Thursday 28 Mar 2024
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KUALA LUMPUR (July 2); The FBM KLCI extended its gains in early trade today, lifted by select blue chips on improved local market sentiment.

At 9.01am, the FBM KLCI rose 2.11 points to 1,730.07.

The top gainers included Lii Hen Industries Bhd, Time DotCom Bhd, IQ Group Bhd, Genting Plantations Bhd, MISC Bhd, Sasbadi Holdings Bhd, Petronas Dagangan Bhd, Bursa Malaysia Bhd, Tan Chong Motor Holdings Bhd and Gamuda Bhd.

Asian stocks were subdued on Thursday as Greece's refusal to back down in a standoff with its creditors kept most markets on edge, while the dollar got a boost from upbeat U.S. economic indicators, accoding to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan stood flat. Tokyo's Nikkei climbed 1.3 percent thanks to a weaker yen, while South Korea's Kospi was flat, it said.

JF Apex Securities Research in a market preview today said US equities gained following better-than-expected economic data on manufacturing and construction.

Meanwhile, it said European markets rose following new hopes of agreement between Greece and its lenders.

“On the local market, the FBM KLCI jumped 21.32 points to 1727.96 points in a sharp rebound after Fitch reaffirmed the country’s sovereign rating and upgraded its outlook from ‘negative’ to ‘stable’.

“Following the positive development in Greece, the KLCI could extend its rally and retest its resistance level of 1730 points,” it said.

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