Market Open KLCI extends gains in early trade as regional markets glide higher

by **Cals** Wed 30 Dec 2015, 17:56

Market Open

[size=28]KLCI extends gains in early trade as regional markets glide higher

By Surin Murugiah / theedgemarkets.com | December 30, 2015 : 9:19 AM MYT

KUALA LUMPUR (Dec 30): The FBM KLCI extends its gains in early trade on the penultimate trading day of 2015, as regional markets glided higher.

At 9am, the FBM KLCI rose 1.59 poins to 1,686.95.

The top gainers included Guiness Anchor Bhd ([You must be registered and logged in to see this image.] Valuation: 2.10, Fundamental: 2.30), SAM Engineering & Equipment Bhd,Lafarge Malaysia Bhd ( Valuation: 1.10, Fundamental: 1.80), C.I. Holdings Bhd ( Valuation: 0.20, Fundamental: 2.10), My E.g. Services Bhd ( Valuation: 1.10, Fundamental: 2.30), Petron Malaysia Refining & Marketing Bhd, UEM Edgenta Bhd ( Valuation: 2.10, Fundamental: 2.50), Malaysia Airports Holdings Bhd ( Valuation: 1.40, Fundamental: 0.80) andSapuraKencana Petroleum Bhd ( Valuation: 1.40, Fundamental: 0.65).

Asian shares glided higher in early trading on Wednesday, taking their cues from overseas gains, although investors are cautiously watching to see whether renewed selling in crude oil futures will dent sentiment, according to Reuters.

"After a strong U.S. and European session, Asian markets are all looking for further gains today," Angus Nicholson, market analyst at IG in Melbourne, said in a note to clients, it said.

JF Apex Securities Research in a market preview today said US markets rallied overnight following gains in tech stocks, oil and commodities prices.

Similarly, it said European equities advanced following rebound in oil and commodities.

“On the local market, the FBM KLCI surged 14.63 points to 1685.36 points.

“Due to the recent bullish momentum and year-end window dressing, the index is expected to be positive and climb towards the psychological barrier of 1700 points,” it said.
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