Hong Leong Bank, Genting shore up KLCI, Ranhill down

KUALA LUMPUR: Some buying of Hong Leong Bank and Genting Bhd shored up the FBM KLCI in early Wednesday trade but Ranhill fell on its trading debut.

At 10.05am, the KLCI was up 2.09 points or 0.12% to  1,693.01. Turnover was 356.41 million shares valued at RM228.75mil. There were 220 gainers, 200 losers and 280 counters unchanged.

Oil prices rose early on Wednesday after falling in the previous session, with U.S. producers showing increasing signs of financial distress and as focus shifted to U.S. inventory data due later in the day.

US light crude futures were trading at US$36.94 per barrel at 0117 GMT, up 60 cents from their last settlement. International benchmark Brent futures were up 40 cents at US$39.14 a barrel.

The climbs came after crude prices dropped around 2% the previous session.

At Bursa Malaysia, Ranhill fell 12 sen to RM1.08 with over 20 million shares  done.

Hong Leong Bank rose 14 sen to RM13.16 and Genting Bhd added nine sen to RM8.74. Genting Malaysia fell eight sen to RM4.30.

Panasonic Malaysia was the top gainer, up 30 sen to RM27.30 with 9,800 shares done.

Puncak jumped 13 sen to RM1.31 and its warrants 12 sen to 57 sen.

Among the plantations, KL Kepong fell 16 sen to RM24.38. Allianz lost 10 sen  to RM10.60, Hap Seng nine sen lower at RM7.65 while Scientex fell eight sen to RM11.12.