Bank stocks stay positive amid negative market breadth


KUALA LUMPUR: The FBM KLCI clawed its way back into positive territory on the strength of financial heavyweights after spending the mid-morning in the red.

At 12.30pm, the key index was up 1.2 points to 1,607.12. However, market breadth was negative with 527 decliners versus 488 gainers.

Public Bank led the market higher with a five sen increase to RM4.28. CIMB rose seven sen to RM5.37 while Hong Leong Bank and Maybank stayed flat.

Petronas Chemicals was also up four sen to RM8.79.

Decliners were led by Press Metal retreating three sen to RM6.07 and IHH Healthcare sliding six sen to RM6.60.

Meanwhile, top actives were Daya up 0.5 sne to two sen, M3Tech flat at six sen and Macpie unchanged at 13 sen.

In regional markets, technology stocks led a rebound after disappointing Chinese economic data dampened investor sentiment.

Japan's Nikkei rose 0.3% and South Korea's Kospi dropped 0.1%.

China's main market retraced its losses from earlier in the day while Hong Kong's Hang Seng gained 1.3%.

Australia's ASX200 rose 0.6%.
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Bursa Malaysia , FBM KLCI , equities

   

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