KUALA LUMPUR: The FBM KLCI retraced lower after a strong start to end the morning just slightly positive.
At 12.30pm, the key index was 1.79 points higher at 1,491.59.
The overall market was balanced with 345 gainers compared with 347 decliners.
Trading volume was 1.11 billion shares exchanging hands for RM603.37mil.
As the morning progressed, the weak market sentiment resulting from potential US rate hikes offset the gains made from an early boost following China’s plans to accelerate stimulus measures and boost the local economy.
However, commodities plays and telcos kept the FBM KLCI on a positive footing.
PETRONAS Chemicals rose nine sen to RM8.91, Press Metal
added three sen to RM4.75, Maxis climbed five sen to RM3.74 and Digi gained two sen to RM3.60.
Among banks, Maybank added four sen to RM8.98 while CIMB slid one sen to RM5.47 and Hong Leong Bank was down four sen to RM20.86.
On the broader market, top actives were Metronic up 0.5 sen to eight sen, Jade Marvel down 1.5 sen to 27.5 sen and SMI falling 5.5 sen to 20 sen.
In Asian, key markets were mildly positive. Japan’s Nikkei was little changed at 27,627, South Korea’s Kospi rose 0.1% to 2,404 and China’s composite index gained 1% to 3,232.
Hong Kong’s Hang Seng dropped 0.4% to 19,144 while Australia’s ASX200 was 0.1% higher at 6,854.