Business News

Monday, 15 July 2013 | MYT 5:14 PM

KLCI closes higher on late buying

KUALA LUMPUR: Late buying of banking stocks helped lift the FBM KLCI more than one point after being in the negative territory on Monday, in line with the firmer Asian markets.

At 5pm, the KLCI closed up 1.02 points to 1,786.67. Turnover was 1.12 billion valued at RM1.615bil. There were 372 gainers, 356 losers and 304 counters unchanged.

Bloomberg reported China’s economy slowed for a second quarter as growth in factory output and fixed asset investment weakened, adding to risks that the government will miss its expansion target as Premier Li Keqiang reins in a credit boom.

At Bursa Malaysia, consumer stocks fell with Nestle down 40 sen to RM68.60 and BAT 28 sen to RM60.32.

Among  banks, Maybank rose 10 sen to RM10.50, Public Bank eight sen to RM17.04, CIMB three sen to RM8.35, AMMB five sen to RM7.70 and Hong Leong Bank 14 sen to RM14.30 but RHB Cap fell nine sen to RM8.50.

Crude palm oil fell RM59 to RM2,242 but PPB Group rose four sen to RM14.50. KL Kepong fell 16 sen to RM21.70 and IOI Corp two sen to RM5.58.

PetChem rose one sen to RM6.62 but PetGas fell four sen to RM21.

Puncak rose 34 sen to RM2.65, Allianz 26 sen to RM9.48.

Axiata fell three sen to RM6.79 and Tenaga five sen to RM8.60.

The ringgit weakened against the dollar at 3.1904 from 3.1775 the previous close.

Among the key regional markets,

Japan’s Nikkei 225 rose 0.23% to 14,506.25;

Hong Kong’s Hang Seng Index rose 0.12% to 21,303.31;

Shanghai’s Composite Index rose 0.98% to 2,059.39;

Taiwan’s Taiex rose 0.42% to 8,254.68;

South Korea’s Kospi rose 0.28% to 1,875.16.

Singapore’s Straits Times Index rose 0.1% to 3,239.20

US light crude oil fell 39 cents to US$105.56 and Brent 13 cents to US$108.68. 

Spot gold fell US$4.35 to US$1,281.24.

Tags / Keywords: Investing

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