KLCI edges up in line with regional markets

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opening_market_up_theedgemarkets

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KUALA LUMPUR (April 27): The FBM KLCI edged up in early trade in line with the uptick at most regional markets.

At 9am, the FBM KLCI rose 2.11 points to 1,864.69.

The top gainers included British American Tobacco (M) Bhd, Boustead Holdings Bhd, Telekom Malaysia Bhd, Hong Leong Bank Bhd, Hartalega Holdings Bhd, Pharmaniaga Holdings Bhd, Fraser * Neave Holdings Bhd, Aeon Credit Services (M) Bhd and GD Express Carrier Bhd.

Asian shares scaled seven-year highs following stellar earnings from a few U.S. hi-tech giants, but investors were cautious ahead of central bank meetings this week in the U.S. and Japan and on apparent deadlock in Greece's talks with creditors, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was rose 0.3 percent in early trade though Japan's Nikkei slipped 0.4 percent, largely on the yen's gains, it said.

JF Apex Securities Research in a market preview today said US markets rose as the Nasdaq extended its all-time high.

Similarly, it said European stocks closed higher on corporate earnings and improved Germany business sentiment in April.

“Back home, the FBM KLCI surged 16.50 points to 1862.58 points.

“Following its positive momentum, we expect the index to hover and consolidate above the threshold of 1860 points,” it said.