Friday 29 Mar 2024
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KUALA LUMPUR (April 14): The FBM KLCI pared some of its losses at mid-morning today in line with the positive regional markets.

At 10am, the FBM KLCI was down 0.09 points to 1,723.02. The index had earlier slipped to a low of 1,721.10.

The top losers included PIE Industrial Bhd. Lingkaran Trans Kota Holdings Bhd, AMMB Holdings Bhd, Can-One Bhd and IOI Properties Group Bhd.

The actives included Sumatec Resources Bhd, Vivocom Intl Bhd, AirAsia Bhd, AirAsia X Bhd and Malaysian Bulk Carriers Bhd.

The top gainers included Petronas Gas Bhd, Top Glove Corporation Bhd, PPB Group Bhd, Atlan Bhd, Guinness Anchor Bhd, Pestech International Bhd and Scientex Bhd.

Asian stock markets rose to their highest level in more than four months on Thursday, helped by optimism in the global banking sector and hopes of stabilisation in the Chinese economy after solid trade data, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4% while Japan's Nikkei gained 2%, it said.

Hong Leong IB Research said the local key bourse is likely to test the formidable resistance level of 1,725 today, buoyed by improving Chinese trade data and rally in Dow overnight.

"1,725 could turn into support area once it is breached.

"In case of a decisive break through of 1,725, the FBM KLCI is likely to move higher towards 1,730–1,735 zones," it said.

 

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