Thursday 28 Mar 2024
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KUALA LUMPUR (July 20): The FBM KLCI retreated in early trade Friday, in line with the subdued regional markets and overnight fall at Wall Street and European bourses.

At 9.05am, the FBM KLCI fell 1.93 points to 1,757.31.

The top losers included Nestle (M) Bhd, Dutch Lady Milk Industries Bhd, Petron Malaysia Refining & Marketing Bhd, IHH Healthcare Bhd, Cycle & Carriage Bintang Bhd, British American Tobacco (M) Bhd, Top Glove Corp Bhd, IOI Corp Bhd and Genting Bhd.

Asian stocks eked out modest gains on Friday as investor caution prevailed amid concerns about the European Union imposing retaliatory tariffs on U.S. goods while U.S. President Donald Trump's criticism of Federal Reserve policy knocked the dollar, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent.JF Apex Securities Research in a market preview said US markets declined overnight following losses in financial counters after President Trump criticised the Federal Reserve for raising interest rates, it said.

It said that earlier, European stocks tumbled as investors took profit from recent gains amid corporate results season.

“On the local market, the FBM KLCI extended its uptrend after gaining 6.17 points to 1759.24 points on local support.

“Following the bearish performance in the US and Europe, the FBM KLCI could decline on profit taking with support at 1750 po

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