KUALA LUMPUR: Investors are focused on upcoming corporate results to keep the market on a firm footing going even as expectations for a US rate cut have been pushed back to June.
At 12.3pm, the benchmark FBM KLCI was down 1.2 points to 1,528.13 although the broader market remained positive with 465 gainers compared to 382 decliners and 434 unchanged.
The trading volume was 2.12 billion shares changing hands for a value fo RM1.1bil.
On the blue-chip index, telcos dragged with Axiata down two sen to RM2.75, CelcomDigi dropping three sen to RM4.23 and Maxis shedding one sen to RM3.77.
Bank were also slightly lower including CIMB falling one sen to RM6.36, Maybank dropping one sen to one sen to RM9.39 and RHB shedding one sen to RM5.63.
Of actives, SMTrack was up one sen to 5.5 sen, TWL up 0.5 sen to four sen and Minetec rising one sen to 16 sen.
In Asian markets, Japan’s Nikkei tracked a bullish Wall Street, rising 1.1% to 38,107 despite economic data showing the the country had slipped into a technical recession.
South Korea’s Kospi started on a strong footing but retraced its gains to start the midday session almost flat at 2,619.
China’s mainland markets remained closed for the Lunar New Year holiday but Hong Kong’s Hang Seng was up 0.4% to 15,947.
