KLCI rises 0.29% in early trade in line with region
KUALA LUMPUR (March 29): The FBM KLCI extended its gains in early trade this morning, in line with the advance at most regional markets.
At 9.05am, the FBM KLCI rose 5.25 points to 1,759.67.
The top gainers included British American Tobacco (M) Bhd, Dutch Lady Milk Industries Bhd, Malaysia Airports Holdings Bhd, United Malacca Bhd, PPB Group Bhd, Hong Leong Bank Bhd, Kuala Lumpur Kepong Bhd, Hap Seng Consolidated Bhd and Petron Malaysia Refining & Marketing Bhd.
Asian shares inched ahead on Wednesday while the dollar and commodities rallied as investors shook off disappointment about U.S. President Donald Trump's failed healthcare bill and focussed on an improving outlook for global growth, according to Reuters.
The cheerful mood did not extend to the pound which was on the skids as the British government sent a letter to Brussels formally starting the country's exit from the European Union, it said.
JF Apex Securities Research in a market preview today said US markets ended its 8-day losing streak led by banking counters following improved consumer sentiment data.
Similarly, it said European stocks rebounded after less concerns on US President Donald Trump's setback on implementing his policies.
“On the local market, the FBM KLCI rose 9.47 points to 1754.42 points.
“Following the positive performance in the US and Europe, the FBM KLCI is expected to resume its ascend with resistance at 1770 points,” it said.
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