KLCI ticks up in early trade, index-linked glove makers lift

KUALA LUMPUR (Jan 21): The FBM KLCI ticked up in early trade against the backdrop of muted regional markets, lifted by gains including at index-linked glove makers.

At 9.05am, the FBM KLCI  gained 1.60 points to 1,590.48.

The early gainers included Carlsberg Brewery Malaysia Bhd, Dufu Technology Bhd, Top Glove Corp Bhd, Kossan Rubber Industries Bhd, Hartalega Holdings Bhd, Pentamaster Corp Bhd, Supermax Corp Bhd, MBM Resources Bhd, Muda Holdings Bhd and Johore Tin Bhd.

Bloombergreported Asian stocks drifted Tuesday in trading muted by yesterday’s U.S. holiday. Crude oil pared gains related to supply disruptions in Libya and Iraq.

Japanese shares and U.S. futures were little changed as investors awaited a fresh batch of corporate earnings and some key central bank meetings this week. Australian stocks dipped. The dollar pared earlier gains after France announced an agreement with the U.S. on a truce in their digital-tax dispute until at least the end of this year. Treasuries were flat, it said.

JF Apex Securities Research said US markets were closed for Martin Luther King Jr Day while European stocks declined slightly as the World Economic Forum kicked off in Switzerland and China kept its interest rate unchanged.

“On the local market, the FBM KLCI dropped 6.93 points to 1588.88 points.

“Following yesterday's decline, the FBM KLCI could continue to hover below the resistance of 1615 points,” it said.