KUALA LUMPUR: Malaysia’s benchmark FBM KLCI shrugged off earlier weakness and extended the rebound from the previous session.
At 12.30pm, the key index was up 6.34 points to 1,457.34. There were 399 decliners compared to 318 gainers, which suggests ongoing consolidation among the market’s lower liners.
Trading volume was 1.8 billion shares valued at RM886.19mil.
Malaysia’s blue chips have returned to a recovery trend as foreign funds seek out bargains in the sold-down market.
However, Asian markets have mostly gone the other direction amid disappointing Chinese economic data, the latest being a consumer price report that showed deflationary pressure.
In China, the composite index fell 0.4% to 3,249 while Hong Kong’s Hang Seng was down 0.1% to 19,173.
Japan’s Nikkei dropped 0.6% to 32,185 but South Korea’s Kospi bucked the trend to rise 1.2% to 2,605.
Among individual counters, Bursa’ blue chips were mostly higher with gains seen across sectors.
Maybank gained three sen to RM9, Public Bank rose one sen to RM4.15, CIMB put on one sen to RM5.61 and Hong Leong Bank added 10 sen to RM19.80.
In telcos, CelcomDigi climbed seven sen to RM4.36 and maxis added one sen to RM3.95.
Plantations counter Kuala Lumpur Kepong gained four sen to RM23.40, IOI rose six sen to RM4.16 and Sime Darby Plantation was up two sen to RM4.56.
Of actives, Classita dropped one sen to 10.5 sen, Handal gained three sen to 27.5 sen and Sapura Energy added 0.5 sen to six sen.
– The Star