Thursday, 26 April 2012

KLCI snaps losing streak in early trade

KUALA LUMPUR (April 26): The FBM KLCI snapped its losing streak in early trade on Thursday and advanced in line with the overnight gains at Wall Street and that of its regional peers.

At 9.01am, the FBM KLCI rose 2.55 points to 1,581.90, lifted by gains including at Gamuda, RHB Capital and Tenaga.

Gainers led losers by 68 to 30, while 72 counters traded unchanged. Volume was 31.2 million shares valued at RM14.16 million.

Asian shares gained on Thursday, retaining positive momentum as the Federal Reserve reassured markets that it will keep its very accommodative stance to support growth, and optimism grew over strong corporate earnings after Apple Inc's robust results, according to Reuters.

Fed Chairman Ben Bernanke on Wednesday said US monetary policy was "more or less in the right place" even though the central bank would not hesitate to launch another round of bond purchases if the economy were to weaken, it said.

Among the gainers on Bursa Malaysia in early trade were Berjaya Corp warrants, Top Glove, Tradewinds, Gamuda, RHB Capital, Tenaga, Maxis and DiGi.

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