PetChem, Press Metal lead FBM KLCI higher

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KUALA LUMPUR: The FBM KLCI ended the morning session with a slight lead as a strong bounce in PETRONAS Chemicals and Press Metal shored up the index.

At 12.30pm, the key index was up 2.39 points to 1,490.66. There were 468 decliners compared with 240 decliners as the market sentiment remained weak on the ongoing sell-off in regional markets.PETRONAS Chemicals jumped 27 sen to RM9.01 and PETRONAS Gas rose six sen to RM17.12 while Press Metal added 17 sen to RM4.97.Meanwhile, bank stocks were mixed. Maybank rose three sen to RM8.93 and Hong Leong Bank added two sen to RM20.90 while IMB shed one sen to RM5.45 and PUblic Bank lost two sne to RM4.

In Asian markets, investors sold off equities as strong US economic data and weaker-than-expected Chinese trade numbers weighed on sentiment. Japan's Nikkei fell 1% to 27,346, South Korea's Kospi tumbled 1.75% to 2,367 and China's composite index was flat at 3,242.Article type: free

 

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