KUALA LUMPUR: The local market rebounded along with other regional markets as the US faced mounting pressure from political allies to pull back from proposed steel and aluminium tariffs.
At 12.30pm, the FBM KLCI was 5.82 points higher at 1,848.44 points. Turnover was 1.51 billion shares worth RM1.26bil. There were 517 advancers versus 312 decliners and 379 counters unchanged.
In the spotlight on Tuesday, Press Metal
Aluminium retraced some losses after yesterday's slump, putting on 20 sen to RM5.17.
Leading the gains on the index, telco counter Maxis put on 15 sen to RM5.85.
Among banks, Maybank rose eight sen to RM10.50, Public Bank gained 10 sen to RM23 and Hong Leong Bank gained 10 sen to RM18.80.
CIMB weighed with a one sen slide to RM7.19 while RHB dropped two sen to RM5.38.
Plantation stocks icluded IOI, gaining three sen to RM6.06, KL Kepong adding two sen to RM25.42, and Sime Darby Plantation dropping three sen to RM5.49.
Nestle continued to gain, pulling RM3.60 higher to RM131.50.
Among decliners, Genting dropped six sen to RM8.88 while Genting Malaysia fell five sen to RM5.16.
On the broader market, Mida rose 2.5 sen to RM2.37, Scientex gained 22 sen to RM8.50 and Inari rose 17 sen to RM3.21.
Laggards included Dutch Lady, falling RM7.98 to RM60; LBI capital, dropping nine sen to RM1.16; and Shangri-La, down nine sen to RM4.79.
Oil prices rose again on Tuesday amid remarks made by Opec ministers that served to reinforce the agreement to reduce global supplies.
WTI crude rose 11 cents to US$62.68 a barrel and Brent crude added nine cents to US$65.63 a barrel.
In currencies, the ringgit continued to gain on the US dollar, strengthening 0.11% to 3.9023. It weakened 0.17% against the pound sterling at 5.4023 and was flat against the Singapore dollar at 2.9610.
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