUR (Sept 17): The FBM KLCI opened 1.46% higher lifted by key blue chips in line with the regional markets that trended higher.

At 9am, the FBM KLCI jumped 24.49 points to 1,671.64.

The top gainers included Public Bank Bhd, Genting Bhd, Tenaga Nasional Bhd, LPI Capital Bhd, Guinness Anchor Bhd, CIMB Group Holdings Bhd, IOI Corporation Bhd, Petronas Gas Bhd, PPB Group Bhd and Hartalega Holdings Bhd.

Asian stocks hit a three-week high on Thursday after a jump in oil prices lifted Wall Street, with many investors taking last-minute positions ahead of a crucial US Federal Reserve policy announcement, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4%, hitting its highest level in three weeks while Japan's Nikkei average rose 1.4%, it said.

JF Apex Securities Research in a market preview today said US markets climbed overnight following higher oil price and investors anticipating US Federal Reserve's decision on interest rate.

Similarly, it said European stocks gained as the market awaits the outcome of the Fed's two-day meeting later today.

“On the local bourse, the FBM KLCI closed 7.52 points higher at 1,647.15 points after coming off an intra-day of 1,656.08 points.

“Following gains in the US and Europe, we expect the KLCI to rise today test its critical resistance of 1,670 points,” it said.

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