Friday 29 Mar 2024
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KUALA LUMPUR (Sept 21): The FBM KLCI reversed its losses at mid-morning today as selling pressure somewhat subsided at the local bourse.

At 10.01am, the FBM KLCI rose 1.86 points to 1,657.64. The index had earlier dipped to a low of 1,652.73.

The top gainers included My E.G. Services Bhd (MyEG), Genting Malaysia Bhd, Pintaras Jaya Holdings Bhd, Felda Global Ventures Holdings Bhd, Hume Industries Holdings Bhd, Bertam Alliance Bhd, Kuala Lumpur Kepong Bhd, Sime Darby Bhd and Carlsberg Brewery Malaysia Bhd.

The actives included Lion Corp Bhd, Lion Diversified Holdings Bhd, Felda Global Ventures, Sona Petroleum Bhd, MyEG and AirAsia Bhd.

The top losers included British American Tobacco (M) Bhd, KESM Industries Bhd, Heineken Malaysia Bhd, Petronas Dagangan Bhd, Ta Ann Holdings Bhd, IHH Healthcare Bhd, Hong Leong Financial Group Bhd and Nestle (M) Bhd.

Asian shares got off to a tentative start on Wednesday, while the yen was steady as investors braced for the outcome of the Bank of Japan's policy meeting amid heightened speculation the central bank will make crucial changes to its massive easing programme, according to Reuters.

The BOJ is expected to make negative interest rates the centrepiece of a new policy framework - widely seen as a desperate attempt to show it still has the firepower to lift Japan out of years of stagnation, it said.

Hong Leong IB Research said selling pressures (at Bursa Malaysia) should subside following the bullish hammer candlestick formation yesterday and ahead of the highly anticipated BOJ policy outcome today.

"We expect market to stabilise further amid clarity from the FOMC policy statement (to be released by 3am on 22 Sep)," it said.

 

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