Friday 29 Mar 2024
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KUALA LUMPUR (Sept 29): The main index at Bursa Malaysia started Tuesday on a positive note and rose in tandem with regional markets, riding on the overnight rally at Wall Street.

At 9.05am, the benchmark FBM KLCI rose 4.28 points to 1,515.94.

The early gainers included Carlsberg Brewery Malaysia Bhd, Public Bank Bhd, Malaysian Pacific Industries Bhd, United Plantations Bhd, Yinson Holdings Bhd, UWC Bhd. KLCC Property Holdings Bhd and JF Technology Bhd

Bloomberg said Asian stocks look set to extend a global rally amid broad gains for equities led by financial shares.

The dollar weakened, it said.

Rakuten Trade Sdn Bhd in its daily market report said Wall Street started the week on a high on expectations that a stimulus package would be agreed upon soon.

It said the Dow Jones Industrial Average climbed 410 points to above the 27,500 mark.

“Buoyed by the broad based buying, we expect regional markets to maintain their uptrend today.

“Locally, we expect the FBM KLCI to maintain its ascension as interests on the pandemic related stocks to continue garnering buying interests.

“Therefore, we reckon the benchmark index to challenge the 1,520 level today hopefully breaking out from its prolonged consolidation mode,” it said.

 

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