Friday 29 Mar 2024
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KUALA LUMPUR (July 3): The FBM KLCI ticked up in early trade and looked set to push for positive close heading into the weekend, albeit cautiously in line with regional markets.

At 9am, the FBM KLCI rose 3.35 points to 1,737.23.

Th etop gainers in early trade included Tenaga Nasional Bhd, Tan Chong Motor Holdings Bhd, My E.G. Services Bhd, Sime Darby Bhd, BIMB Securities Bhd, Cahya Mata Sarawak Bhd, Medi Prima Bhd and Kossan Rubber Industries Bhd.

Asian stocks were little changed on Friday, with investors reluctant to stake out fresh positions after disappointing U.S. employment data and cautious ahead of Greece's weekend referendum which may decide its future in Europe, according to Reuters.

China's increasingly volatile markets may upstage Greek concerns in the session, after that country's securities market regulator said it had opened an investigation into suspected market manipulation after a slump of more than 20 percent in Chinese stocks since mid-June, it said.

JF Apex Securities Research in a market preview today said US equities ended slightly lower overnight following softer jobs report and low trading volume ahead of Independence Day holiday.

Meanwhile, it said European markets closed lower except UK as investors turned cautious ahead of Greece's referendum on Sunday.

“Back home, the FBM KLCI climbed 5.92 points to 1733.88 points to extend its rebound.

"We expect the index's rally to take a breather as profit taking kick in. Immediate support and resistance are seen at 1705 and 1765 points respectively,” it said.

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