Friday 29 Mar 2024
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KUALA LUMPUR (March 1): The FBM KLCI extended its gains, albeit in limited fashion at mid-morning today, lifted by select blue chips.

At 10.01am, the FBM KLCI was up 5.29 points to 1,660.04.

The top gainers included United Plantations Bhd, Kuala Lumpur Kepong Bhd, PPB Group Bhd, Dutch Lady Milk Industries Bhd, Petron Malaysia Refining & Marketing Bhd, Allianz Malaysia Bhd,Guiness Anchor Bhd, Malayan Banking Bhd and Hap Seng Consolidated Bhd.

The actives included Hubline Bhd, Vivocom International Holdings Bhd, AirAsia Bhd, Borneo Oil Bhd, Nexgram Holdings Bhd amnd RGB International Bhd.

The top losers included P.I.E. Industrial Bhd, Can-One Bhd, Malaysia Pacific Industries Bhd, Ajinomoto Malaysia Bhd, Boustead Holdings Bhd and Kawan Food Bhd.

Asian shares rose slightly in early trade on Tuesday, with sentiment bolstered by China's easing move and gains in oil prices but also constrained by lacklustre U.S. and European data that kept concerns about global growth momentum alive, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up about 0.2 percent. Japan's Nikkei was down 0.5 percent in early trading, crimped by gains in the yen, it said.

Hong Leong IB Research retained its view that Bursa Malaysia is likely to extend last week’s consolidation with key focus on the upcoming US economic data (especially on Fed jobs data), China’s 5 Mar National People’s Congress and ECB meeting on 10 Mar for clues of further monetary and fiscal measures to stimulate flagging economies.

“Weekly resistances are 1680-1700 levels while supports fall on 1642-1650,” it said.

 

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