FBM KLCI pares losses at midday

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KUALA LUMPUR: The FBM KLCI pared its losses following a steep fall in mid-morning trade.

At 12.30pm, the key index was down 2.79 points to 1,426.76. There were 393 decliners compared with 250 gainers.

Trading volume was 948.36 million shares valued at RM558.15mil.

Amid the weak sentiment, PETRONAS Chemicals ramped higher with a 22 sen increase to RM8.44.

Decliners included Maybank down two sen to RM8.56, Hong Leong Bank falling 18 sne to RM20.02 and Tenaga Nasional dropping five sen to RM7.90.




Maxis shed eight sen to RM3.26, Axiata dipped one sen to R2.65 and IOI fell four sen to RM3.94.

Of actives, Metronic rose 0.5 sen to nine sen, MMAG dropped 0.5 sen to five sen and MYEG slipped 2.5 sen to 78 sen.

In major Asian markets, equities declined on the back of overnight selling on Wall Street as Apple Inc cautioned it would reduce spending in the coming year.

South Korea's Kospi slid 0.3% to 2,368 and China's composite index fell 0.3% to 3,268.

Japan's Nikkei rose 0.75% to 26,990.

In Hong Kong, the Hang Seng was down 1.15% to 20,605 while Australia's ASX200 fell 0.6% to 6,645.


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