Bursa joins Asian rally as US inflation shows signs of peaking


KUALA LUMPUR: The FBM KLCI was mildly larger at noon as the beginning of the US company earnings season helped to elevate the temper in international markets.

At 12.30, the benchmark index was up 3.94 factors to 1,601.12. The market breadth was cut up down the center with 404 gainers and decliners every.

Picking up on the rise in power costs, Petronas Chemicals was up 16 sen to RM10.42 and Press Metal

Bank shares have been blended with Hong Leong Bank choosing up 22 sne to RM20.80 and Public Bank gaining one sen to RM4.68 though CIMB slid 14 sen to RM5.15.

In the tech setor, shares misplaced earlier momentum and turned blended at noon. MPI rose 30 sen to RM32.84, D&O misplaced 11 sen to RM4.04 and Vitrox slid eight sen to RM7.61.

Among actives, KGroup was fats at one sen, Permaju rose 1.5 sen to 10 sen and and Sapura Energy

Meanwhile, Asian markets gained on hopes that the newest US inflation information confirmed value will increase could also be near peaking.

Japan’s Nikkei rose 1.2%, South Korea’s Kospi gained 0.1% and China’s composite index climbed 0.7%.

Hong Kong’s Hang Seng rose 0.4% whereas Australia’s ASX200 rallied 0.6%.

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