KLCI starts new week on firm note, Petronas stocks lead

KUALA LUMPUR: Petronas-linked stocks enabled the FBM KLCI to start the new week on Monday on a firm note.

At 9.16am, the KLCI was up 3.63 points or 0.21% to 1,710.01. Turnover was 145.26 million shares valued at RM80.29mil. There were 173 gainers, 134 losers and 174 counters unchanged.

Petronas Dagangan rose the most, up 60 sen to RM27.50 while Petronas Chemicals gained 18 sen to RM9.58 in active trade.

Affin Hwang Capital Research maintained its Buy call and raised its 12-month target price to to RM10.30 (from RM10), based on unchanged 17 times price-to-earnings ratio (PER) on higher FY19E EPS.

Kossan rose 20 sen to RM4.50. CIMB Equities Research upgraded Kossan from Hold to Add  with a higher target price of  RM5.16 from RM4.34.

Among the semicon-related stocks, MPI rose 26 sen to RM12.30 and KESM 16 sen to RM10.92.

Apex Healthcare continued to attract some interest, climbing 13 sen to RM8.66, CMSB and KL Kepong 12 sen each to RM3.40 and RM24.98.

BAT fell the most, down 22 sen to RM38.08, APM 10 sen to RM3.10, MAHB nine sen to RM8.07 and Tenaga Nasional eight sen to RM14.82.