KUALA LUMPUR: The FBM KLCI partially retraced earlier gains to end slightly higher at midday amid ongoing volatility in plantations stocks following Indonesia's scheduled lifting of its crude palm oil export ban.

       Crude palm oil prices opened for trading lower but subsequently bounced 3.35% higher to RM6,870 a tonne.

       At 12.30pm, the key index was up 1.8 points to 1,551.21 while overall market stayed positive with 458 gainers compared with 300 decliners.

       Kuala Lumpur Kepong ended morning trade 14 sen in the red at RM26.76, IOI shed three sen to RM4.36 and Sime Darby Plantation fell 11 sen to RM5.12.

       There was also some selling pressure in Petronas counters, led by Petronas Gas sliding 48 sen to RM16.88 and Petronas Chemicals losing three sen to RM9.99.

       In the tech sector, MPI gained 38 sen to RM31.18, Kobay Technology rose 25 sen to RM3.45 and Petron Malaysia jumped 22 sen to RM7.35.

       Among most actives, Technax gained 0.5 sen to six sen, Serba Dinamik lost 0.5 sen to 14 sen and MNC shed 0.5 sen to two sen.

       In Asian markets meanwhile, investors jumped into equities as China cut is benchmark lending rate to head off the effects of its pandemic lockdown and support the economy.

       China's composite index climbed 1.1% while Japan's Nikkei rose 1.2% and South Korea's Kospi gained 1.8%.

       In Hong Kong, the Hang Seng was up 1.8% while Australia's ASX200 added 1.1%.