Bursa ekes out slight gains, Public Bank, Tenaga up


  • Markets
  • Tuesday, 07 Jan 2020

KUALA LUMPUR: Bursa Malaysia managed to eke out marginal gains early Tuesday, thanks to the steadier key Asian markets, as the FBM KLCI was underpinned by Public Bank and Tenaga Nasional.

At 9.08am, the KLCI was up 1.4 points or 0.09% to 1,599.16. Turnover was 264.62 million shares valued at RM88mil. There were 186 gainers, 96 losers and 217 counters unchanged.

Reuters reported Asian shares rebounded as a day passed without a new escalation in the Middle East and Wall Street erased early losses to end in the black as tech stocks climbed.

Oil surrendered some hefty gains as many doubted Iran would strike back in a way that would disrupt supplies, and its own crude exports, it reported.

Brent crude futures stood at US$68.91 a barrel, having been as high as US$70.74 at one stage, while US crude fell 32 cents to US$62.95.

Gold held firm at US$1,563.50, after scaling a near seven-year peak of US$1,579.72 overnight.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3%, after a 0.7% drop the previous session. Japan's Nikkei edged up 0.5% and South Korea 0.6%.

At Bursa Malaysia, foreign funds were net sellers on Monday at -RM57.4mil but the selling was offset by local institutions’ net purchase at RM35.7mil and retail investors at RM21.70mil.

Public Bank rose six sen to RM19.96, Tenaga six sen to RM13.16 and IHH four sen to RM5.59.

Kejuruteraan Asastera Bhd (KAB) was the top gainer, up seven sen to RM1.29, Datasonic added six sen to RM1.50, KKB and Revenue Group five sen higher to RM1.45 and RM1.47.

Aeon Credit slumped the most, down RM1 to RM13 with 13,300 shares done.

Ideal lost 10 sen to RM1.40, MISC nine sen to RM8.38, Petronas Gas eight sen to RM16.80, RHB Bank and Petronas Chemicals five sen lower at RM5.69 and RM7.40.


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