KUALA LUMPUR: Major Asian markets staged a recovery in the late morning on Friday, with Hong Kong’s Hang Seng Index rising 4.5%, reversing from an earlier 3.9% loss, as an improved sentiment also helped the local stock market.
The Bank of Japan held its benchmark interest rate at 0.3% and said it would consider pumping more money into the financial system to prop up an economy, which entered into recession last quarter, according to a Bloomberg report.
At 12.30pm, the KL Composite Index was down 4.27 points to 861.05, off the early low of 853.
Turnover was 337.41 million shares valued at RM285.44mil. There were 119 gainers, 307 losers while 158 counters were unchanged.
The Hang Seng Index rose 553 points or 4.5% to 12,851 while the Nikkei 225 added 0.84% to 7,767.72 and Singapore’s Straits Times Index advanced 0.88% to 1,628.23 but Shanghai’s A Share Index skidded 4.28% to 1,994.68.
Light crude oil fell 37 cents to US$47.05 while the crude palm oil price futures declined RM44 to RM1,424. The ringgit was quoted at RM3.622 to the US dollar.
Kramat was 50 sen down to RM3.50, United Plantations fell 35 sen to RM9.95, Loh & Loh lost 30 sen to RM4.58 and Putrajaya Perdana 28 sen to RM4.52 and Shell 20 sen to RM9.10.
TMI fell 12 sen to RM3.86 and MISC foreign 10 sen to RM8.20.
DiGi rose 30 sen to RM20.20, Puncak added 11 sen to RM2.41, IJM seven sen to RM2.56 and Gamuda six sen to RM1.60.
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