Published: Monday July 16, 2012 MYT 9:09:00 AM
Updated: Monday July 16, 2012 MYT 9:11:12 AM
KLCI advances, concerns of hard landing in China eases
KUALA LUMPUR: The Malaysian stock market started the new week on a firmer note on Monday, lifted by gains in KL Kepong, while small capitalised stocks were among the top gainers.
Asian markets rose as the positive sentiment was underpinned by expectations that concerns about an economic hard landing in China had subsided.
Reuters reported that last week's softer growth data within expectations and China's Premier Wen Jiabao on Sunday raising the prospects of more policy stimulus if needed.
At 9.09am, the FBM KLCI was up 2.36 points to 1,628.74. Turnover was 60.60 million shares valued at RM25.72mil. There were 162 gainers, 40 losers and 125 counters unchanged.
Wing Tai Malaysia and Wida added eight sen each to RM1.96 and RM1.40 while WCT and MBMR gained five sen each to RM2.49 and RM4.79.