KUALA LUMPUR: The benchmark FBM KLCI managed to stay afloat after a volatile morning trading session beset by concerns over China's manufacturing data and the upcoming Federal Reserve interest rate decision.
At 12.30pm, Malaysia's key stock index was up 0.67 points to 1,513.42. The broader market, however, was decidedly negative with 570 decliners compared to 300 gainers and 426 unchanged.
Investor sentiment in Asia was in decline on Wednesday after an official factory survey showed China's manufacturing activity in January contracted for a fourth straight month.
This compounded anxieties over the state of the country's property sector after a Court adjudged earlier this week that sector giant China Evergrande was to be liquidated.
Meanwhile, investors are also keenly watching for the US central bank's lending rate decision later tonight, where it is widely expected to maintain the status quo.
Back home, blue chips put on a mixed performance with gainers including Axiata up four sen to RM2.75, CelcomDigi rising five sen to RM4.24, Tenaga climbing 12 sen to RM10.60 and Nestle gaining 50 sen to RM119.90.
Laggards included PPB down 14 sen to RM14.46, Telekom down five sen to RM5.90 and RHB down four sen to RM5.60.
Of actives, TWL was unchanged at four sen, Sapura Energy
was flat at five sen and Reneuco dropped 5.5 sen to 10 sen.
