Saturday 20 Apr 2024
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KUALA LUMPUR (June 29): The FBM KLCI rose at mid-morning today in line with the gains at regional markets.

At 10.01am, the FBM KLCI rose 5.02 points to 1,639.06.

The top gainers included Dutch Lady Milk Industries Bhd, Bintulu Port Holdings Bhd, Pestech International Bhd, Hong Leong Financial Group Bhd, Petronas Dagangan Bhd, SAM Engineering & Equipment (M) Bhd, Heineken Malaysia Bhd, British American Tobacco (Malaysia) Bhd and Kossan Rubber Industries Bhd.

The actives included Vivocom International Holdings Bhd, SapuraKencana Petroleum Bhd, KNM Group Bhd, Bumi Armada Bhd, Comintel Corporation Bhd, Vsolar Group Bhd and Malaysia Building Society Bhd.

The losers included PPB Group Bhd, Malaysia Airports Holdings Bhd, Lay Hong Bhd, Allianz Malaysia Bhd, UMW Holdings Bhd and Protasco Bhd.

Asian share markets joined a global rally on Wednesday as the immediate impact of Britain's vote to leave began to wane and investors wagered central banks would have to ride to the rescue with more stimulus measures, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5%, but remained a long way from its pre-vote levels. Japan's Nikkei climbed 1.1%, while Australian stocks added 1%, it said.

Hong Leong IB Research said that after two days of indiscriminate selling, major markets returned to sanity as investors become more rational and see orderly conditions prevailing.

"Optimism that major central banks will commit to contain the fallout from the unprecedented Brexit, 1H16 window dressing and overnight gains in Dow and oil prices are likely to lift the FBM KLCI higher today towards 1,638–1,650 zones.

"Supports are 1,612–1,630 levels," it said.

 

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