FBM KLCI in the green on bargain hunting

KUALA LUMPUR: The FBM KLCI rebounded on Tuesday, bucking the negative regional trend, amid fears that global interest rates will stay higher for longer.

At 5pm, the 30-stock index closed up 2.10 points, or 0.15% at 1,445.55, supported by the performance of select blue chip counters. The index hit an intraday high of 1,447.05.

Broad market sentiment, however, continued to be weak, with 564 losers outpacing 367 gainers and 451 counters which traded unchanged. Turnover was at 3.16 billion shares valued at RM1.95bil.

Dealers said the local bourse saw modest gains as bargain hunting activities emerged after the dip in the previous session.

Hextar Technologies surged RM1.20 to RM25.20, Rapid jumped 96 sen to RM24.80, UMW added 13 sen to RM4.90 and Kuala Lumpur Kepong climbed 12 sen to RM21.42.

Among the losers, Panasonic Manufacturing slid 32 sen to RM19.06, Nestle lost 20 sen to RM128.60, SAM Engineering fell 18 sen to RM4.52 and Knusford declined 10.5 sen to 70.5 sen.

ACE Market debutant Evergreen Max Cash Capital closed up 7.5 sen, or 31.25% to 31.5 sen with 285.15 million shares traded.

Meanwhile, regional markets closed lower. Hong Kong’s Hang Seng fell 1.46% to settle at 17,470.31, while China’s CSI 300 was down 0.6% to 3,692.89.

South Korea’s Kopsi also slid 1.31% to 2,462.97 and Japan’s Nikkei 225 fell 1.11% to 32,315.05.

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FBM KLCI , KLCI , Bursa Malaysia


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