KLCI rises 1.34% to cross 1,400-point threshold as regional markets advance on U.S. initiatives to reopen economy

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KUALA LUMPUR (April 17): The FBM KLCI rose 1.34% in early trade this morning as bargain hunting pushed the bellwether to cross the 1,400-point threshold as regional markets advanced, lifted by key index-linked heavyweights.  

At 9.05am, the FBM KLCI rose 18.87 points to 1,405.40.

Among the early gainers included Carlsberg Brewery Malaysia Bhd, Tenaga Nasional Bhd, Petronas Dagangan Bhd, Petronas Gas Bhd, MISC Bhd, Heineken Malaysia Bhd, British American Tobacco (M) Bhd, KESM Industries and Scientex Bhd.

Bloomberg reported Stocks rose in Asia along with U.S. equity futures amid tentative steps to restart the American economy and progress on the fight against the coronavirus.

Treasuries retreated with the dollar, it said.

JF Apex Securities Research said US markets climbed overnight amid jobless claims data and easing concern over the coronavirus.

It said that earlier, European stocks advanced as countries begin to plan their exit from the coronavirus lockdown.

“On the local market, the FBM KLCI shed 1.26 points to 1386.53 points.

“Following the positive performances in the US and Europe, the FBM KLCI could remain buoyed with resistance at 1415 points,” it said.

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