Consolidation persists as traders wait out uncertainty

KUALA LUMPUR: The FBM KLCI was barely increased at noon because the market continued its consolidation part amid a unstable international buying and selling panorama.

At 12.30pm, the benchmark index was up 3.91 factors to 1,604.70.

Investor sentiment has been bolstered by the reopening of the nation’s borders, which has helped shore up confidence in equities regardless of the prospect of aggressive financial tightening within the US.

Petronas Chemical substances was up 4 sen to RM10.22, Press Steel climbed 13 sen to RM6.25 and IHH rose 4 sen to RM6.45.

In Plantations, Sime Darby Plantation dropped one sne to RM5.24 and Kuala Lumpur Kepong slid six sen to RM26.68 whereas IOI Corp rose two sen to RM4.36.

In the meantime, shopper shares gained on the again of optimization over the retail scene.

Heineken rose 60 sen to RM23.60, Dutch Girl gained 40 sen to RM33 and F&N climbed 20 sen to RM21.48.

Prime actives have been Brahim’s plunging 7.5 sen to 4 sen, TWL rising 0.5 sen to eight.5 sen and Technax flat at 9.5 sen.

In the meantime, main Asian markets stayed principally flat following Wall Road’s gentle rebound in a single day.

Japan’s Nikkei, South Korea’s Kospi and China’s composite index every misplaced 0.1%.

Hong Kong’s Hold Seng slid 0.6% whereas Australia’s ASX200 gained 0.5%.


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