FBM KLCI edges up as Asian markets trend higher

The FBM KLCI rose marginally higher at mid-morning on Friday, July in line with the slightly firmer overnight close at Wall Street.

According to Reuters, asian stocks rose to a one-month high on Friday as investors hoped for a strong US jobs report that may signal the economy is pulling out of a soft patch, while the euro held on to much of its overnight gains after the European Central Bank raised interest rates.

Risky assets have been on a tear since last week as fears of an imminent Greek debt default ebbed and as encouraging US data strengthened views that the world's largest economy was turning around after a patchy first half.

The FBM KLCI rose 1.84 points to 1,592.08 at 10am, with gains including at KLK, MISC, Petronas Dagangan and Genting.

Gainers led losers by 210 to 170, while 196 counters traded unchanged. Volume was 175.73 million shares valued at RM214.47 million.

As for the regional markets, Hong Kong’s Hang Seng Index rose 1.30% 22,823.48, Japan’s Nikkei 225 added 0.98% to 10,170.34, Singapore’s Straits Times Index gained 0.72% to 3,148.24, Taiwan’s Taiex up 0.45% to 8,812.53, the Shanghai Composite Index added 0.29% to 2,802.35 while South Korea’s edged up 0.11% to 2,183.07.