Bursa moves mildly higher amid regional rally
KUALA LUMPUR: The FBM KLCI was slightly higher at midday amid the ongoing uncertainties in the global economy.
At 12.30pm, the key index was up 0.62 points to 1,419.06.
Trading volume was 1.43 billion shares valued at RM540.17mil.
There were 369 gainers compared with 350 decliners.
Amid recessionary risks, the financial services sector slipped with Maybank dropping one sen to RM8.58, Public Bank falling two sen to RM4.38 and Hong Leong Bank shedding 12 sen to RM20.18. CIMB was the exception rising one sen to RM5.06.
In commodities, Press Metal gained eight sen to RM4.05, PETRONAS Chemicals added two sen to RM8.13 and PETRONAS Gas rose eight sen to RM16.50.,
Marking its debut on the ACE Market, Ecoscience International, which opened in the red slid further further in the morning session to 27.5 sen, 2.5 sen below its initial public offering price.
The counter, which was the most traded at the opening bell, closed morning trade with 43.63 million shares traded.
Top on the actives list were MMAG up one sen to six sen and Borneo Oil unchanged at 2.5 sen.
Shares were on the rise in major Asian markets despite the near certainty of a rate hike in Europe while more corporate earnings are scheduled for release.
Japan's Nikkei rose 0.5% to 26,788, South Korea's Kospi climbed 1.7% and China's composite index added 1.5%.
in Hong Kong, the Hang Seng surged 2.6% while Australia's ASX200 gained 0.8%.