FBM KLCI rises on final day of dismal 2Q

KUALA LUMPUR: The FBM KLCI was higher at midday despite a regional slump in prices as markets headed for a disappointing end to a second quarter.

At 12.30pm, the key index was up 7.81 points higher at 1,459.29. There were 375 decliners compared to 303 gainers for a negative market breadth.

Trading volume was 1.11 billion shares valued at RM751.64mil.

On the final trading day of the first half of 2022, Asian markets were shaken by further affirmation from the US Federal Reserve that it will remain hawkish on interest rates until inflation levels normalise.

Japan's Nikkei dove 1.5% and South Korea's Kospi dropped 1%.

However, China's market was bullish composite index was data showed that factory activity increased in June.

China's composite index jumped 1.3% while Hong Kong's Hang Seng stayed mostly unchanged.

Australia's ASX200 meanwhile was down 0.75%.

Back home, financial services counters reversed earlier losses to enter a rally. Maybank was flat at RM8.65, Public Bank rose three sen to RM4.45, CIMB gained seven sen to RM5.03 and Hong Leong Bank added six sen to RM20.66.

Press Metal was the most improved on the blue-chip index, climbing 17 sen to RM4.82, while Petronas Chemicals picked up six sen to RM9.13.

Sime Darby Plantation rose seven sen to RM4.40 and Digi gained nine sen to RM3.51.

The market's leading actives however were in the red. Top Glove fell six sen to RM1.06, Cypark shed 3.5 sen to 34.5 sen and Reach was down 0.5 sen to five sen.

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Bursa Malaysia , FBM KLCI , equities


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