Friday 29 Mar 2024
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KUALA LUMPUR (Oct 16): The FBM KLCI opened today on a positive note in line with the upbeat regional markets, lifted by select blue chips.

At 9.01am, the FBMKLCI gained 3.49 points to 1,716.74.

The top gainers included Top Glove Corporation Bhd, Public Bank Bhd, Lafarge Malaysia Bhd, MISC Bhd, Puncak Niaga Holdings Bhd, Alliance Financial Group Bhd, IOI Corporation Bhd, Ajiya Bhd and SAM Engineering & Equipment Bhd.

Asian shares got a bright start on Friday, catching some of Wall Street's shine after upbeat U.S. price and jobless claims data calmed some recent concerns about the strength of the U.S. economy, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5 percent in early trading, touching fresh two-month highs and on track for a robust weekly gain of 1.6 of percent, it said.

JF Apex Securities Research in a market preview today said US markets rallied with financial counters taking lead as low inflation data could postpone interest rate hike.

Similarly, it said European stocks rose as investors digest corporate earnings and lower oil price.

“On the local market, the FBM KLCI ended 2.11 points higher at 1713.25 points after coming off an intra-day high of 1721.34 points.

“Following the bullish performance in Wall Street overnight, we expect the KLCI to rise towards its resistance of 1740 points,” it said.

 

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