Thursday 28 Mar 2024
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KUALA LUMPUR (Sept 21): The FBM KLCI rose 0.39% at midday break Friday, tracking gains at regional markets, as worries over the US-China trade tensions abated somewhat.

At 12.30pm, the FBM KLCI was up 7.08 points to 1,810.78.

Gainers led losers by 376 to 310, while 1,207 counters traded unchanged. Volume was 928.97 million shares valued at RM809.89 million.

Gainers included Hong Leong Industries Bhd, British American Tobacco (M) Bhd, QL Resources Bhd, Petronas Dagangan Bhd, Aeon Credit Service (M) Bhd, Genting Malaysia Bhd, Kuala Lumpur Kepong Bhd, SAM Engineering & Equipment Bhd, Chemical Company of Malaysia Bhd and Press Metal Aluminium Holdings Bhd.

The actives included My EG Services Bhd, Sapura Energy Bhd, Lion Industries Bhd, Velesto Energy Bhd, Tiger Synergy Bhd, Nova MSC Bhd, XOX Bhd and Ucrest Bhd.

Losers included Malaysia-listed Hang Seng Index-linked put warrants, Padini Holdings Bhd, Carlsberg Brewery Malaysia Bhd, Southern Acids (M) Bhd, Kawan Food Bhd and ViTrox Corp Bhd.

Asian stocks extended gains on Friday after Wall Street's S&P 500 set a new all-time high, while the dollar slipped on views Beijing's and Washington's fresh exchange of tariffs may be less damaging than initially feared, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6%. It has rebounded 4% from a 14-month low on Sept 12, buoyed in part by expectations China will pump more stimulus into its economy to weather the trade war, it said.

Affin Hwang Capital Research said the FBM KLCI Index inched higher (up 2.99 points) yesterday.

“Prices have formed a small gravestone doji on the daily chart — bearish reversal candlestick pattern. Nonetheless, positive sentiments surrounding the global markets & technical indicators [are] beginning to show increase in momentum may push the index higher today;

“The FBM KLCI Index may experience normal consolidation in the near-term,” the research house said.

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