FBM KLCI rebounds from six-month lows


KUALA LUMPUR: The FBM KLCI rebounded from a six-month low to settle higher at midday, although the index remained firmly below the key 1,600 psychological level.

At 12.30pm, the benchmark index was up 7.27 points to 1,592.97, partially retracing the losses recorded in yesterday's sell-off.

The broader market also righted itself - with 429 gainers compared to 422 decliners - after tipping over into a sea of red in the previous session where stocks were overwhelmingly negative.

Turnover was 2.28 billion shares changing hands for RM1.26bil.

Investors' anxiety levels have surged in the lead-up to the first day of the Trump administration, with investors turning sour on equities.

Asian markets displayed mixed results on Tuesday with Japan's Nikkei plunging 2.16% to 38,340, while China's composite index bounced back on promise of new support from the securities regulator, rising 1.75% to 3,215.

Hong Kong's Hang Seng also climbed 1.41% to 19,141.

Singapore's Straits Times, meawhile, dipped 0.14% to 3,786.

On Bursa Malaysia, leading blue chips rallied including Nestle up 84 sen to RM93.34, Maybank jumping 20 sen to RM10.28 and QL Resources rising nine sen to RM4.60.

Of actives, EA Holding swas flat at 0.5 sen, Velocity rose 0.5 sen to 8.5 sen and Harvest Miracle added 1.5 sen to 20 sen.

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