At midday, the KLCI was up 9.47 points or 0.59% to 1,612.79. Turnover was 799.25 million shares valued at RM877.09mil. Advancers beat decliners 447 to 255 while 258 counters were unchanged.
The ringgit was firmer against most major currencies. It was at 4.4408 to the US dollar at midday from 4.4570 yesterday while it was at 6.7355 to pound sterling from 6.7721 and at 3.1177 to Singapore dollar from 3.1201.
Reuters reported stocks in China and Hong Kong rebounded on Wednesday morning, as auto shares surged on government support measures, fanning hopes that Beijing will unveil further steps to prop up other struggling sectors.
China's blue-chip CSI300 index rose 0.9%, to 3,208.85 by midday, while the Shanghai Composite Index gained 0.7%, to 3,059.36.
At Bursa Malaysia, CPO for third month delivery eased slightly after the strong run-up, shedding RM33 to RM2,418.
FGV was the second most active, rising 10 sen to RM1.53. KL Kepong tose 36 sen to RM21.72 while Sime Darby and IOI Corp gained 15 sen each to RM7.64 and RM4.06 while PPB Group added 10 sen to RM15.30.
Consumer stocks were mostly higher, with BAT adding 60 sen to RM60.54, Nestle added 42 sen to RM72.44 and sugar refinery MSM gained 17 sen to RM4.91. Ajinomoto gained 15 sen to RM6.35 but Dutch Lady lost RM1.02 to RM46.08.
US light crude oil fell 43 cents to US$44.80 and Brent was down 35 cents to US$47.88. Petronas Gas added six sen to RM21.94 while Petronas Chemicals and Petronas Dagangan inched up four sen each to RM6.14 and RM21.84. SapuraKencana gained two sen to RM1.87.
Among the banks, Hong Leong Bank rose eight sen to RM13.14, Maybank six sen to RM8.45, AmBank three sen to RM4.58, Public Bank was flat at RM17.42, CIMB fell seven sen to RM4.46 and RHB Cap two sen to RM5.86.
MISC added 14 sen to RM8.65, UMW eight sen to RM7.51 and Tenaga four sen higher at RM6.73. MAHB fell 13 sen to RM5.08.
Among the key regional markets,
Japan’s Nikkei 225 rebounded 2.54% to 17,360.52;
Hong Kong’s Hang Seng Index rose 1.42% to 20,848.44;
CSI 300 added 0.94% to 3,208,85;
Shanghai’s Composite Index added 0.7% to 3,059.36;
Shenzen Composite inche dup 0.17% to 1,714.63;
Hang Seng China Enterprise rebounded 2.46% to 9,457.90;
Taiwan’s Taiex inched up 0.11% to 8,141.41;
South Korea’s Kospi added 0.5% to 1,953.15 and
Singapore’s Straits Times Index fell 0.26% to 2,780.59.
Spot gold shed US$1.39 to US$1,126.04.
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