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FBM KLCI edges higher at midday, banking stocks lead

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Bursa Malaysia,FBM KLCI,KLCI

JAKARTA: Simmering tensions between Indonesian Democratic Party of Struggle (PDI-P) chairwoman Megawati Soekarnoputri and Joko 'Jokowi' Widodo appeared to have reached a new height, with her loyalists accusing him of seeking to divide and take over the party.

KUALA LUMPUR: The FBM KLCI edged higher at midday, supported by gains in banking stocks, amid cautious investor sentiment.

United Plantations tumbled RM1.30 to RM30.52, Gamuda slid 16 sen to RM4.62, MBM Resources fell 16 sen to RM6.04 and KLCC lost 14 sen to RM8.07. Meanwhile, market sentiment could be dampened by the US Fed's cautious approach to further rate cuts next year, implying they would stay elevated for longer, as well as by fears of a possible US government shutdown this week.

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