Genting Malaysia, BAT lead blue chips higher


KUALA LUMPUR: Fund buying of Genting Malaysia and BAT led the FBM KLCI to a higher close on Monday in volatile trade, ending the first trading of the third quarter on a firmer note.

 The FBM KLCI closed up 1.6 points or 0.09% to 1,775.14. Turnover was 1.10 billion shares valued at RM1.56bil. The broader market was mixed with 352 gainers, 386 losers and 257 counters unchanged.

 Bloomberg reported that Japanese shares and metals prices rose, while the yen dropped against all 16 of its main trading partners, after government policies to weaken the currency drove up manufacturers' confidence for the first time since September 2011. Asian stocks outside Japan fell after Chinese factories slowed. European stocks declined.

 At Bursa Malaysia, Genting Malaysia rose 11 sen to RM4, pushing the KLCI up 1.16 points while Petronas Dagangan gained 60 sen to RM25.80, UMW 16 sen to RM14.76, MISC rose four sen to RM5.14 and TM two sen to RM5.42.

 Banking stocks were traded higher, with Hong Leong Bank up 40 sen to RM14.30, HLFG 28 sen to RM14.74, AMMB four sen to RM7.38 and CIMB one sen higher at RM8.29. However, Affin fell 13 sen to RM4.23.

 Consumer stocks ended higher, with BAT up RM1.90 to RM61.50 while Nestle added RM1.38 to RM68.38.

 Plantation stocks perked up, adding RM7 to RM2,351. Genting Plantations rose 47 sen to RM9.70, TAHPS 34 sen to RM6.44 while PPB Group gained 12 sen to RM14.28. However, United Plantations fell 62 sen to RM27.48.

 The decliners included Time dotCom, down 22 sen to RM3.62, KPJ 20 sen to RM6.65, while SP Setia shed 11 sen to RM3.24.

 Among the key regional markets:

 Japan's Nikkei 225 1.28% to 13,852.50;

 Shanghai's Composite Index rose 0.81% to 1,995.24;

 Taiwan's Taiex fell 0.33% to 8,036.

 South Korea's Kospi fell 0.41% to 1,855.73 and

 Singapore's Straits Times Index fell 0.30% to 3,140.93.

 The ringgit softened against the US dollar to 3.1643 from the previous close of 3.1603.

 US light crude oil rose 61 cents to US$97.17 and Brent 88 cents higher at US$103.04.

 Spot gold added US$9.45 to US$1,243.97.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

   

Next In Business News

Myanmar, with US$6b in foreign reserves, is doing utmost to stabilise currency
Thailand approves US$1.64b more support measures
Edra wins bid to build 600MW power plant in Bangladesh
Malaysia's retirement scheme third in Asia
UK reveals US$13.3b of inward investment in green push
Bitcoin pushes toward record before debut of futures-based ETF
Hong Kong's new China futures create bourse history, but lag rival Singapore
Chinese property bonds firm after Kaisa and Sunac make coupon payments
CIDB hopes for funds to boost tech in construction
IOI Corp offers to buy debt notes

Others Also Read


Vouchers