FBM KLCI comes off morning highs


KUALA LUMPUR: Investors took some revenue out of the market following the speedy advance earlier within the day though commodities counters continued to present the FBM KLCI a wholesome lead.

At 12.30pm, the benchmark index was up 7.51 factors to 1,599.23, off the intra-morning excessive of 1,613.49.

Petronas Chemicals, which is seeing stellar positive factors, retraced barely to enter the lunch break 31 sen to larger at RM9.60.

Press Metal additionally stepped again from earlier highs, dropping three sen to RM6.72.

In the plantations sector, Kuala Lumpur Kepong climbed 58 sen to RM26.06 whereas Sime Darby Plantation added two sen to RM4.80 and IOI fell one sne ot RM4.59.

Bank counters have been largely larger with Public Bank rising 4 sen to RM4.41, CIMB including three sen to RM5.70 and Hong Leong Bank leaping 16 sen to RM20.02.

Maybank fell two sen to RM8.86.

Among prime actives, Hibiscus Petroleum, seen as a proxy for oil costs, misplaced three sen to RM1.0 regardless of the continued advance in Brent crude futures.

The worldwide benchmark for crude was up 5.15% to US$103.08 a barrel on the time of writing.

Meanwhile, most main Asian markets in the meantime tracked US inventory futures decrease as anxieties mounted over the result of diplomatic efforts between Russia and Ukraine.

Japan’s Nikkei dropped 0.3%, South Korea’ Kospi rose 0.1% and China’s composite index dropped 0.1%.

In Hong Kong, the Hang Seng fell 1.4% whereas Australia’s ASX200 rose 0.55%.

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