FBM KLCI bounces higher amid subdued regional sentiment


KUALA LUMPUR: Malaysia's stock benchmark stayed in positive territory despite a volatile early session as regional markets stepped back amid as the US ordered TSMC to suspend the sale of advanced chips for AI applications to Chinese customers.

While key Asian markets edged lower, the FBM KLCI rose 2.06 points to 1,611.32, retracing slightly some of the losses seen in the previous session.

The broader market remained negative with 513 declining stocks compared with 346 gainers. The market trading volume was 1.76 billion shares valued at RM1.09bil.

Financial services and plantations led the gains on the market amid the uneven rebound while utilities stocks were sold down.

Among heavyweight banks, Maybank climbed 12 sen to RM10.46, Public Bank gained three sen to RM4.44 and CIMB jumped eight sen to RM8.24.

Kuala Lumpur Kepong led plantations stocks higher, rising 16 sen to RM22.50, while IOI rose nine sen to RM4.04.

Of actives, Mpire Global gained 1.5 sen to 21.5 sen, Capital A rose three sen to RM1.01 and Azam Jaya added 11 sen to RM1.20.

In key Asian markets, the sentiment remained dampened by anxieties over worsening trade disruptions as Donald Trump prepares for his return to the White House.

Japan's Nikkei dropped 0.73% to 39,243 and China's composite index slipped 0.6% to 3,467.

Hong Kong's Hang Seng index shed 1.73% to 20,073. Singapore's Straits Times was down 072% to 3,712.

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