FBM KLCI Swinged Higher at Mid Day, Following Cue from Wall Street

Bursa Malaysia ended Monday morning trading session in green with the benchmark index FBM KLCI climbing up 7.20 points or +0.49% at 1,487.75 as compared to last Friday’s close of 1,480.55. The index was lifted by buying interest on selected heavyweights and energy related stocks.

At 9:00 am, the index inched higher at 1,484.56.

During the morning trading session, the index was traded in the range of 1,483.93 – 1,489.59.

Last Friday, the Dow Jones Industrial Average surged 2.13% or 700 points, while the Nasdaq gained 2.56% or 264 points, as the market participants digested the inflation data in the US. It may be heading for a cooling off, hence a dovish stance by Federal Reserve on rate hikes.

Top five active counters for the morning session were CSH Alliance, Cypark Resources, Nylex Malaysia, Citaglobal, L&P Global.

Top five gainers were Hextar Technologies, Malaysian Pacific Industries, Ajinomoto Malaysia, Allianz Malaysia, Fraser & Neave.

Whilst top five decliners were Sunmow Holding, Chin Tek Plantations, Kotra Industries, Carlsberg Brewery Malaysia, Heineken Malaysia.

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