KLCI takes pause as investors digest recent gains

KUALA LUMPUR: The FBM KLCI ended unchanged from the previous session close after an early-morning rally as investors took some profit while awaiting new trading leads.

The key index was up 0.48 points at midday to 1,608.07 after having risen over seven points earlier in the day.

"We maintain our positive tone on the local bourse as investors will continue to pin their expectations over the economic recovery following the recent batch of coporate earnings that appears to have bottomed out," said Malacca Securities Research.

Public Bank, whose earnings were announced after the end of trading on Friday, pulled back 52 sen to RM18.08 as the worst-performing heavyweight on the FBM KLCI.

CIMB, which also reported underwhelming results, lost 10 sen to RM3.73.

Meanwhile Hong Leong Bank jumped 92 sne to RM17.94 and Maybank was up one sen to RM8.30.

Glove counters meanwhile bounced higher with Top Glove rising four sen to RM7.03 and Hartalega added six sen to RM14.54.

In the oil and gas sector, Petronas Gas was up 36 sen to RM17.08 while Petronas Chemicals dropped four sen to RM6.82.

Among the most active counters of the day, AT Sytemization was unchanged at 20 sen, Sapura Energy added 0.5 sen to 12 sen and Kanger was flat at 18.5 sen.

Meanwhile, regional markets digested their recent gains as investors awaited more clarity on the roll-out of the Covid-19 vaccines.

Japan's Nikkei dropped 0.6% while China's composite index rose 1.1% and Hong Kong's Hang Seng slid 0.5%.

In Australia, the ASX200 was down 0.8%.

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Bursa Malaysia , FBM KLCI , equities


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