KLCI edges higher, tracks regional gains

TheEdge Thu, Mar 29, 2018 09:11am - 6 years View Original


KUALA LUMPUR (March 29): The FBM KLCI edged in higher in early trade this morning, tracking regional gains, lifted by select index-linked blue chips.

At 9.05am, the FBM KLCI added 1.93 points to 1,859.80.

The gainers included British American Tobacco (M) Bhd, Petron Malaysia Refining & Marketing Bhd, FACB Industries Bhd, Hengyuan Refining Company Bhd, Favelle Favco Bhd, Genting Malaysia Bhd, Hai-O Enterprise Bhd, Lotte Chemical Titan Holding Bhd and Muda Holdings Bhd.

Asian stocks edged up and the safe haven yen was broadly lower against the dollar on Thursday amid perceived progress on North Korea issues, although equity gains were limited after a tech-led retreat on Wall Street, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.05 percent, it said.

JF Apex Securities Research in a market preview said US markets tumbled overnight following losses in technology counters such as Apple, Amazon and Netflix.

Similarly, it said European stocks declined following negative investor sentiment on technology counters after Facebook's data scandal.

“On the local bourse, the FBM KLCI lost 4.58 points to 1857.87 points.

“Following the bearish performance in the US and Europe, the FBM KLCI is expected to be negative today with support at 1840 points,” it said.

 

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