KUALA LUMPUR: Key Asian markets and the FBM KLCI advanced in early Monday trade as investors heaved a sign of relief on hopes the US Federal Reserve would not be raising interest rates this year after the weak US jobs data.
At 9.15am, the KLCI was up 11.17 points or 0.69% to 1,639.97. Turnover was 156.56 million shares valued at RM156.56mil. There were 229 gainers, 79 losers and 149 counters unchanged.
Bloomberg reported the disappointing US payrolls data has triggered a return to form for financial markets, with the prospect of American interest-rate increases being pushed out until next year bolstering shares to industrial metals, while the dollar retreats against its higher-yielding peers.
Asian stocks tracked Friday's surge in the US, with a gauge of regional equities rising a fourth day for their longest rally since July, said the report.
At Bursa Malaysia, Petronas Gas was the top gainer, up 38 sen to RM22.42 in relatively thin trade.
MISC recovered from last Friday’s profit taking to add 15 sen to RM8.82 while Axiata and Tenaga Nasional gained 10 sen each to RM5.90 and RM12.16.
KL Kepong added 10 sen to RM22.60 but IJM Plantations lost nine sen to RM3.21 and SOP shed six sen to RM4.64.
HLFG was the top loser, down 12 sen to RM13.94. Profit taking saw SAM Engineering shedding four sen to RM6.
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