Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Oct 19): The FBM KLCI reversed its losses at mid-morning and edged up in line with the regional markets.

At 9.56am, the FBM KLCI rose 1.29 points to 1,668.86. The index had earlier dipped to a low of 1,664.91.

The gainers included KESM Industries Bhd, Heineken Malaysia Bhd, Dutch Lady Milk Industries Bhd, UEM Edgenta Bhd, Chin Teck Plantations Bhd, Panasonic Malaysia Manufacturing Bhd, Petronas Dagangan Bhd, DKSH Holdings (M) Bhd and Tasek Corp Bhd.

The actives included Perisai Petroleum Teknologi Bhd, Nexgram Holdings Bhd, AirAsia X Bhd, Bumi Armada Bhd and SapuraKencana Petroleum Bhd.

The losers included Aeon Credit Services (M) Bhd, Fraser & Neave Holdings Bhd, SAM Engineering & Equipment Bhd, UMW Holdings Bhd, Axiata Group Bhd and Sime Darby Bhd.

Asian shares inched ahead on Wednesday after Wall Street got a lift from encouraging corporate earnings and investors wagered a coming barrage of Chinese data would confirm the economy had at least stabilised, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 percent, on top of a jump of 1.4 percent on Tuesday, it said.

Hong Leong IB Research said despite yesterday’s sharp rally, the FBM KLCI is still likely to lock in range bound consolidation mode within 1640-1675 levels this week, mainly driven by the external factors such as the oil prices movement, the final U.S. presidential debate tonight and the key Chinese economic data on industrial production, retail sales and GDP today.

      Print
      Text Size
      Share