KUALA LUMPUR (Aug 8): The FBM KLCI opened higher this morning and extended its gains, in line with the advance at most regional markets.

At 9.01am, the FBM KLCI rose 3.35 points to 1,667.39.

The top gainers included British American Tobacco (M) Bhd, DRB-Hicom Bhd, New Hoong Fatt Holdings Bhd, Telekom Malaysia Bhd, Prestariang Holdings Bhd, IHH Healthcare Bhd, Public Bank Bhd and Carlsberg Brewery (M) Holdings Bhd.

Asian shares rose on Monday and the dollar stood tall after a stronger-than-expected July jobs report lifted confidence in the strength of the U.S. economy - heightening expectations that the U.S. Federal Reserve could hike interest rates this year, according to Reuters.

July nonfarm payrolls rose by 255,000 jobs and the June increase was revised upward to 292,000, the Labor Department said. Economists polled by Reuters had forecast July payrolls would increase by 180,000, it said.

JF Apex Securities Research in a market preview today said US markets rallied with the S&P and Nasdaq hitting all-time highs after employment data beat expectations.

It said that similarly, European stocks gained following quarterly earnings and positive US' July jobs report. 

“On the local market, the FBM KLCI gained 8.75 points to 1664.04 points.
“Following the bullish performance in the US and Europe, the FBM KLCI could extend its gains towards the resistance of 1685 points,” it said.