KLCI recovers at midday, up 1.52 points

by SHAHEERA AZNAM SHAH / pic by TMR

The Bursa Malaysia main index continues to recover at midday trading session today despite the jitters over Turkey’s financial position.

At 12.30 pm today, the local bourse’s KLCI rose 1.52 points to close the morning session at 1,785.30.

The market breadth was positive as gainers outpaced losers by 377 to 376 while 746 counters untraded. The turnover was 1.39 billion shares valued at RM801.6 million.

The leading gainers included Petronas Dagangan Bhd, British AMerican Tobacco (Malaysia) Bhd, Elsoft Research Bhd, Malaysian Pacific Industries Bhd and Tenaga Nasional Bhd.

Active counters included Foundpac Group Bhd, Borneo Oil Bhd, Goodway Integrated Industries Bhd, Euro Holdings Bhd and Malaysian Resources Corp Bhd.

The leading decliners included Nestle (Malaysia) Bhd, Fraser & Neave Holdings Bhd, KESM Industries Bhd, RHB Bank Bhd and Latitude Tree Holdings Bhd.

Asian markets were mixed with the MSCI AC Asia Pacific was up by 0.64 points or 0.39% to 163.04, Japan’s Nikkei 225 fell 152.61 points or 0.68% to 22,203.47 and Hong Kong’s Hang Seng fell 79.88 points or 2.11% to 3,702.70.

According to Reuters, Asian stocks retreated on Wednesday, failing to follow Wall Street’s gains, while the dollar was near a 13-month high as concerns about Turkey’s financial crisis weighed on investor appetite despite the lira’s move away from an all-time low,