Thursday 28 Mar 2024
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KUALA LUMPUR (May 15): The FBM KLCI started on a muted note today despite the uptrend at most global markets, but newly listed Malakoff Corporation Bhd rose in active trade.

At 9am, the FBM KLCI shed 0.94 points to 1,806.61.

Malakoff gained two sen to RM1.82 with 14.27 million shares done.

Elsewhere, the top losers included Hong Leong Bank Bhd, Tenaga Nasional Bhd, Genting Bhd, Nestle (M) Bhd, APM Automotive Bhd, Axiata Group Bhd, Oriental Food Industries Bhd, UMW Oil & Gas Corporation Bhd and Tan Chong Motor Holdings Bhd.

Asian shares gained in early trading on Friday, on track for a weekly rise, after Wall Street cheered a cool reading for producer price inflation that chilled expectations of a Federal Reserve rate hike, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.3 percent higher, poised to gain about 1 percent for the week. Japan's Nikkei stock index was up 0.5 percent, set for a 1.5 percent weekly rise, it said.

Hong Leong IB Research in a market preview today said that unless the index can swiftly stage a quick and decisive breakout above immediate key resistance near 200-d SMA of 1815, there was still downside pressure for Bursa Malaysia in the short term.

 

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