A woman walks past electronic boards showing the share index at a bank in Kuala Lumpur.
KUALA LUMPUR: Maybank and Genting led the FBM KLCI higher at midday on Friday, while the ringgit continued to advance against the key currencies amid a mixed broader market.
At 12.30 pm, the benchmark FBM KLCI rose 1.61 points to 1,681.91. The index opened 4.89 points weaker at 1,675.41.
Turnover stood at 712.3 million shares worth RM550.5mil. Decliners slightly outnumbered gainers 326 to 325, while 350 counters were unchanged.
The ringgit rose to 4.0197 against the US dollar. The US dollar remained on tenterhooks on Friday ahead of Federal Reserve Chair Janet Yellen’s much anticipated speech that some believe could provide clarity on whether the US interest rates will rise this year.
Overnight, US stocks ended slightly lower as investors were reluctant to make big bets the day before Yellen’s speech that will be picked apart for clues to the central bank’s next rate move.
The Dow Jones Industrials Average weakened 33.07 points to 18,448.41 while S&P 500 eased by 2.97 points to 2,172.47.
Following the negative performance from both the US and Europe, JF Apex said the FBM KLCI could remain pressured towards its support level of 1,675 points.
JF Apex said Gadang Holdings Bhd
, Barakah Offshore Petroleum Bhd and Malaysia Airports Holdings Bhd (MAHB) could see trading interest on Friday after their corporate announcements.
At Bursa Malaysia, BAT surged 78 sen to RM50.62, Padini rose 23 sen to RM2.86 and DKSH gained 22 sen to RM5.40.
Among the banks, Public Bank rose 2 sen to RM19.76, Maybank added 10 sen to RM8, CIMB Group lost 1 sen to RM4.68 while Hong Leong Bank was down 6 sen to RM13.08.
The decliners included Dutch Lady, Nestle and Apex Healthcare.
Brent crude was last traded at US$49.56 per barrel while US crude traded at US$47.27 per barrel.
Spot gold rose 0.16% to US$1,324.10 per troy ounce.
Among the key regional markets:
Japan’s Nikkei 225 is down 0.54% to 16,466.33;
Hong Kong’s Hang Seng Index is up 0.5% to 22,929.92;
Shanghai Composite Index rose 0.45% to 3,082.05;
Taiwan’s Taiex shed 0.02% to 9,113.62;
South Korea’s Kospi fell 0.27% to 2,037.35 and;
Singapore’s Straits Times Index is down 0.28% to 2,868.81 points.
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