KUALA LUMPUR: Petronas Chemicals underpinned the FBM KLCI’s rebound early Wednesday after its strong fourth quarter earnings and also firm crude oil prices.
At 9.12am, the KLCI was up 10.50 points or 0.67% to 1,575.55. Turnover was 1.47 billion shares valued at RM430.21mil. There were 322 gainers, 296 losers and 355 counters unchanged.
Asian equities opened lower on concerns about rising interest rates and rich equity valuations and following a downdraft in US and European overnight trading, Reuters reported.
The Dow and S&P 500 recouped early losses after Federal Reserve Chair Jerome Powell reiterated in testimony before the Senate Banking Committee that monetary policy would remain accommodative and would not change without advance warning.
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