FBM KLCI turns cautious after recent rally

  • Markets
  • Monday, 04 Apr 2022

KUALA LUMPUR: The FBM KLCI pared losses going into midday as optimism over the recent reopening of the coutry's borders failed to offset caution over talk of more sanctions against Russia.

At 12.30pm, the benchmark index was down 3.9 points to 1,598.51 after having lost over seven points in earlier trading.

Western nations said over the weekend they could impose more sanctions on Russia following Ukraine's allegations that the invading force had committed war crimes near Kyiv.

Bursa Malaysia, which had been bolstered in recent weeks over rising crude oil prices and the country's transition to the endemic phase of Covid-19, saw profit-taking amid the renewed uncertainty.

The financial services sector, which had been on a tear of late, led declines.

Public Bank fell six sen to RM4.72, Maybank slid one sen to RM8.97, CIMB shed three sen to RM5.30 and Hong Leong Bank lost 10 sen to RM6.12.

Plantation counters meanwhile jumped higher with Kuala Lumpur Kepong gaining 48 sen to RM25.78 and Sime Darby Plantation climbing 12 sen to RM5.07.

Among top actives, Metronic rose 0.5 sen to 2.5 sen, Pappajack climbed 4.5 sen to 44 sen and VC added two sen to 12 sen.

In major Asian markets, Japan's Nikkei added 0.1%, South Korea's Kospi rose 0.3% and China's composite index gained 0.9%.

Hong Kong's Hang Seng climbed 1.2% while Australia's ASX200 put on 0.35%.

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Bursa Malaysia , FBM KLCI , equities


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