KUALA LUMPUR (Nov 29): The FBM KLCI rose 0.66% in early trade this morning in line with the gains at most regional markets.

At 9.05am, the FBM KLCI rose 11.16 points to 1,697.71.

The gainers included IHH Healthcare Bhd, PPB Group Bdh, KESM Industries Bhd, Petronas Gas Bhd, Fraser & Neave Holdings Bhd, Johore Tin Bhd, Axiata Group Bhd and Supermax Corp Bhd.

Asian stocks rose on Thursday tracking a Wall Street rally as dovish comments from Federal Reserve Chair Jerome Powell boosted investor sentiment towards riskier assets, according to Reuters.

The dollar sagged against its peers on Powell's comments, which suggested the Fed's interest rate hike cycle may come to an end faster than initially anticipated, it said.

Kenanga IB Research said Asian markets closed mostly higher as investors await G20 summit and a private meeting between the US and China later this week.

It said back home, the FBM KLCI gained 1.58 points or 0.09% to close at 1,686.55.

The research house said the technical outlook continues to remain fragile for now as the index is still hovering below its key SMAs.

“However, should there be further positive development, we may review our stance.

“From here, immediate support levels to watch out for are 1,680 (S1) and 1,650 (S2) where a break below would complete what is now a potential descending triangle. 

“Should the market sentiment improve from here, key levels of resistance to look for are at 1,740 (R1) and 1,760 (R2),” it said.