Thursday 28 Mar 2024
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KUALA LUMPUR (May 28): The FBM KLCI rose 0.53% at the midday break today, lifted by gains at index-linked blue chips Tenaga Nasional Bhd, Genting Bhd and Public Bank Bhd.

At 12.30pm, the FBM KLCI rose 8.44 points to 1,609.79.

Gainers led losers by 286 to 249, while 458 counters traded unchanged. Volume was 786.81 million shares valued at RM495.84 million.

The gainers included Nestle (M) Bhd, Public Bank, APM Automotive Holdings Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Tenaga Nasional, Sime Darby Plantation Bhd, Genting, Malaysian Pacific Industries Bhd and United Plantations Bhd.

The actives included Vortex Consolidated Bhd, Scomi Group Bhd, Ekovest Bhd, KNM Group Bhd and Bumi Armada Bhd.

The decliners included Panasonic Manufacturing Malaysia Bhd, Carlsberg Brewery Malaysia Bhd, Tong Herr Resources Bhd, Focus Lumber Bhd, Lingkaran Trans Kota Holdings Bhd, KESM Industries Bhd and Turbo-Mech Bhd.

Asian shares edged up on Tuesday, lifted by gains in China and as auto firms climbed on merger news, but broad uncertainties over trade and economic growth kept a lid on gains, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.31%, and US S&P 500 e-mini futures rose 0.19% to 2,837.25, it said.

CIMB Retail Research said amid the tit-for-tat trade tension between the US and China, the benchmark FBM KLCI closed 3 points or 0.19% higher on Monday.

It said the overall market breadth stayed bearish.

"A range-bound trading would continue to persist amid the ongoing trade tension between US and China.

"The FBM KLCI is still sitting above its wedge support. It is likely to hover around the psychological 1,600 mark in the near term.

"Resistance: 1,630 & 1,644. Support: 1,600 & 1,572," it said.

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