FBM KLCI flat at midday, tech counters pace higher


KUALA LUMPUR: The FBM KLCI eked out a fraction of a point at midday break after spending most of the morning session in negative territory.

At 12.30pm, the key index was up 0.33 point to 1,493.33, buoyed by financial counters and Tenaga Nasional.

The banks cautiously moved higher following recent losses, with Maybank rising one sen to RM8, Public Bank gaining one sen to RM3.98, CIMB adding five sen to RM4.52 and Hong Leong Bank climbing eight sen to RM18.10.

Tenaga meanwhile was up seven sen to RM9.70.

At this stage, it remains unclear if the FBM KLCI will return to the red after three straight days of losses although semiconductor stocks have been showing some positive momentum.

"As selected technology stocks have released stellar results recently, they may continue with their uptrend move respectively and could spill over to the rest of the technnology sector including EMS players," said Malacca Securities Research.

Leading gainers on the market today include tech counters Genetec up 94 sen to RM23.70, Vitrox rising 34 sen to RM19.96, Unisem gaining 25 sen to RM8.85 and Greatech climbing 17 sen to RM6.80.

Of actives, Serba Dinamik rose 4.5 sen to 42.5 sen, Permaju added one sen to 10 sen and Emico gained four sen to 34.5 sen.

Elsewhere in Asia, major markets were put on the defensive by the spread of the Delta variant of the Covid virus.

Japan's Nikkei dropped 0.9% while South Korea's Kospi approached its final hours of trading on a flattish note.

China's composite index was also flat although Hong Kong's Hang Seng dropped 1%.

Australia's ASX200 was down 0.4%.
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Bursa Malaysia , FBM KLCI , equities

   

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