KUALA LUMPUR (Sept 14): The FBM KLCI tracked regional gains in early trade and rose 0.58% as index-linked glovemakers lifted.
At 9.05am, the benchmark index rose 8.83 points to 1,513.68.
The top gainers included Nestle (M) Bhd, Supermax Corp Bhd, Top Glove Corp Bhd, Kossan Rubber Industries Bhd, Heineken Malaysia Bhd and Hartalega Holdings Bhd.
Bloomberg said Asian stocks started the week with gains and U.S. futures pointed higher as investors looked ahead to a Federal Reserve meeting that could provide clues on the policy outlook.
The dollar and Treasuries were little changed, it said.
Rakuten Trade Sdn Bhd in its daily market report said Wall Street endured a volatile session last Friday and ended mixed with the Dow Jones Industrial Average ending 131 points higher at 27,665 whilst the Nasdaq lost 66 points to close at 10,853.
“Nonetheless, the Dow futures are up by more than 150 points at time of writing hence we reckon regional markets to be rather steady today with some upward bias.
“Locally, we believe the FBM KLCI to see continued buying support following last week strong closing.
“As such, we expect the benchmark index to test the 1,510/15 level today,” it said.