Thursday 25 Apr 2024
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KUALA LUMPUR (Sept 29): The FBM KLCI notched up limited gains at mid-morning today, underpinned by the advance at most regional markets and overnight rally at Wall Street.

At 10.01am, the FBM KLCI was up 2.78 points to 1,667.74.

The gainers included British American Tobacco (M) Bhd, Apex Healthcare Bhd, Hong Leong Bank Bhd, Amway (M) Holdings Bhd, Lay Hong Bhd, Tan Chong Motor Holdings Bhd, Aturmaju Resources Bhd, Malayan Banking Bhd and SapuraKencana Petroleum Bhd.

The actives included Borneo Oil Bhd, Sumatec Resources Bhd, Bumi Armada Bhd, Perisai Petroleum Teknologi Bhd, Asia Media Group Bhd and KNM Group Bhd.

The top losers included Genting Plantations Bhd, Top Glove Corp Bhd, Kossan Rubber Industries Bhd, Hong Leong Industries Bhd, Public Bank Bhd, Gas Malaysia Bhd and Pos Malaysia Bhd.

Asian stocks gained on Thursday in tandem with an oil price rally after OPEC members agreed to curb output - boosting investor risk appetite, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.6 percent, it said.

Hong Leong IB Research said given the extended rally in Dow and overnight strong rebound in oil prices, the FBM KLCI may witness a positive performance today, helped by potential 3Q16 window dressing activities and pre-Budget rally coupled with the readiness of Bank Negara Malaysia to support economic growth via easing.

"Immediate upside targets are 1678-1684 while supports fall on 1650-1657" it said.

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