TNB, Sime Darby Plantation lead KLCI rebound
KUALA LUMPUR: Bursa Malaysia came out ahead in a day where Asian equities were trading mixed due to concerns over slowing growth and weaker earnings.
Apple Inc triggered investors fears when it cut revenue forecasts due to weaker demand from its China market and fewer iPhone upgrades.
Apple Inc triggered investors fears when it cut revenue forecasts due to weaker demand from its China market and fewer iPhone upgrades.
In key Asian markets, the Shanghai Composite Index was flat as it entered midday. Hong Kong's Hang Seng Index and Japan's Nikkei each slid about 0.3%.
However, the local stock exchange rebounded from a steep slide it experienced in the previous session.
At 12.30pm, the FBM KLCI was up 9.63 points to 1,677.74. Turnover was 1.05 billion shares valued at RM553.05mil. There were 325 gainers versus 270 decliners and 307 counters unchanged.
Twenty-Two out of the 30 KLCI component stocks were in the green, seven declined and one was unchanged.
Leading the gains, Sime Darby Plantation rose 19 sen to RM4.74, Tenaga Nasional gained 20 sen to RM13.64 and MISC rose 16 sen to RM6.71.
Laggards were Petronas Dagangan dropping eight sen to RM25.92, Public Bank dropping eight sen to RM24.58 and Hartalega slipping two sen to RM6.15.
MAHB also lost eight sen to RM8.25 as the plans to sell its 11% stake in Hyderabad Airport collapsed.
Among the actively traded counters in the morning session, Inari fell 19 sen to RM1.28, Sapura Energy rose one sen to 29 sen and EA Holdings lost 0.5 sen to 1.5 sen.
In oil markets, prices fell amid volatile currency and stock markets, and as analysts warned of an economic slowdown for 2019 just as crude supply is rising globally, Reuters reported.
US crude dropped 87 cents to US$45.67 a barrel while Brent crude fell 56 cents to US$54.35 a barrel.
The ringgit moved 0.1% lower against the US dollar at 4.1420. However, it rose 0.1% against the Singapore dollar at 3.0328 and 1.2% against the pound sterling at 5.1970.
However, the local stock exchange rebounded from a steep slide it experienced in the previous session.
At 12.30pm, the FBM KLCI was up 9.63 points to 1,677.74. Turnover was 1.05 billion shares valued at RM553.05mil. There were 325 gainers versus 270 decliners and 307 counters unchanged.
Twenty-Two out of the 30 KLCI component stocks were in the green, seven declined and one was unchanged.
Leading the gains, Sime Darby Plantation rose 19 sen to RM4.74, Tenaga Nasional gained 20 sen to RM13.64 and MISC rose 16 sen to RM6.71.
Laggards were Petronas Dagangan dropping eight sen to RM25.92, Public Bank dropping eight sen to RM24.58 and Hartalega slipping two sen to RM6.15.
MAHB also lost eight sen to RM8.25 as the plans to sell its 11% stake in Hyderabad Airport collapsed.
Among the actively traded counters in the morning session, Inari fell 19 sen to RM1.28, Sapura Energy rose one sen to 29 sen and EA Holdings lost 0.5 sen to 1.5 sen.
In oil markets, prices fell amid volatile currency and stock markets, and as analysts warned of an economic slowdown for 2019 just as crude supply is rising globally, Reuters reported.
US crude dropped 87 cents to US$45.67 a barrel while Brent crude fell 56 cents to US$54.35 a barrel.
The ringgit moved 0.1% lower against the US dollar at 4.1420. However, it rose 0.1% against the Singapore dollar at 3.0328 and 1.2% against the pound sterling at 5.1970.
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Related Stocks
| BURSA | 7.450 |
| EAH | 0.005 |
| MISC | 7.870 |
| PBBANK | 4.210 |
| PETDAG | 21.600 |
| SAPNRG | 0.045 |
| SIMEPLT | 4.400 |
| TENAGA | 11.720 |
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