The FBM KLCI crossed the 1,700-point psychological level at mid-morning today in line with the firmer regional markets.
At 10.01am, the FBM KLCI rose 3.70 points to 1,700.24.
The top gainers included Kuala Lumpur Kepong Bhd, Far East Corporation Bhd, Bintulu Port Holdings Bhd, Petron Malaysia Refining & Marketing Bhd, Genting Plantations Bhd, British American Tobacco (M) Bhd, Can-One Bhd, Press Metal Bhd, MISC Bhd and Sarawak Oil Palms Bhd.
The actives included SMTrack Bhd, Hibiscus Petroleum Bhd, Vivoom International Holdings Bhd, XOX Bhd, Wintoni Group Bhd, Bioalpha Holdings Bhd and AirAsia X Bhd.
The decliners included Petronas Gas Bhd, Time Dotcom Bhd, Petronas Dagangan Bhd, Top Glove Corporation Bhd, United Plantations Bhd, Carlsberg Brewery (M) Holdings Bhd, Oriental Interest Bhd, Bursa Malaysia Bhd and Tasek Corporation Bhd.
Asian shares started the week higher on Monday, buoyed by gains on Wall Street, firmer crude prices and glimmers of strength in weekend data from China, according to Reuters.
The S&P 500 ended at its highest level of the year on Friday as oil prices climbed further and investors reassessed stimulus steps taken by the European Central Bank last week, it said.
Hong Leong IB Research said after hitting year-to-date high of 1710 on March 7, the FBM KLCI staged a brief profit taking pullback to 1677 (still above 200-d SMA or 1674 levels), supported by firming oil prices and Ringgit coupled with news of policy accommodations from central banks and government.
“Key focus is FOMC meeting decision on March 17.
“Weekly resistance is 1710-1727 while supports fall on 1674-1685,” it said. – The Edge Markets, March 14, 2016.
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