Friday 29 Mar 2024
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KUALA LUMPUR (Aug 11): The FBM KLCI opened flat this morning in line with the subdued regional markets following the overnight decline at Wall Street.

At 9.01am, the FBM KLCI rose 1.64 points to 1,674.67.

The early gainers included MNRB Holdings Bhd, RCE Capital Bhd, Tenaga Nasional Bhd, Mesiniaga Bhd, Teck Guan Perdana Bhd, RHB Bank Bhd, JHM Consolidation Bhd, IOI Corporation Bhd and Tadmax Resources Bhd.

Asian shares fell on Thursday, reversing recent gains as investors took profits after Wall Street declined overnight, and oil prices tumbled on news of a surprising jump in U.S. government stockpiles, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 percent in early Asian trade. It hit a one-year high on Wednesday and has broadly outperformed the MSCI world index since end-June, it said.

JF Apex Securities Research in a market preview today said US markets declined overnight led by energy counters following lower oil prices.

It said that similarly, European stocks also dropped after falling oil price and disappointing quarterly earnings.

“On the local market, the FBM KLCI ended flat after gaining 1.32 points to 1673.03 points.

“Following the negative performance in the US and Europe, the FBM KLCI could pull back from recent gains and consolidate below the resistance of 1685 points,” it said.

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