FBM KLCI turns cautious after latest rally

KUALA LUMPUR: The FBM KLCI pared losses going into noon as optimism over the latest reopening of the coutry’s borders did not offset warning over discuss of extra sanctions towards Russia.

At 12.30pm, the benchmark index was down 3.9 factors to 1,598.51 after having misplaced over seven factors in earlier buying and selling.

Western nations stated over the weekend they may impose extra sanctions on Russia following Ukraine’s sanctions that the invading drive had dedicated conflict crimes close to Kyiv.

Bursa Malaysia, which had been bolstered in latest weeks over rising crude oil costs and the nation’s transition to the endemic part of Covid-19, noticed profit-taking amid the renewed uncertainty.

The monetary companies sector, which had been on a tear of late, led declines.

Public Financial institution fell six sen to RM4.72, Maybank slid one sen to RM8.97, CIMB shed three sen to RM5.30 and Hong Leong Financial institution misplaced 10 sen to RM6.12.

Plantation counters in the meantime jumped greater with Kuala Lumpur Kepong gaining 48 sen to RM25.78 and Sime Darby Plantation climbing 12 sen to RM5.07.

Amongst prime actives, Metronic rose 0.5 sen to 2.5 sen, Pappajack climbed 4.5 sen to 44 sen and VC added two sen to 12 sen.

In main Asian markets, Japan’s Nikkei added 0.1%, South Korea’s Kospi rose 0.3% and China’s composite index gained 0.9%.

Hong Kong’s Dangle Seng climbed 1.2% whereas Australia’s ASX200 placed on 0.35%.


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