FBM KLCI remains on a slide while region picks up on China's easing lockdown


KUALA LUMPUR: The FBM KLC remained in the red even as the regional sentiment improved on hopes China will ease up on its lockdown measures to spur economic growth.

Ar 12.30pm, Malaysia's key index was down 9.21 points to 1,472.59 as foreign investors have been cashing in the post=GE 15 rally that saw the appointment of the country's new Prime Minister.

The overall market was positive with 457 gainers compared with 425 decliners, indicating that buying has turned towards the lower liners.

Trading volume was 2.31 billion shares valued at RM987.72mil.

Over the weekend, more Chinese cities announced it would be dialling back on Covid curbs as Beijing opted for a more targeted approach to combatting the pandemic.

China's composite index jumped 1.6% to 3,205 while Hong Kong's Hang Seng surged 3.5% to 19,320.

Japan's Nikkei was up 0.1% to 27,793, South Korea's Kospi fell 0.65% to 2,418 and Australia's ASX200 rose 0.5% to 7,338.

On Malaysia's blue-chip index, Tenaga Nasional slumped 25 sne to RM9.13 while Digi fell 10 sen to RM3.89.

Sime Darby Plantation dropped nine sen to RM4.41 and PETRONAS Gas shed 18 sen to RM16.74.

Comintel, which resumed trading today following the completion of its regularisation plan, surged over three times to 39 sen.

Top actives were MQ Tech up two sen to 7.5 sne, Borneo Oil unchanged at two sen and SMTrack rising one sen to 7.5 sen.

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