KUALA LUMPUR: The FBM KLCI sustained its rebound over the morning session because the central financial institution introduced better-than-expected financial progress within the first quarter of 2022.

At 12.30pm, the important thing index was up 11.42 factors to 1,550.22 as shares partially reclaimed heavy losses from the earlier session. The total market was optimistic with 400 gainers in contrast with 209 decliners.

In a noon announcement, Bank Negara mentioned the nation’s gross home product expanded 5% year-on-year, which exceeded most analyst predictions.

Stocks that recorded sturdy leads within the earlier a part of the day held on to good points, together with Press Metal, which jumped 36 sen to RM5.16 after latest promoting stress.

Petronas Chemicals gained 11 sen to RM9.98, Sime Darby Plantation rose 20 sen to RM5.10 and IOI added 12 sen to RM4.33.

Banks nevertheless remained within the pink regardless of the optimistic financial information. Maybank dropped six sen to RM9.01 and Public Bank fell 4 sen to RM4.59. CIMB was up one sen to RM5.06 whereas Hong Leong Bank gained 4 sen to RM20.68.

Among prime actives for the day, MNC was up one sen to a few sen, Serba Dinamik gained 0.5 sen to 9 sen and Technax was down 0.5 sen to 11 sen.

Meanwhile, main Asian markets have been seen trimming their losses after a risky week, which noticed traders dumping equities amid fears over excessive inflation and rising rates of interest.

Japan’s Nikkei jumped 2.4%, South Korea’s Kospi rose 1.7% and China’s composite index added 0.6%.

Hong Kong’s Hang Seng in the meantime climbed 2% whereas Australia’s ASX200 was up 1.7%.