FBM KLCI consolidates above 1,500

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KUALA LUMPUR: The FBM KLCI remained range-bound above the 1,500 psychological support as uncertainty over the local Covid-19 situation and its impact on the national economy continued to cast a gloom over the investment landscape.


At 12.30pm, the key index was down 2.97 point to 1,516.59 as investors took some cash out of yesterday’s rebound.

Some leading decliners were Hong Leong Bank sliding 28 sen to RM18.22, Digi falling seven sen to RM4.19 and Petronas Chemicals dropping four sen to RM8.06.

Top Glove helped to offset some losses, rising five sen to RM3.82, amid bargain-hunting in glove stocks as the number of global coronavirus cases continued to trend higher.

Hartalega was similarly buoyed, jumping 37 sen to RM7.48.

On the broader market, tech counters rallied, led by MPI up RM2.62 to RM43.52, Vitrox gaining 36 sen to RM15.96, D&O climbing 22 sen to RM5.11, and Pentamaster rising 16 sen to RM5.34.


Of actives, Lambo was unchanged at one sen, Pasukhas down 4.5 sen to 28.5 sen and Serba Dinamik sliding 1.5 sen to 43 sen.

Speculation over the US Federal Reserve reining in stimulus measures remained rife as data showed the country’s highest inflation rate in 13 years.

Asian markets pulled back amid the uncertainty, led by Japan’s Nikkei and South Korea’s Kospi down 0.3% apiece.

China’s main index fell 0.8% while Hong Kong’s Hang Seng slid 0.6%. Australia’s ASX200 was up 0.2%.-The Star

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