Friday 26 Apr 2024
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KUALA LUMPUR (Dec 10): The FBM KLCI kicked off to a muted start today in line with the slip at most regional markets, while Red Sena Bhd fell on its debut at Bursa Malaysia.

At 9am, the FBM KLCI added 1.11 points to 1,660.47.

Among the early gainers were Top Glove Corporation Bhd, IHH Healthcare Bhd, Tenaga Nasional Bhd, Petronas Chemicals Group Bhd, Kuala Lumpur Kepong Bhd, Guinness Anchor Bhd, Hartalega Holdings Bhd and Syarikat Takaful Malaysia Bhd.

Meanwhile, Red Sena fell 11 sen to 39 sen with 7.19 million shares traded.

Asian stocks slipped on Thursday as weak oil prices continued to feed global growth worries, while the euro held solid gains after a policymaker poured cold water on market expectations of more easing by the European Central Bank, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.2%, it said.

JF Apex Securities Research in a market preview today said US markets surrendered earlier gains following renewed concerns on oil prices.

Similarly, it said European stocks ended lower as investors monitor oil prices, commodity counters and volatile currency markets.

"On the local exchange, the FBM KLCI extended its losing streak after losing 9.88 points to 1,659.36 points.

"Following the lackluster US and European markets, we expect the KLCI to remain pressured with immediate support at 1,645 points," it said.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

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