Thursday 28 Mar 2024
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KUALA LUMPUR (July 9): The FBM KLCI ticked up marginally in early trade this morning, lifted by select index-linked Tenaga Nasional Bhd and Top Glove Corp Bhd.

At 9.05am, the FBM KLCI  added 1.57 points to 1,679.21.

The gainers included Carlsberg Brewery Malaysia Bhd, Cheetah Holdings Bhd, Tenaga Nasional Bhd, Texchem Resources Bhd, Yee Lee Corp Bhd, G3 Global Bhd, Gabungan AQRS Bhd and Top Glove Corp Bhd.

Asian stocks were set for a muted start to trading as their U.S. counterparts slipped and Treasuries edged lower. The yen held near a four-week low, according to Bloomberg.

Futures ticked higher in Japan and Hong Kong, and were little changed in Australia. U.S. equities fell for a second day Monday as investors took a cautious approach at the start of a week full of central bank activity. Shorter-term Treasuries fell more than longer-dated ones, gold slipped fell for a third day, and the dollar edged higher versus major peers, it said.

Kenanga IB Research said Asian shares end lower on Monday after strong US job gains tempered expectations on a possible Fed rate cut.

It said back home, the FBM KLCI fell 4.89 points or 0.29% to end at 1,677.64.

“Chart-wise, the index continued its downward movement after it failed to break and hold above the strong psychology resistance at 1,690.

“A small “Doji” candle was formed yesterday as market remained cautious while waiting for BNM’s monetary policy announcement today.

“From here, resistances can be found at 1,700 (R1). A break above should see the index trend higher towards 1,730 (R2),” it said.

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