KUALA LUMPUR (Nov 24): The FBM KLCI rose 0.68% at mid-morning today, lifted by gains at Tenaga Nasional Bhd and key blue chips.
At 10am, the FBM KLCI rose 11.51 points to 1,682.41.
The top gainers included Tenaga, Daibochi Plastic & Packaging Industry Bhd, Petronas Gas Bhd, United Plantations Bhd, Can-One Bhd, Kuala Lumpur Kepong Bhd, MISC Bhd and Oriental Interest Bhd.
The actives included RGB International Bhd, Inix Technologies Bhd, Genetec Technology Bhd, Instacom Group Bhd, Pesona Metro Holdings Bhd, JCY International Bhd, China Stationery Ltd Bhd, Perwaja Holdings Bhd and KNM Group Bhd.
The top losers included Signature International Bhd, British American Tobacco (M) Bhd, Pos Malaysia Bhd, Lay Hong Bhd, Batu Kawan Bhd, Kossan Rubber Industries Bhd and SAM Engineering & Equipment Bhd.
Asian shares dragged their feet on Tuesday after a healthcare mega-merger failed to impress investors while the dollar held firm near an eight-month high as investors grew more convinced of a U.S. rate hike next month, aaccording to Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat while Japan's Nikkei dipped 0.1 percent after a long weekend, it said.
Hong Leong IB Research said the FBM KLCI was likely to trend higher today as reading from all indicators and small hammer-like candlestick on 16 Nov suggested that buying momentum is picking up pace.
“Moreover, Valuecap factor, year-end window dressing activities, more comfortable view on Fed’s potential liftoff in Dec and potential ECB’s stimulus in Dec are likely to provide near term rerating catalysts for KLCI.
“Resistance 1674-1700 whilst supports are situated at 1660-1642,” it said.