KUALA LUMPUR: Telekom Malaysia Bhd
, Genting Bhd and Tenaga Nasional Bhd (TNB) closed higher on Friday and drew the FBM KLCI closer to the 1,800 psychological-level.
At 5pm, the FBM KLCI rose by a marginal 0.6 of-a-point to 1,799.17. The market traded within a range of 6.83 points between an intra-day high of 1,802.12 and a low of 1,795.29 during the session. The index opened 2.71 points higher at 1,801.28.
Turnover stood at 1.73 billion shares valued at RM1.63bil.
However, the broader market was cautious as decliners outpaced advancers 475 to 334 while 432 counters were unchanged.\
Foreign funds continued to cut their stakes in Malaysian equities, with net selling of RM61.1mil but the selling was offset by local institutions net buying at RM26.4mil and local retailers buying at RM34.7mil.
The recovery mode of KLCI mirrored China stocks although trade remained cautious as tariff comment deadline expires. At the close, the Shanghai Composite index was up 10.71 points or 0.4% at 2,691.59.
The blue-chip CSI300 index ended 0.45% higher to 3,277.64 while the Hang Seng index ended down 1.35 points at 26,973.47.
Meanwhile, Japan’s Nikkei continued to slide into sixth session on trade worries. Reuters reported that the benchmark share average dropped 0.8% to 22,307.06, its lowest closing level sine Aug. 21.
South Korea’s KOSPI was down 6.03 points or 0.26% at 2,281.58.
Movers in the KLCI component stocks included Telekom Malaysia, which gained eight sen to RM3.19, Genting Bhd rose six sen to RM8.20 while TNB advanced four sen to RM15.80.
On Bursa Malaysia, Ajinomoto jumped 82 sen to RM21.82, Carlsberg rose 30 sen to RM19.98, UEM Edgenta jumped 21 sen to RM2.70 and Nestle advanced 20 sen to RM146.80.
Among the losers, Dutch Lady shed 40 sen to RM65.52, MPI lost 34 sen to RM12.36, Panasonic Manufacturing declined 20 sen to RM38.46 and Globetronics fell 19 sen to RM2.60.
Limited time offer:
Just RM5 per month.
