Profit-taking in blue chips sends FBM KLCI lower

KUALA LUMPUR: The FBM KLCI was slightly lower at midday as investors took profit on the recent rally in Malaysian blue-chips.

At 12.30pm, the benchmark index was down 2.52 points to 1,596.4, although the broader market was positive with 514 gainers compared with 322 decliners.

Asian markets however were positive, tracking the tech-driven rally on Wall Street overnight.

Hong Kong's Hang Seng surged 2.1% on the back of the tech rally and news that China was contemplating removing a key audit barrier on US-listed Chinese companies to keep them from being delisted.

Japan's Nikkei was up 0.1%, South Korea's Kospi was down 0.1% and China's composite index rose 0.1%.

In Australia, the ASX200 was up 0.2%.

On Bursa Malaysia, tech counters were up led by MPI rising 56 sen to RM37.08, Vitrox gaining 19 sen to RM8.29 and D&O climbing 19 sen to RM4.70

In financial services, Maybank was down seven sen to RM8.89, Public Bank slipped two sen to RM4.70, CIMB lost two sen to RM5.28 and Hong Leong Bank was flat at RM20.20.

Nestle lost RM2.30 to RRM134.70 while Digi shed nine sen to RM3.88 and Axiata dropped three sen to RM3.76.

Kuala Lumpur Kepong was up 24 sen to RM26.10 while Sime Darby Plantation climbed 10 sen to RM5.18.

On the actives list, KNM rose 0.5 sen to 19 sen, Technax was flat at eight sen and Dataprep gained four sen to 34 sen.