KLCI rises 0.69% as blue chips lift

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KUALA LUMPUR (Nov 17): The FBM KLCI rose 0.69% at mid-morning today, lifted by blue chips as the local index snapped its losing streak.

At 10.01am, the FBM KLCI rose 11.64 points to 1,667.64.

The top gainers included British American Tobacco (M) Bhd, PPB Group Bhd, Hong Leong Financial Group Bhd, UMW Holdings Bhd, Ta Ann Holdings Bhd, Kuala Lumpur Kepong Bhd and Petronas Dagangan Bhd.

The actives included Idimension Consolidated Bhd, The Media Shoppe Bhd, Instacom Group Bhd, Hibiscus Petroleum Bhd, Borneo Oil Bhd and Nexgram Holdings Bhd.

The decliners included Lafarge Malaysia Bhd, Latitude Tree Holdings Bhd, BLD Plantation Bhd, Tune Protect Group Bhd and Subur Tiasa Holdings Bhd.

Asian stocks gained early on Tuesday, taking heart after seeing Wall Street take the attacks in Paris in stride and surge overnight, while expectations for a rate hike by the Federal Reserve in December kept the dollar on a bullish footing, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent. Australian shares gained 0.8 percent. Japan's Nikkei added 1.3 percent, it said.

Hong Leong IB Research said the FBM KLCI is likely to stage a mild rebound today, tracking overnight recovery in US and European markets amid expectations that the terrorist attacks in Paris would not have a lasting impact to global economy and equity markets.

“Key resistance levels are 1669-1685 while supports fall on 1615-1642,” it said.