FBM KLCI remains range-bound ahead of inflation data, corporate results

KUALA LUMPUR: The FBM KLCI remained positive at midday, albeit slightly as investors stayed within a range-bound trading channel ahead of corporate earnings results and inflation day later this week.

At 12.30pm, the key index was up 2.31 points to 1,551.43. The overall market turned negative with 350 gainers compared with 480 gainers.

Press Metal was up five sen to RM5.31, MISC rose eight sen to RM7.73, Axiata added three sen to RM3.25.

In banks, Public Bank climbed three sen to RM4.55, Maybank gained two sen to RM8.98 while Hong Leong Bank slid six sen to RM21.02.

Top actives on the market were Sapura Energy down two sen to nine sen, Serba Dinamik falling 2.5 sen to 11 sen and KNM dropping 0.5 sen to 19.5 sen.

Meanwhile, Asian markets slid as the negative sentiment over inflation and rising interest rates continues.

Japan's Nikkei rose 0.7%, South Korea's Kospi gained 0.1% and China's composite index shed 0.5%.

Hong Kong's Hang Seng slid 1.9% as the sell-off in technological stocks continued while Australia's ASX200 was flat.

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Bursa Malaysia , FBM KLCI , equities


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