KUALA LUMPUR: Malaysia's blue-chip stock index rose on Thursday even as uncertainty stalked global markets as the Jackson Hole symposium is set to begin tonight.
Wall Street saw a second day of selling yesterday ahead of the three-day summit, which would shed some light on policy direction by the world's leading central bankers.
The FBM KLCI, however, rose 4.41 points to 1,592.62 at midday, with corporate earnings and other domestic developments driving buying interest.
PETRONAS Chemicals, in particular, surged ahead 52 sen to RM4.70 on new that South Korea's petrochemical producers will cut capacity to bolster a weak market.
Investors on Bursa Malaysia bought up nine sectors, especially banks and utilities, although declining issues on the market outnumbered advancing 457 to 420.
Trading volume was 1.54 billion shares changing hands at RM1.31bil.
Stocks that saw notable gains included Kuala Lumpur Kepong rising 26 sen to RM19.46 while PETRONAS Gas climbed 24 sen to RM18.98.
Of actives, Green Packet was up 0.5 sen to 4.5 sen, Tanco added one sen to 74 sen and Lotte Chemical Titan gained four sen to 60.5 sen.
In regional markets, China's composite index was up 0.35% to 3,779, and the CSI 300 rose 0.71% to 4,301.
Hong Kong's Hang Seng dipped 0.1% to 25,140.
Japan's Nikkei slid 0.65% to 42,605 and Suth Korea's Kospi jumped 0.78% to 3,154.
