BeritaKini.biz Berita Viral Terkini di Malaysia
KUALA LUMPUR: The FBM KLCI trended higher in early Friday trade, boosted by a stronger Wall Street overnight performance following encouraging weekly jobless claims data that raised hopes for interest-rate cuts.
The benchmark index added 1.72 points, or 0.11% to 1,602.94 at 9.18 am. The index opened 2.24 points higher at 1,603.46 earlier.
Overnight, the S&P 500 gained 0.51% to 5,214.08 points, while the Nasdaq Composite added 0.27% to 16,346.27. The Dow Jones Industrial Average rose 0.85%, to 39,387.76.
Inter-Pacific Research said the key index could mount a rebound to end the week on a firmer note after a two-day consolidation.
The research house noted that the market remains overbought, although this may persist temporarily due to a generally positive market sentiment that could limit any potential pullback.
“Bargain hunting activities could emerge again and this is likely to provide the lift to the FBM KLCI to regain some traction as stocks on Bursa Malaysia could be riding on the sustained positivity among key global indices to head higher.
“This is likely to see the key index recapturing the 1,608 level with the key index making further headway to re-test the 1,610 level over the near-term. On the downside, the supports remain at the 1,595 and 1,590 levels respectively,” Inter-Pacific said.
Meanwhile, Rakuten Trade believes the benchmark index to trend between 1,600 and 1,610 today with interests returning to the construction and telco segments.
“We are neutral on Bank Negara’s widely expected move to maintain the OPR at 3% yesterday,” it added.
Among the gainers on Bursa Malaysia, Sungei Bagan Rubber jumped 45 sen to RM5.42, Kuchai Development rose 30 sen to RM2.13 and MCE gained 24 sen to RM1.95.
Dutch Lady slid 58 sen to RM32.80, Negri Sembilan Oil Palms lost 14 sen to RM3.76 and Kuala Lumpur Kepong fell 12 sen to RM22.80.
Pan Malaysia Holdings is the most active counter on Bursa Malaysia. It fell 0.1 sen to 28.5 sen with 43.79 million shares traded.
