KLCI rises 0.22% in line with region, Public Bank lifts

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KUALA LUMPUR (Feb 26): The FBM KLCI started the week on a positive note this morning, in tandem with gains at regional markets.

At 9.05am, the FBM KLCI was up 4.12 points to 1,865.62.

The gainers included Scientex Bhd, Public Bank Bhd, Kobay Bhd, Hong Leong Bank Bhd, Mentiga Corp Bhd, Petron Malaysia Refining & Marketing Bhd, Hengyuan Refining Company Bhd and SIG Gases Bhd.

Asian markets were in a guardedly upbeat mood on Monday, heading into an event-packed week headlined by U.S. inflation data and the first House testimony by the new head of the Federal Reserve, according to Reuters.

A modest improvement in risk appetite saw the safe-haven yen lost ground, while MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.3 percent, it said.

JF Apex Securities Research in a market preview said US markets rallied on Friday in volatile trading as interest rate came off a four-year high.

It said European stocks edged higher following quarterly earnings and US Federal Reserve monetary policy report.

“On the local market, the FBM KLCI rose 6.43 points to 1861.50 points.

“Following the bullish momentum the FBM KLCI could retest the resistance of 1880 points,” it said.