FBM KLCI gains 0.56% on better sentiment following US Fed stance

FBM KLCI gains 0.56% on better sentiment following US Fed stance
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KUALA LUMPUR (July 15): The FBM KLCI gained 8.5 points, or 0.56%, to close at 1,520.82 today.

Leading the charge in terms of the index’s constituents were Top Glove Corp Bhd, Hartalega Holdings Bhd and Mr DIY Group (M) Bhd. Conversely, the top decliners among the component stocks are Sime Darby Plantation Bhd, Petronas Dagangan Bhd and MISC Bhd.

On the broader market, market breadth was positive with 611 counters posting gains, versus the 348 counters that posted declines and 500 counters that went unchanged.

The top actives today were Serba Dinamik Holdings Bhd, Careplus Group Bhd and LKL International Bhd. The trading day’s top value gainers were Hartalega Holdings Bhd, KESM Industries Bhd and Adventa Bhd. The top losers were Malaysian Pacific Industries Bhd, Kumpulan H&L High-Tech Bhd and Widetech (M) Bhd.

Elsewhere in the region, Hong Kong’s Hang Seng was 0.75% or 208.81 points higher at 29,996.27. The Shanghai Composite climbed 1.02% or 36.09 points to 3,654.59. However, the Nikkei 225 lost 1.15% or 329.4 points at 28,729.09, while the Straits Times Index across the causeway was 0.48% or 15.08 points lower at 3,138.07.

Rakuten Trade Research head of equity sales Vincent Lau noted that better sentiment was due to comments by the US Federal Reserve.

According to Reuters, Asian shares advanced today as dovish comments by the US Federal Reserve chief and fresh liquidity from China’s central bank propped up investor appetite, even as inflationary and growth risks hung over the outlook.

Kathy Fong