KUALA LUMPUR: The FBM KLCI retreated to the psychological support of 1,600 points at midday as investors took profit in the absence of fresh leads.
At 12.30pm, the benchmark index was down 4.28 points to 1,600.47, affirming expectations that equities prices will trend sideways as investors awaited more clarity on the global interest rate environment.
There are policy announcements by global central banks scheduled for later today, including Bank Negara’s 3pm decision on the overnight policy rate as well as the Bank of England’s own interest rate call in the evening.
Meanwhile, the broader Malaysian market was evenly spread between 470 rising stocks and 469 decliners as well as 503 unchanged.
Share turnover was 2.89 billion changing hands for RM1.56bil.
On the global front, optimistic trade data from China helped to shore up regional sentiment, leading to gains in key markets.
Japan’s Nikkei rose 0.3% to 38,330, Shanghai’s composite index leapt 0.9% to 3,156 and Hong Kong’s Hang Sneg added 1.2% to 18,538.
Singapore’s Straits Times Index was marginally higher at 3,266.
On Bursa Malaysia, plantation plays were taken down a peg including Kuala Lumpur Kepong down 26 sen to Rm22.94, Sime Plantation falling eight sne to RM4.54 and IOI down two sen to RM4.06.
Stocks that exerienced profit-taking after recent gains included Inari Amertron diving 14 sen to RM3.08, LPI sliding eight sne to RM12.20 and MNRB shedding 10 sen to RM2.22.
Of actives, Harvest Miracle dipped one sen to 10.5 sen, MYEG rose 0.5 sen to 99 sen and Mui Industries was flat at 5.5 sen.