FBM KLCI sustains rally in anticipation of earnings results


KUALA LUMPUR: The FBM KLCI was positive at midday ahead of the peak results period and as investors regained some appetite for equities following a bounce in US markets.

At 12.30pm, the key index was up 6.16 points to 1,554.76. The overall market however was negative with 435 decliners compared with 374 gainers.

Topping the gainers, IHH Healthcare rose 17 sen to RM6.60 while Public Bank gained four sen to RM4.57.

Press Metal slid 15 sen to RM5.23 and Axiata declined eight sen to RM3.26.

Among active stocks, Technax fell 2.5 sen to 5.5 sen, Sapura Energy was unchanged at 7.5 sen and Serba Dinamik slipped one sen to 15.5 sen.

In Asian markets, equities faltered as fears over inflation and higher interest rates prevented prices from further recovery.

Nikkei rose 0.6% to 26,820, South Korea's Kospi was flat at 2,620 and China's composite index dropped 0.4% to 3,082.

Hong Kong's Hang Seng slumped 0.6% to 20,471 and Australia's ASX200 gained 1% to 7,180.

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Bursa Malaysia , FBM KLCI , equities

   

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