KUALA LUMPUR (June 11): The FBM KLCI reversed its earlier losses and rose 0.54% at the midday break, tracking gains at most regional markets.
At 12.30pm, the FBM KLCI rose 9.66 points to 1,787.98. The index had earlier slipped to its intra-morning low of 1,770.83.
The gainers included Dutch Lady Milk Industries Bhd, KESM Industries Bhd, Ajinomoto (M) Bhd, Petronas Gas Bhd, Top Glove Corp Bhd, Sime Darby Plantation Bhd, Petronas Dagangan Bhd, Kossan Rubber Industries Bhd and MISC Bhd.
The actives included My E.G. Services Bhd, Sapura Energy Bhd, Barakah Offshore Petroleum Bhd, Cuscapi Bhd, GSB Group Bhd, Perisai Petroleum Teknologi Bhd and UCrest Bhd.
Losers led gainers by 274 to 266, while 544 counters traded unchanged. Volume was 1.52 billion shares valued at RM1 billion.
Asia stocks shook off initial modest losses and edged up on Monday ahead of a US-North Korea summit that might ease regional tensions, while investors also started to focus on key central bank meetings later this week, according to Reuters.
Stocks dipped after US President Donald Trump backed out of a joint Group of Seven communique over the weekend, in a blow to the group’s efforts to show a united front, it said.
Affin Hwang Capital Research said it anticipated the local index to open softer today in tandem with the global markets as sentiments continue to be bogged down by trade tensions.
“However, in technical perspective, better news can be found as indicators are showing some increase in momentum to the upside,” it said.
Source: The Edge