The ringgit was one of the better performers against the US dollar year-to-date.
KUALA LUMPUR: Fund buying of Genting Bhd
and IHH Healthcare helped shore up the FBM KLCI and enabled it to close firmer on Wednesday but the key Asian markets were mostly lower.
At 5pm, the KLCI was up 1.36 points or 0.08% to 1,773.75. Turnover was 1.72 billion shares valued at RM1.80bil. The broader market was firmer with advancers beating decliners two to one or 498 gainers to 283 losers and 411 counters were unchanged.
Hong Kong shares rose on Wednesday as investors took heart from strong quarterly earnings despite signs of slowing growth in China, Reuters reported.
The Hang Seng index ended up 0.9% at 27,409.07, while the China Enterprises Index gained 0.7% to 10,817.88.
The US dollar held on to big gains on Wednesday before minutes of the US Federal Reserve's latest meeting, while European shares followed Asian stocks higher, Reuters reported.
The ringgit slipped against the US dollar but rose against the other key currencies. It shed 0.01% against the greenback to 4.2975. However, it rose 0.24% against the pound sterling at 5.5390, gained 0.18% to the Singapore dollar at 3.1426 and advanced 0.24% to the euro at 5.0388.
Among the heavyweights, Genting Bhd rose 14 sen to RM9.79 and pushed the KLCI up 0.88 of a point, IHH Healthcare added three sen to RM6.02, Tenaga added two sen to RM14.22, MISC and Genting Malaysia were flat at RM7.30 and RM6.06.
US light crude oil rose 24 cents to US$47.79 and Brent climbed 32 cents to US$51.12. Petronas Gas added six sen to RM18.88, Petronas Chemicals rose one sen to RM7.16 while Petronas Dagangan was flat at RM23.96.
Crude palm oil for third-month delivery fell RM27 to RM2,619 per tonne. United Plantations fell the most, down 28 sen to RM27.80, Genting Plantations-WA fell 20 sen to RM2.80, KL Kepong lost 18 sen to RM24.50, Batu Kawan and Genting Plantations RM18.90 and RM10.48 while PPB Corp and Sime Darby lost eight sen each to RM16.50 and RM9.30. IOI Corp rose two sen to RM4.48.
Among the banks, RHB Bank staged a mild recovery after the recent selling pressure to advance four sen to RM4.87, Hong Leong Bank added two sen to RM15.40, AmBank rose one sen to RM4.64, Maybank and Public Bank were flat at RM9.69 and RM20.58 while CIMB shed one sen to RM6.77.
Bursa Malaysia fell 16 sen to RM10.60 as analysts expected slower earnings growth. Aeon Credit added 18 sen to RM12.62.
As for telcos, Digi rose two sen to RM4.82, Axiata one sen higher at RM4.84, Maxis and Telekom were flat at RM5.75 and RM6.37.
As for the chip makers and tech-related stocks, Pentamaster rose 30 sen to RM4.63, KESM added 20 sen to RM15.20 and IQ Group 18 sen lower at RM4.77. Aemulus rose five sen to 71 sen in active trade.
REV Asia rose 9.5 sen to 46.5 sen in active trade on the entry of two investment experts to its board - Genting Malaysia Bhd’s former strategic investments and corporate affairs head Datuk Justin Leong Ming Loong and JP Morgan Malaysia’s former vice president (global investment) Wan Mohd Firdaus Wan Mohd Fuaad.
Among the key regional markets,
Japan’s Nikkei 225 shed 0.12% to 19,729.28;
Hong Kong’s Hang Seng Index rose 0.86% to 27,409.07;
CSI 300 shed 0.13% to 3,701.42;
Shanghai’s Composite Index shed 0.15% to 3,246.45;
Hang Seng China Enterprise rose 0.74% to 10,817.88;
Taiwan’s Taiex shed 0.2% to 10,290.39;
South Korea’s Kospi rose 0.6% to 2,348.26 and
Singapore’s Straits Times Index fell 0.61% to 3,274.68.
Spot gold fell US$1.12 to US$1,270.41.
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