KUALA LUMPUR (March 31): The FBM KLCI rose 0.74% early on in the final trading day of the volatile first quarter of 2020, tracking regional gains.

At 9,05am, the FBM KLCI rose 9.84 points to 1,338.72. Having said that, the index has lost some 250 points year-to-date.

The early advancers included Carlsberg Brewery Malaysia Bhd, LPI Capital Bhd, Hong Leong Financial Group Bhd, Hong Leong Bank Bhd, United Plantations Bhd, Pentamaster Corp Bhd, Public Bank Bhd, Genting Bhd and Scientex Bhd.

Reuters said Asian share markets managed a tentative rally on Tuesday after European and U.S. equities stabilised, though buying for month and quarter-end book balancing likely flattered the gains.

There were also hopes a survey of Chinese manufacturing due later would show a sizable improvement for March as factories began to re-open, it said.

JF Apex Securities Research said US markets surged 3% overnight after the government extended social distancing guidelines to 30th April to contain the coronavirus.

It said that earlier, European stocks posted slight gains after the US President tracked back from his comments to reopen businesses by Easter.

“On the local market, the FBM KLCI lost 14.21 points to 1328.88 points.

“Following the positive performances in the US and Europe, the FBM KLCI could climb towards its resistance of 1370 points,” it said.

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