KUALA LUMPUR: Malaysia’s key stock index was mildly higher at midday as investors awaited the release of coporate results, although the market was broadly lower on disappointment over recent global economic data.
At 12.30pm, the benchmark FBM KLCI was up 1.12 points to 1,534.67 as some buying interest remained on the back of higher Chinese mainland markets following their post-Lunar New year reopening.
There were, however, 555 declining counters compared to 356 gainers, suggesting weakness on the market as recent US economic data suggested the central bank could be keeping interest rates elevated for the time being.
Trading volume was 2.12 billion shares changing hands for RM1.01bil.
Amid rising counters, QL Resources gained seven sen to RM5.87 while Sime Darby added six sen to RM2.52 and Telekom climbed three sen to RM5.83.
Genting rose two sen to RM4.93 while Genting Malaysia gained two sen to RM2.87.
Among actives, Hong Seng rose 0.5 sen to 2.5 sen, Minetec dropped one sen to 18 sen and TWL was unchanged at 3.5 sen.
In Asian markets, China’s mainland stock exchange reopened for business on a positive note, gaining 0.9% to 2,891 although investors had hoped for a more decisive rally as the market played catch-up to its global peers.
Hong Kong’s Hang Seng, which ended its Chinese New Year break last Wednesday, was down 1% to 16,176.
Japan’s Nikkei slid 0.3% to 38,382 and South Korea’s Kospi rose 1.1% to 2,677.