FBM KLCI slightly higher in cautious trading

KUALA LUMPUR: The FBM KLCI hung on to positive territory at midday after rising at the opening bell but retracing most of its gains over the course of intra-morning trade.

The market found its footing on Thursday after sliding in the previous sesssion on the back of fresh political turmoil and a new record in daily Covid-19 infections.

According to Malacca Securities Research, the local bourse recorded a ninth straight day of foreign outflow on the back of the overall negative market sentiment.

At 12.30pm, the FBM KLCI was up 1.37 points to 1,492.7, still off the critical 1,500 psychological level.

Bank were seen edging higher with Maybank adding three sen to RM8.04, CIMB rising two sen to RM4.53 and Hong Leong Bank climbing four sen to RM18.22.

Meanwhile, consumer stocks also advanced, ledy higher by F&N's recent earnings results. The beverage maker gained 96 sen to RM25.40 while Nestle added RM1.40 to RM134.40 and Heineken Malaysia climbed 42 sen to RM22.40.

In the tech sector, Unisem was up 41 sen to RM9.10, KES gained 34 sen to RM13.38, Vitrox added 30 sen to RM19.80 and MPI rose 28 sen to RM45.38.

Of actives, VSolar gained 0.5 sen to 1.5 sen, Fintech added 0.5 sen to three sen and Saudee rose 0.5 sen to 9.5 sen.

In regional markets, anxiety over Chinese equities continues to ease, helping to retrace some of the negative sentiment in Asian markets.

Japan's Nikkei gained 0.45% while South Korea's Kospi stayed mostly flat.

China's main index was up 0.1% and Hong Kong's Hang Seng dipped 0.2%. Australia's ASX200 added 0.2%.
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Bursa Malaysia , FBM KLCI , equities


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