KLCI higher at midday amid muted regional markets

by TMR

Malaysia’s KLCI recovered from a flat start to trade in the green at mid-session today, continuing to rally from the 12-month low it slipped to on July 6 this year.

At 12.30pm, the local stock exchange traded 4.73 points higher at 1,809.46 and between a high and low of 1,810.98 and 1,803.00 respectively.

The composite index opened lower at 1,803.54 (down 1.19 points) on China’s fresh round of retaliatory tariffs on US$16 billion worth of US goods which resulted in a lackluster performance across regional markets.

A total of 1.33 billion shares were traded for the day for RM1.01 billion while gainers edged out losers 421 to 349 and 387 counters were unchanged and 725 untraded.

Top gainers were Panasonic Manufacturing Malaysia Bhd, British American Tobacco (M) Bhd, Far East Holdings Bhd, Vitrox Corp Bhd and Ajinomoto (M) Bhd.

Losers included United Plantations Bhd, Nestle (M) Bhd, Petronas Gas Bhd and IHH Healthcare Bhd.

Asian markers were mostly in the trade as Japan’s Nikkei 225 traded 25.03 points lower at 22,619.28 and Korea’s KOSPI down 5.52 points at 2,295.93.

Singapore’s STI fell 13.26 points to 3,326.74 at midday though Hong Kong’s Hang Seng was up 44.70 points at 3,906.20.

US markets were down with the Dow Jones Industrial Average and S&P 500 closing lower at 25,583.75 (down 45.16 points) and 2,857.70 (down 0.75 points) respectively.