KUALA LUMPUR (Aug 17): The FBM KLCI rose 6.54 points or 0.37% as world markets cheered the planned China-US trade talks this month. In Malaysia, a dealer's representative said the KLCI had also risen possibly on bargain hunting.
At 12:30pm, the KLCI settled at 1,783.81 points. Frank Lin, a dealer's representative at Hong Leong Investment Bank Bhd, told theedgemarkets.com that the positive performance is possibly due to bargain hunting.
"It's time for the KLCI to rebound a little bit. Our market should roughly be at 1,800 points, which we had reached last week," said Lin.
In a suit filed in 2016 and made public Wednesday, a former Pratt & Whitney engineer accused the company of manipulating product tests to cover up ineffective assembly processes for engines that went in F-15, F-16 and F-22 fighter planes.