Bursa retreats on profit-taking at midday

KUALA LUMPUR: Bursa Malaysia was subdued on Friday following the previous day's strong gains as investors await more clues as to whether the US Federal Reserve is done with rate hikes.

At 12.30pm, the benchmark FBM KLCI was down 0.25 points to 1,452.49 with the broader market registering 466 decliners to 334 gainers.

There were 1.92 billion shares traded for a value of RM1.06bil.

The leading decliners on the blue-chip index were CelcomDigi sliding 10 sen to RM4.24, PETRONAS Chemicals down 13 sen to RM7.09 and Nestle falling RM4.20 to RM121.20.

CIMB, however, picked up 12 sen to RM5.77 on positive results released in the previous day.

Public Bank gained three sen to RM4.30 and Maybank was up three sen to RM9.01.

Hong Leong Bank was also on the rise after strong earnings, adding 14 sen to RM19.14, and Hong Leong Financial Group climbed 48 sen to RM16.58.

Leading the actives on the market were Velesto rising 0.5 sen to 22.5 sen, Reneuco up one sen to 20 sen and SCIB adding 0.5 sen to 77.5 sen.

In regional markets, Japan's NIkkei was flat at 33,498 and South Korea's Kospi was down 1.1% to 2,509.

China's composite index slipped 0.3% to 3,019 and Hong Kong's hang Seng shed 0.7% t0o 16,925.

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