KUALA LUMPUR: Bursa Malaysia closed higher on late fund buying of IHH Healthcare on Friday after a lacklustre week as positive economic data failed to spur investor buying.
At 5pm, the FBM KLCI was up 1.32 points or 0.08% to 1,755.32. Turnover fell to 3.33 billion shares valued at RM1.98bil. There were 426 gainers, 362 losers and 477 counters unchanged.
The ringgit was mixed against the key currencies. It rose 0.04% to the US dollar at 4.2220 and climbed 0.22% to the euro to 4.9933. It ended flat verus the Singapore dollar at 3.1163 and was 0.62% lower against the pound sterling at 5.6175.
UOB Kay Hian Malaysia Research said the equities market lacked domestic catalysts in 2H17, and as predicted, 1H17’s healthy foreign inflows in the capital market have stalled. It maintained it year-end target of 1,770.
“Foreign flows have turned negative (-RM242m for equities) for the first time this year in August 2017, and -RM800mil for debt. Foreign investors may be sidelined by the big expiry of Malaysian Government Securities in October, and to a smaller extent, monetary tightening in the US,” it said
Japan's Nikkei share average surged to a fresh 21-year high on Friday, helped by index heavyweight Fast Retailing, while selling of Kobe Steel resumed as worries about its data fabrication scandal extended overseas, Reuters reported.
World stocks rose for a fourth straight day on Friday on expectations of broad-based global growth, while the dollar headed for its worst week in five as investors awaited US inflation data. MSCI's world equity index, which tracks shares in 47 countries, was up 0.1% after hitting record highs on Thursday.
At Bursa, Padini was the top gainer, up 25 sen to RM4.80 as investors turned positive while Hai-O's saw a resumption of retail interest after its recent results, climbing 14 sen to RM5.39. Perstima added 12 sen to RM5.76.
As for tech and related companies, Vitrox gained 24 sen to RM5.10 and Pentamaster 15 sen higher at RM4.95. MPI fell 30 sen to RM14.
MESB gained 13 sen to RM1.30 and Perstima added 12 sen to RM5.76.
As for the blue chips, IHH Healthcare rose six sen to RM5.83 and added 0.84 of a point to the KLCI while Tenaga gained eight sen to RM14.20 and nudged the imndex 0.77 of a point. Genting Bhd
fell six sen to RM9.44 while Genting Malaysia shed one sen to RM5.26 .
Telcos were mixed with Digi up four sen to RM4.88, Maxis and Telekom were flat at RM5.88 and RM6.20 but Axiata shed six sen to RM5.27.
Among the banks, Hong Leong Bank gained 14 sen to RM16.02, AmBank five sen to RM4.47, CIMB three sen to RM6.32, RHB Bank was flat at RM5.15 while Maybank shed two sen to RM9.51 and Public Bank six sen lower at RM20.50.
Crude palm oil for third month delivery rose RM27 to RM2,723 per tonne. PPB Group added six sen to RM16.84, IOI Corp two sen to RM4.53, Sime Darby one sen to RM9.05, KL Kepong fell four sen to RM24.72.
Oil prices firmed on Friday as strong Chinese oil import data and turmoil in the Middle East boosted bulls in a market that has already shown signs of rebalancing after years of excess, Reuters said.
Brent was at US$57.23 at 0914 GMT, up 98 cents. US West Texas Intermediate (WTI) crude was at US$51.41 per barrel, up 81 cents from its last settlement.
Petronas Gas rose 12 sen to RM18.60, Petronas Chemicals edged up one sen to RM7.34 and Petronas Dagangan was flat at RM24.28.