KLCI poised to end 1Q 2015 on a firmer note

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KUALA LUMPUR (March 31): The FBM KLCI is poised to end the final trading day of the first quarter of 2015 on a firmer note today.

At 9.05am, the FBM KLCI rose 7.53 points to 1,829.36.

The top gainers included British American Tobacco (M) Bhd, United Plantations Bhd, Kuala Lumpur Kepong Bhd, Petronas Gas Bhd, Lafarge Malaysia Bhd, Hong Leong Financial Group Bhd, Public Bank Bhd, UMW Holdings Bhd and RHB Capital Bhd.

Asian stocks rose on Tuesday after a rally on Wall Street and steps by China to shore up its economy boosted risk appetite, while Greek debt worries again haunted the sagging euro, according to Reuters.

Tracking overnight gains in U.S. shares, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.4 percent. Japan's Nikkei added 0.9 percent and Australian shares rose 1.3 percent, it said.

JF Apex Securities Research in a market preview today said US stocks rallied after February's pending home sales and personal income improved.

Similarly, it said European markets ended higher on a shorter trading week due to Easter holiday.

“Back home, the FBM KLCI rose 8.46 points to 1821.83 points.

“Asian equities are expected to rise after China announced new policies to boost its property market. As such, we expect the FBM KLCI to test its resistance of 1830 points,” it said.