Friday 29 Mar 2024
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KUALA LUMPUR (Sept 8): The FBM KLCI opened highet this morning but the overall outlook remained gloomy as regional markets looked set to struggle.

At 9am, the FBM KLCI rose 1.35 points to 1,584.20.

The top gainesr in early trade included Petronas Gas Bhd, Hong Leong Financial Group Bhd, Tenaga Nasional Bhd, V.S. Industry Bhd, Alliance Financial Group Bhd, Hartaleha Holdings Bhd, Karex Bhd and Signature International Bhd.

Asian shares looked set to struggle on Tuesday to defend the three-year trough hit last month as investors sought more signs of stability in China's slowing economy and volatile financial markets, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan on Monday closed near the three-year low hit two weeks ago. In Japan, stock futures suggest Japan's Nikkei is likely to post slim gains, it said.

JF Apex Securities Research in a market preview today said European stocks climbed after bucking the decline in Asian markets.

Meanwhile, it said American markets were closed yesterday for Labour Day holiday. 

“Back home the FBM KLCI closed 6.31 points lower at 1582.85 points after climbing from an intra-day low of 1567.91 points. 

“Asian markets might climb today after Japan's GDP came above expectation and we expect the FBM KLCI to be positive with resistance at 1600 points,” it said.

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