Monday, 30 April 2012

KLCI inches higher in early trade

KUALA LUMPUR (April 30): The FBM KLCI inched higher on Monday, in line with the gains at most regional markets, lifted by select blue chips in early trade.

At 9am, the FBM KLCI was up 2.66 points to 1,570.46.

Gainers led losers by 66 to 27, while 82 counters traded unchanged. Volume was 15.14 million shares valued at RM6.98 million.

Asian shares inched higher on Monday as weaker-than-expected U.S. growth data left open the possibility for more monetary stimulus from the Federal Reserve, but trading will likely be subdued with Japanese and Chinese markets closed, according to Reuters.

Global stocks ended higher on Friday on strong earnings reports, while the dollar dipped as data showed growth in the U.S. economy cooled in the first quarter to a 2.2% annual growth rate, below a 2.5% forecast, feeding views that the Fed could ease policy further to boost growth, it said.

Among the early gainers on Bursa Malaysia on Monday were Petronas Dagangan, UMW, KLK, CM, Boustead, RHB Capital, OSK, Genting and Sime Darby.

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