KUALA LUMPUR (July 20): The FBM KLCI resumed trade this morning on a higher note after the extended weekend for the Hari raya break, lifted by select blue chips.

At 9am, the FBM KLCI rose 6.56 points to 1,733.29.

The top gainers included United Plantations Bhd, Petronas Gas Bhd, Hong Leong Financial Group Bhd, British American Tobacco (M) Bhd, Tenaga Nasional Bhd, IHH Healthcare Bhd and Lii Hen Industries Bhd.

The U.S dollar held broad gains in Asia on Monday as investors looked ahead to higher interest rates from the Federal Reserve, while gold hit five-year lows as a lack of global inflation left little to hedge against, according to Reuters.

Activity was light with Japan on holiday and a dearth of major data in the diary, leading to a cautious start for stocks, it said.

BIMB Securities Research in a market preview today said major Asian markets were quite steady last Friday.

“Domestically, the FBM KLCI closed rather flat at 1,726.73 or down by a mere 0.53 points (last Thursday).

“Interestingly for the local bourse, the net foreign outflow for last week seemed to have relented with only RM10.3 million last Thursday or RM183.4 million for the whole of last week.

“We would expect some buying interest today with the 1,730 as the next target,” he said.