FBM KLCI rally slows as regional markets flip damaging

KUALA LUMPUR: The FBM KCLI entered noon with a slight lead however was unable to make a lot headway previous the 1,600-point psychological stage.

At 12.30pm, the benchmark index was up 1.94 factors to 1,600.91, according to most regional markets as buyers took pause after a robust rally earlier within the week.

Financial institution counters have been subdued though CIMB rallied seven sen to RM5.34.

Press Steel jumped 12 sen to RM6.26, Sime Darby Plantation rose six sen to RM5.11 and Kuala Lumpur Kepong gained six sen to RM25.52.

Tech counters continued to recuperate with MPI gaining RM1.70 to RM39.28, D&O rising eight sen to RM4.78 and Greatech climbing 13 sen to RM4.84.

DNeX was the highest energetic counter, up one sen to RM1.05 whereas AHB dropped 0.5 sen to 16 sen and Sapura Power was flat at three sen.

In the meantime, main Asian markets turned damaging as buyers continued to digest the hawkish US financial coverage, shifts in Chinese language coverage and value volatility in commodity markets owing to the Ukraine battle.

Japan’s Nikkei dropped 0.3%, South Korea’s Kospi was flat whereas China’s composite index fell 0.5%.

Hong Kong’s Hold Seng slid 1.6% as buyers took money out of a current rally forward of extra company earnings to be revealed.

Australia’s ASX200 was up 0.3%.


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