KUALA LUMPUR: The FBM KLCI returned to the red following a brief mid-morning rally as investors digested Bank Negara’s recent overnight policy rate decision and the sharp sell-off in the previous session.
At 12.30pm, the country’s key index was down 3.67 points to 1,575.22 amid mixed results in the blue chips.
Top Glove rallied nine sen higher to RM3.49 amid news of the US Customs and Border Protection withdrawing its import ban on the glove maker.
Hartalega
was higher by one sen to RM6.43, as investors granted the stock some reprieve after recent selling.
In plantations, Kuala Lumpur Kepong pulled back 34 sen to RM20.96 while IOI was down three sen to RM3.89. Sime Darby Plantatation however rose four sen to RM3.95.
There were also mixed results in bank stocks as Maybank rose two sen to RM8.28 but Public Bank shed one sen to RM4.09 and Hong Leong Bank lost four sen to RM18.82. CIMB was unchanged at RM4.83.
On the broader market, most actively traded counters were KNM up 1.5 sne to 27.5 sen, Lambo down two sen to 8.5 sen and Impiana unchanged at 9.5 sen.
Meanwhile, Asian markets snapped two days of losses as regional investors have turned cautious amid anxieties over central bank decision to taper monetary stimulus.
Japan’s Nikkei was up 1% and South Korea’s Kospi rose 0.4%.
China benchmark index also crept 0.4% while Hong Kong’s Hang Seng jumped 1.65% following a slump in the previous session on the back of Beijing’s tightening of regulations on gaming and education shares.
Australia’s ASX200 rose 0.6%.
