KUALA LUMPUR: CIMB Group
's record quarterly earnings helped underpinned the FBM KLCI's higher close on Wednesday but the broader market reflected a more cautious outlook despite the firmer crude oil prices.
At 5pm, the FBM KLCI was up 3.84 points or 0.22% to 1,771.01. Turnover was 3.38 billion shares valued at RM2.89bil. There were 419 gainers, 546 losers and 356 counters unchanged.
The ringgit inched up 0.01% against the US dollar to 4.2930 from 4.2936 and added 0.18% against the Singapore dollar at 3.0905 from 3.0960 and gained 0.6% versus the euroi to 4.8018 from 4.8309. However, it was flat against the pound sterling at 5.5777.
Hong Kong stocks rose for a fourth day on Wednesday to a fresh 22-month high, shrugging off Moody's downgrade of China's soveriegn credit rating, Reuters reported.
CIMB rose 14 sen to RM6.13 and pushed the KLCI up 2.15 points. It posted its highest quarterly earnings at RM1.18bil in tandem with the gradually improving regional economic conditions and capital market activity.
RHB Bank added 10 sen to RM5.39, Maybank and AmBank added one sen each to RM9.36 and RM5.27 while Hong Leong Bank was flat at RM14 while Public Bank fell six sen to RM20.08 and HLFG lost 32 sen to RM16.26.
MAHB rose 29 sen to RM8.76, Genting Bhd was up 15 sen to RM9.92 while Genting Malaysia added two sen to RM5.95. Tenaga gained two sen to RM13.82 but IHH fell 13 sen to RM5.73 and ewrased 1.82 points from the KLCI.
Among the consumer stocks, BAT rose 80 sen to RM45, F&N added 40 sen to RM25 and Dutch Lady gained 30 sen to RM58.40 but Nestle lost 50 sen to RM81.50.
Wing Tai hit limit-up, up 35 sen to RM1.53 after its major shareholders make an offer to take over the company at RM1.80 a share.
AAX was the most active with 343 million shares done, falling 8.5 sen to 45 sen on concerns about headwinds later in the year. AirAsa lost 31 sen to RM2.94 while its call warrants C54 fell five sen to 8.5 sen.
Tasco rose 11 sen to RM2.59 on rising interest in the logistics sector. However, Pos Malaysia skidded 37 sen to RM5.18 on profit taking.
US light crude oil rose 23 cents to US$51.70 and Brent gained 26 cents to US$54.41. Among the oil and gas stocks, Petronas Chemicals rose eight sen to RM7.43 and nudged the KLCI up 1.08 points but Petronas Dagangan fell 30 sen to RM24.38 and Petronas Gas shed two sen to RM19.16 and
As for telcos, Maxis rose three sen to RM6.45 while Digi, Axiata and Telekom were one sen higher at RM5.03, RM5.21 and RM6.45.
Crude palm oil for third-month delivery fell RM27 to RM2,590 per tonne.
KL Kepong rose four sen to RM24.80, IOI Corp two sen to RM4.53, Sime was flat at RM9.32 and PPB Group lost two sen to RM16.98.
Among the key regional markets,
Japan’s Nikkei 225 rose 0.66% to 19,742.98;
Hong Kong’s Hang Seng Index rose 0.1% to 25,438.50;
CSI 300 was flat at 3,424.17;
Shanghai’s Composite Index inched up 0.07% to 3,064.08;
Hang Seng China Enterprise shed 0.04% to 10,390.87;
Taiwan’s Taiex rose 0.37% to 10,044.42;
South Korea’s Kospi rose 0.24% to 2,317.34; and
Singapore’s Straits Times Index gained 0.27% to 3,232.24.
Spot gold gained 65 cents to US$1,251.86.
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