KUALA LUMPUR: After a adverse begin, the FBM KLCI bounced greater to enter the lunch break 6.36 factors greater at 1,593.72.
The home market’s efficiency defied the efficiency of main Asian markets, which turned decrease in keeping with the pullback on Wall Street in a single day.
Hanging overhead was the rising uncertainty over developments within the Ukraine-Russia conflict and expectations of a provide crunch in Europe’s oil markets.
Leading the rally, Malaysian banks have been buoyed by the prospects a recovering financial system as the nation’s borders reopened for journey.
Public Bank jumped eight sen to RM4.76 and Hong Leong Bank rose 20 sen to RM20.40 whereas Maybank was unchanged at R8.94 and CIMB dipped one sen ot RM5.32.
In oil counters, Petronas Chemicals gained 4 sen to RM9.64 and Petronas Gas rallied six sen to RM16.72.
Meanwhile, plantation performs Kuala Lumpur Kepong gained eight sen to RM25.28, IOI added one sen to RM4.13 and Sime Darby Plantation
rose two sen to RM4.99.
On the ACE Market, licensed pawnbroker Pappajack made its debut at 39 sen, which was 9 sen greater than its situation worth.
At noon, the inventory, which was the morning’s most closely traded at 152.86 million shares, had eased to 38 sen a share, representing a 26.66% premium over the reference worth.
Other high actives included Metronic up 0.5 sen to 2.5 sen and VC rising 1.5 sen to 10 sen.
In main Asian markets, Japan’s Nikkei fell 0.4%, South Korea’s Kospi slid 0.7% and China’s composite index rose 0.6%.
Hong Kong’s Hang Seng was down 0.7% whereas Australia’s ASX200 rose 0.1%.
