KUALA LUMPUR: The FBM KLCI ended the morning session in positive territory as investors look ahead to Bank Negara’s interest rate decision later today.
At 12.30pm, the key index was up 2.32 points to 1,493.67.
The market was optimistic with 372 gainers compared with 317 decliners. Trading volume was RM1.3 billion shares valued at RM845.26mil.
The performance on the local bourse was in line with that of regional markets as equities prices tracked Wall Street’s rebound overnight.
Oil prices fell sharply in the overnight session to below USS$90 a barrel, easing fears of a worsening energy crisis in Europe.
As at noon, mist blue chip stocks on Bursa Malaysia were slightly positive in anticipation of an expected 25 basis point overnight policy rate rate hike.
IHH was up three sen to RM6.23, MISC gained 11 sen to RM7.18 and Maxis rose four sen to RM3.80.
Most banks were slightly in the red with CIMB down one sen to RM5.39, Hong Leong Bank dropped two sen to RM20.86 and RHB fell one sen to RM5.76.
Of actives, Metronic fell 0.5 sen to 5.5 sen, SNS gained 0.5 sen to 26.5 sen and Agmo gained 65 sne to 98.5 sen.
In Asian markets, investors were tune in to Chinese trade data for clues over the impact the country’s zero-Covid policy has had on the economy.
Japan’s Nikkei jumped 2% to 27,981, South Korea’s Kospi rose 0.65% to 2,391 and China’s composite index slid 0.1% to 3,241.
Hong Kong’s Hang Seng was down 0.4% to 19,969 and Australia’s ASX200 rose 1.5% to 6,832.