Genting helped the FBM KLCI close higher on Friday.
KUALA LUMPUR: Fund buying of Genting group and Sime Darby enabled the FBM KLCI to close higher on Friday, ahead of the Chinese New Year holidays despite the mixed key Asian markets.
At 5pm, the FBM KLCI was up 5.69 points or 0.34% to 1,662.46. Turnover was 1.49 billion shares valued at RM1.67bil. The broader was mixed with 388 gainers to 412 losers and 312 counters unchanged.
There was some nibbling seen in banks and plantations though Petronas related stocks were mixed.
On the external front, Reuters reported China stocks dipped on Friday on market views that government moves to raise investment ceilings for overseas investors won't lead to an immediate surge in foreign buying of Chinese equities.
The ringgit weakened against the US dollar but strengthened against the pound sterling and Singapore dollar. It was quoted at 4.1535 to the greenback from 4.1425 the previous day while it firmed up to 6.0333 against the pound from 6.0655 and was at 2.9689 to the Singapore dollar from 2.9403.
Genting Bhd
rose 16 sen to RM7.96 and added 1.02 points to the KLCI while Genting Malaysia added seven sen to RM4.59.
Crude palm oil for third-month delivery rose RM73 to RM2,604 per tonne. United Plantations rose 38 sen to RM25.20, KL Kepong 34 sen to RM23.82, Sime Darby nine sen to RM7.87 and IOI Corp six sen to RM4.76 but PPB Group fell 30 sen to RM16.
Consumer stocks advanced in thin trade, with Dutch Lady adding 88 sen to RM48.88, BAT 30 sen to RM56.50 and GAB 18 sen to RM13.48. Nestle fell 18 sen to RM74.50.
As for banks, BIMB added 19 sen to RM3.50 in active trade, Public Bank six sen to RM18.54, RHB Cap and Hong Leong Bank four sen higher at RM5.45 and RM13.14 but Maybank shed three sen to RM8.54.
US light crude oil rose 14 cents to US$31.86 while Brent eased one cent to US$34.45. Petronas Gas gained 20 sen to RM22.50 but Petronas Dagangan lost 50 sen to RM25.10, Petronas Chemicals two sen to RM6.98 while SapuraKencana was flat at RM1.85.
Among the telcos, DiGi rose five sen to RM5.03. It posted a net profit of RM382.36mil in the fourth quarter ended Dec 31 and declared a net dividend of 4.9 sen per share amounting to RM381mil, or an almost 100% payout ratio to shareholders.
Telekom Malaysia rose five sen to RM6.64, Axiata four sen to RM5.89 but Maxis fell six sen to RM6.09.
Glove makers fell, with Kossan leading the decliners, falling 51 sen to RM6.49, condom maker Karex lost 24 sen to RM3.69 and Top Glove 15 sen to RM5.47.
Poultry company Lay Hong fell 13 sen to RM9.25 as investors took profit after its share price bucked the overall market since early this year.
Nestle fell 18 sen to RM74.50.
Among the key regional markets,
Japan’s Nikkei 225 fell 1.32% to 16,819.59;
Hong Kong’s Hang Seng Index rose 0.55% to 19,288.17;
CSI 300 fell 0.7% to 2,963.79;
Shanghai’s Composite Index lost 0.63% to 2,763.49;
Shenzhen Composite endd down 0.63% to 2,763.49;
Hang Seng China Enterprise climbed 1.01%to 8,054.87;
South Korea’s Kospi edged up 0.08% to 1,917.79 and
Singapore’s Straits Times Index jumped 2.53% to 2,623.21.
Spot gold rose 44 cents to US$1,156.03.
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