KUALA LUMPUR (July 7): The FBM KLCI extended its gains in early trade today and rose 0.67% as index-linked glove makers continued their dominance on the local bourse on rising virus cases overseas against a backdrop of mixed regional markets.

At 9.06am, the bellwether index was up 10.71 points at 1,587.61.

The top gainers included Top Glove Corp Bhd, Kossan Rubber Industries Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd and Panasonic Manufacturing Malaysia Bhd.

Bloomberg said Asian stocks were mixed today after strong global gains yesterday saw US shares close higher for a fifth day.

The US dollar remained under pressure.

Rakuten Trade Sdn Bhd in its daily market report said Wall Street closed broadly higher on better-than-expected jobs data that strengthened investors’ confidence in equities despite a surge in Covid-19 cases in the US.

It said the Dow Jones Industrial Average gained 460 points to just below the 26,300 level.

“Such a resurgence could prompt continued buying in the regional markets today, although profit taking may emerge following yesterday’s solid gains.

“As for the local bourse, strong buying support from domestic investors has helped push the FBM KLCI higher than the pre-MCO levels and may test the 1,600 mark last seen in January this year.

“Nonetheless, we caution that profit taking may take place soon with immediate support at the 1,570 level,” it said.