KUALA LUMPUR: Sime Darby hogged the limelight early Friday after its proposed corporate exercise and its gains underpinned the FBM KLCI’s gains.
At 9.38am, the KLCI was up 0.21% or 0.01% to 1,692.43. Turnover was 320.76 million shares valued at RM97.15mil. There were 157 gainers, 130 losers and 223 counters unchanged.
Reuters reported Asian shares were steady on Friday and were on track for a solid advance this week, while oil and the dollar held onto gains in the wake of strong US corporate earnings.
MSCI's broadest index of Asia-Pacific shares outside Japan was little changed, but on track to end the week up 1.9%. Japan's Nikkei rose 0.3%, extending gains for the week to 1.7%.
South Korean markets are closed for holidays on Friday and Monday. Chinese markets are shut for the Lunar New Year holiday and will resume trade on Friday, Feb. 3. Taiwan is also closed for Lunar New Year and will reopen on Thursday, Feb. 2.
Meanwhile, oil prices dipped, with rising crude output from the US offsetting efforts by OPEC and other producers to cut supplies to prop up the market.
Brent crude futures were trading at US$56.14 per barrel at 0132 GMT, down 10 cents from their last close. US West Texas Intermediate (WTI) crude futures dropped 2 cents to US$53.76 a barrel.
At Bursa, Sime Darby rose 39 sen to RM9.21 with 2.89 million shares done. Its call warrants C7 rose seven sen to 19.5 sen.
Sime Darby plans to spin off its plantations and property businesses in separate listings on Bursa Malaysia, while the trading and logistic businesses will remain under Sime Darby Bhd
, which will retain its listed status.
UMW added 12 sen to RM5.93, MPI 11 sen to RM8.14, CCM seven sen higher at RM1.10 while SP Setia and Zhulian rose seven sen each to RM3.33 and RM1.47.
Petronas Gas fell 40 sen to RM20.54, HLFG 30 sen lower at RM14.80 while Maybank and Public Bank shed six sen each to RM8.26 and RM20.22.
