KLCI reverses loss, climbs in line with regional markets

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KUALA LUMPUR (Feb 5): The FBM KLCI reversed its earlier losses and climbed at mid-morning in line with the regional markets.

At 10am, the FBM KLCI rose 4.99 points to 1,661.76.

The gainers included Petronas Gas Bhd, British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Dutch Lady Milk Industries Bhd, Batu Kawan Bhd, Cycle & Carriage Bintang Bhd, Hap Seng Consolidated Bhd and Petron Malaysia Refining & Marketing Bhd.

The actives included Tiger Synergy Bhd, XOX Bhd, APFT Bhd, Hibiscus Petroleum Bhd, Hubline Bhd and EKA Noodles Bhd.

The decliners included Kossan Rubber Industries Bhd, Lafarge Malaysia Bhd, Malaysian Pacific Industries Bhd, Top Glove Corporation Bhd, United Plantations Bhd, Boustead Holdings Bhd and Lingkaran Trans-Kota Holdings Bhd.

Asian equities edged up on Friday, taking early inspiration from an overnight rise on Wall Street, while the dollar wobbled ahead of the closely watched US jobs report, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan crept up 0.1%. The index was on track to end the week 0.3% lower, it said.

Hong Leong IB Research said that technically the FBM KLCI's strong rally yesterday and overnight Dow's rebound are conducive for the index to advance higher today.

However, it said profit taking ahead of the long Chinese New Year (CNY) holidays (Bursa Malaysia will be closed on Feb 8 and 9) and the key US Jan jobs data tonight may cap upside near 1,668 (lower Bollinger band) and 1,674 (23.6% FR) zones.