KLCI snaps 3-days of losses, up 10.4pts (Update)


KUALA LUMPUR: Malaysia's blue chips closed higher on Tuesday, snapping three-days of losses, as funds were seen picking up plantations especially IOI Corp, and BAT amid a firmer broader market.

At 5pm, the FBM KLCI was up 10.41 points or 0.59% to 1,776.74. Turnover was 2.10 billion shares valued at RM2.21bil. There were 496 gainers, 377 losers and 248 counters unchanged.

Japan's markets rebounded after the recent slide, but most key regional bourses fell.

The US dollar and world shares recovered from their lowest levels in a month and German Bund futures eased, after weak U.S. data calmed concerns of an early cut in central bank stimulus, Reuters reported.

At Bursa Malaysia, plantations were among the gainers despite that crude palm oil fell RM19 to RM2,377.

IOI Corp rose 16 sen to RM5.29 and push the KLCI up 2.15 points.Genting Plantations rose 60 sen to RM9.30, KL Kepong 42 sen to RM21.62, PPB Group 26 sen to RM13.72 and Batu Kawan 20 sen to RM19.20. However, TH Plantations fell eight sen to RM1.77.

Among consumer stocks BAT was the top gainer, up 78 sen to RM64.78 as investors' viewed its price hike as positive. GAB and Carlsberg also recovered, rising 24 sen each to RM21.52 and RM16.82.

PetChem inched up nine sen to RM6.73, giving the KLCI a 0.93 of a point boost.

But Tenaga weighed on blue chips, down five sen to RM8.32, erasing 0.63 of a point from the KLCI 0.63 point after Khazanah Nasional Bhdsold 50 million shares worth RM412mil.

Among the banks, Hong Leong Bank rose 18 sen to RM 14, AFG 11 sen to RM5.17, RHB Cap five sen to RM8.72 but HLFG fell 14 sen to RM14.72 and AMMB fell 2 sen to RM7.39.

Panasonic fell 76 sen to RM25.90 and Aeon Credit dropped 18 sen to RM17.16.

The ringgit strengthened to 3.0936 against the US dollar from the previous close of 3.0995.

Among the key regional markets:

Japan's Nikkei 225 rose 2.05% to 13,533.76;

Hong Kong's Hang Seng Index rose 3.33% to 22,285.52;

Shanghai's Composite Index fell 26.5% to 2,272.42;

Taiwan's Taiex fell 0.12% to 8,191.22;

South Korea's Kospi was unchanged at 1,989.51; and

Singapore's Straits Times Index fell 0.10% at 3,287.83.

US light crude oil fell 57 cents to US$92.88 while Brent declined 31 cents to US$101.75.

Spot gold fell US$5.15 to US$1,406.20.

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