Friday 29 Mar 2024
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KUALA LUMPUR (Sept 25): The main index at Bursa Malaysia rose 0.53% in early trade Friday after Malaysia was retained on the Watch List of the FTSE World Government Bond Index (WGBI), as of the September 2020 review, for possible reclassification from Market Accessibility Level 2 to 1.

In the classification published Sept 24, FTSE Russell acknowledged the additional initiatives instigated by Bank Negara Malaysia (BNM), over the last twelve months to improve the accessibility of the Malaysian government bond market for foreign investors.

At 9.05am, the benchmark FBM KLCI rose 8.01 points to 1,508.81.  

The early gainers included Hartalega Holdings Bhd, Kossan Rubber Industries Bhd, Top Glove Corp Bhd, Time Dotcom Bhd and Supermax Corp Bhd.

Bloomberg stocks in Asia rose Friday with U.S. equity futures as investors weighed the chances of a new American stimulus package against an uptick in global coronavirus cases.

The offshore yuan climbed on optimism about inflows into Chinese assets, it said.

Rakuten Trade Sdn Bhd in its daily market report said Wall Street closed marginally higher as it attempts to stage a strong rebound from its recent correction as news of fresh stimulus plans of US2.4 trillion is back on negotiation albeit at a lower amount.

It said the Dow Jones closed 0.2% higher to 26,763.13 level while the Nasdaq recovered from an early tumble to inch up 0.37% at 10,672.27 while the S&P 500 is up 0.3% to 3,246.59.

“Regional markets are likely to follow the stronger close in US markets.

“Back on our local front, KLCI is expected to see positive bias with support level at 1,500 with possible window dressing activities hence investors should bargain hunt and adopt the “buy the dips”,” it said.

 

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