KLCI rises 0.5%, PetDag and Hartalega lift as regional markets trade mixed

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KUALA LUMPUR (April 9): The FBM KLCI rose 0.5% in early trade Thursday, lifted by gains including at Petronas Dagangan Bhd (PetDag) and Hartalega Holdings Bhd, against the backdrop of mixed regional markets.

At 9.05am, the FBM KLCI rose 7.13 points to 1,368.52.

The top gainers included Syarikat Takaful Malaysia Keluarga Bhd, Time Dotcom Bhd, PetDag, DKSH Holdings (M) Bhd, Allianz Malaysia Bhd, Bursa Malaysia Bhd, Hartalega and British American Tobacco (M) Bhd.

Bloomberg said Asian stocks were mixed Thursday following a three-day rally as investors mulled the spread of the coronavirus and when economies will be able to ramp up again.

Oil rose amid expectations for production cuts, it said.

JF Apex Securities Research said US markets surge around 3% overnight following political development in the presidential race and hopes of lower coronavirus cases.

It said that earlier, European stocks retreated due to lingering concerns over the pandemic.

“On the local market, the FBM KLCI declined 8.53 points to 1361.39 points.

“Following the mixed performances in the US and Europe, the FBM KLCI could hover sideways below the resistance of 1370 points,” it said.

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