Friday 29 Mar 2024
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NEW YORK (March 27): The FBM KLCI opened lower today, weighed by losses at select blue chips.

At 9.01am, the FBM KLCI was down 3.32 points to 1,815.10.

The top losers included British American Tobacco (M) Bhd, Allianz Malaysia Bhd, Latitude Tree Holdings Bhd, Bursa Malaysia Bhd, Genting Bhd, Malaysia Airports Holdings Bhd, UMW Holdings Bhd, IJM Corporation Bhd, Public Bank Bhd and AMMB Holdings Bhd.

Asian stocks crawled higher on Friday as upbeat U.S. economic data helped revive some risk appetite lost following air strikes on Houthi militants in Yemen, while the dollar rebounded, according to Reuters.

Crude oil prices were slightly lower on the dollar's bounce after surging overnight on the escalating conflict in Yemen, it said.

BIMB Securities Research in a market preview Friday said that in Asia, stocks were broadly lower on Thursday due to the lack of buying catalysts amid the skirmishes in Yemen.

Locally, it said the FBM KLCI was relatively flat at 1,818.42 or a mere 0.68 point lower.

“Following a string of foreign fund inflows last week, yesterday saw a slight net foreign outflow of RM9.3 million.

“For the month of March, there remains a net foreign outflow of almost RM800 million but is a vast improvement from the RM1.9 billion during the first half of the month.

“Today we may continue to see investors sidelined with some downtrend bias. The FBM KLCI is expected to trend between the 1,815/1,120 range,” it said.

 

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