FBM KLCI creeps higher as trading stays cautious

KUALA LUMPUR: The FBM KLCI edged slightly higher as it entered midday although most counters on Bursa Malaysia remained in the red amid ongoing investor caution.

At 12.30pm, the country's benchmark index was up 1.04 points to 1,585.24. Over the broader market, there were 571 decliners versus 351 gainers, suggesting continued profit-taking activity.

IHH Healthcare helped to shore up the blue-chip index as it rose nine sen to RM6.64.

Financial counters were also positive, led by Maybank rising four sen to RM8.16, Public Bank adding one sen to RM4.24, CIMB gaining five sen to RM5.30 and Hong Leong Bank erasing earlier losses to rise two sen to RM18.88.

Investors also stayed positive on Petronas counters, lifting Petronas Chemicals one sen to RM8.79 and Petronas Gas two sen to RM16.96 while Petronas Dagangan climbed 48 sen to RM20.52.

A fall in Press Metal by eight sen to RM5.68 offset some index gains while Sime Darby Plantation also dropped five sen to RM4.15.

Elsewhere, MPI forged ahead with an 82 sen jump to RM46.32.

Top actively traded stocks were VC down 1.5 sen to 8.5 sen, KNM rising 1.5 sen to 20 sen and SCIB plunging 11.5 sen to 29 sen on news over missing its annual report deadline.

In Asian markets, equities prices were mostly lower despite the positive Wall Street performance overnight.

Investors were spooked as tensions surfaced between Washington and Beijing after the US licence of one of the China's biggest telecom firms was revoked due to national security concerns.

The prospects of further geopolitical turmoil sparked selling in China, resuling in the country's main index falling 0.9% while in Hong Kong, the Hang Seng dropped 1.5%.

Japan's Nikkei fell 0.6% and South Korea's Kospi slid 0.9%. Australia's ASX200 was flat as the market approached the closing bell.
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Bursa Malaysia , FBM KLCI , equities


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