FBM KLCI rebounds slightly amid weak commodities outlook


KUALA LUMPUR: The home equities market remained simply mildly greater at noon, foiling hopes of a stronger rebound following yesterday’s sharp sell-off.

At 12.30pm, the FBM KLCI was up 2.22 factors to 1,423.07. The market was adverse total with 421 decliners in contrast with 257 gainers.

There had been 1.1 billion shares crossing palms for a price of RM638.56mil.

Sime Darby Plantation lifted the market because it bounced again 24 sen to RM4.07. Sector peer Kuala Lumpur Kepong additionally gained 62 sen to RM20.64.

However, the identical couldn’t be mentioned for IOI, which dropped one sen to RM3.75.

There was additionally little motion from the monetary companies sector to help the rally as most financial institution counters remained unchanged. Maybank slipped two sen to RM8.60 whereas RHB dropped 4 sen to RM5.68.

Meanwhile, PETRONAS Chemicals slid 27 sen to RM8.38 amid the weaker demand prospects within the oil and fuel sector.

On the broader market, high energetic counter Seng Fong was down 5.5 sen to 69.5 sen on its debut on the Main Market.

Jade Marvel dove 8.5 sen to 83 sen and Top Glove bounced six sen greater to RM1.

In main Asian markets, equities costs tracked the optimistic efficiency on Wall Street at the same time as sentiment remained capped by recession fears.

Japan’s Nikkei rose 1.2%, South Korea’s Kospi climbed 2% and China’s composite index gained 0.5%.

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

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