Foreign funds continued to reduce their stakes but at a much slower scale. Net selling by foreign funds were at -RM22.46mil and local retail investors joined in to be net sellers at -RM14.6mil. However, local institutions were propping the market with net buying at RM37.06mil.
The ringgit halted its recent decline and was flat against the US dollar at 4.3830 while against the pound sterling it was at 6.6419 from 6.6634 the previous day and was at 3.0784 to the Singapore dollar from 3.0812.
“Risk appetite has returned and currencies in emerging markets are regaining ground,” Bloomberg quoted Nizam Idris, head of foreign exchange and fixed-income strategy at Macquarie Bank Ltd. in Singapore. “The recovery in Brent as well as U.S. and European stocks also helped sentiment.”
HLFG added 26 sen to RM13.70 after declaring an interim dividend of 13 sen a share.
Public Bank rose 14 sen to RM18.10, AmBank four sen to RM4.68 while RHB Cap and CIMB added one sen each to RM4.68 and RM4.57.
Hong Leong Bank fell four sen to RM13.70 and Maybank six sen to RM8.24. HLFG added 26 sen to RM13.70 after declaring an interim dividend of 13 sen a share.
IHH rose nine sen to RM6.65 and added 1.24 points to the KLCI.
Axiata added 10 sen to RM6.18 and pushed the KLCI up 1.48 points, TM added five sen to RM6.56, DiGi two sen to RM5.10 but Maxis fell one sen to RM6.52.
Crude palm oil for third month delivery rose RM4 to RM2,304. BLD Plantations rose 30 sen to RM9.35, KL Kepong four sen to RM22.54, PPB Group 14 sen to RM15.56 but IOI Corp lost two sen to RM4.15 and heavyweight Sime Darby two sen to RM7.98.
US light crude oil fell two cents to US$41.72 but Brent gained 24 sen to US$44.80.
SapuraKencana rose two sen to RM2.10, Petronas Chemicals one sen to RM6.51 while Petronas Gas was flat at RM22.94 but Petronas Dagangan fell 10 sen to RM23.34.
Tenaga rose four sen to RM13.08 and UMW 34 sen to RM8.34.
Daibochi jumped 53 sen to RM5.24 ahead of its earnings announcement after market close.
Glove makers traded higher with Top Glove up 34 sen to RM10.14 and Hartalega
28 sen to RM5.88.
Among the key regional markets,
Japan’s Nikkei 225 rose 1.22% to 19,630.63;
Hong Kong’s Hang Seng Index rose 1.15% to 22,264.25;
Shanghai’s Composite Index fell 0.06% to 3,604.80;
Taiwan’s Taiex rose 1.5% to 8,419.42;
South Korea’s Kospi added1.06% to 1,963.58; and
Singapore’s Straits Times Index eked out 0.04% to end at 2,916.78.
Spot gold fell US$2.15 to US$1,080.61.
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