Range-bound trading as investors await economic data


KUALA LUMPUR: The FBM KLCI kept to a narrow trading band on Tuesday as investors await the release of US inflation data and the Federal Reserve's minutes from its last meeting.

At 12.30pm, the benchmark index was up 1.54 points to 1,429.67, after moving within a 4.24-point trading range.

There were 371 gainers compared with 346 decliners. Trading volume was 1.82 billion shares valued at RM854.94mil.

Asian markets rallied as market reopened from the Easter holiday as key central banks refrained from raising interest rates, despite expectations the US Fed will raise its own rate by another 25 basis points.

Japan's Nikkei rose 1.35% to 28,006, South Korea's gained 1.4% to 2,548 and China's composite index fell 0.4% to 3,303.

Hong Kong's stock exchange, which restarted after a four-day weekend, was marginally higher with the Hang Seng Index at 20,350.

Australia's ASX200 meanwhile gained 1.3% to 7,309.

Among notable gainers on Bursa, F&N rose 42 sen to RM26.04, Spritzer climbed 22 sen to RM11.94 and UWC was up 14 sne to RM3.55.

Most actively traded were Hong Seng up one sen to 12.5 sen, Barakah gaining one sen to six sen and Top Glove unchanged at RM1.15.

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