FBM KLCI retraces lower on profit-taking

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KUALA LUMPUR: The FBM KLCI retraced most of it earlier positive factors to finish almost flat at noon.

At 12.30pm, the important thing index was 0.45 level greater at 1,437.97, after having risen to as excessive as 1,444.67 within the morning session.

The market breadth was unfavorable with 370 decliners in contrast with 299 gainers.

Trading quantity remained tepid with 1.17 billion shares exchanging fingers for a worth of RM561.97mil.

In monetary providers, Maybank was up two sen to RM8.62, Public Bank rose one sen to RM4.40, CIMB gained two sen to RM5.05 and Hong Leong Bank was unchanged at RM20.48.

Press Metal climbed 5 sen to RM4.67.

Plantation shares succumbed to profit-taking after an earlier lead with Kuala Lumpur Kepong sliding 54 sen to RM21.74 and Sime Darby Plantation unchanged at RM4.28.

Among high actives, new market entrant Orgabio was up 4 sen to 35 sen, Reach was flat at 5 sen and Widad was unchanged at 36.5 sen.

In Asian markets, shares moved greater on constructive financial information and hints that Sino-US tensions had been easing.

Japan’s Nikkei rose 0.7%, South Korea’s Kospi gained 1.1%, whereas China’s composite index slid 0.2%.

Hong Kong’s Hang Seng rose 0.6% and Australia’s ASX200 gained 0.4%.



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