KUALA LUMPUR: The FBM KLCI narrowed its gains at midday on Wednesday as investors locked in gains after two straight days of gains but the broader market was firmer with interest seen in Petronas-related stocks and plantations.
At 12.30pm, the KLCI was up 2.81 points to 1,767.76, off the earlier high of 1,776. Turnover was 1.19 billion shares valued at RM1.008bil. There were 382 gainers, 267 decliners and 290 counters unchanged.
Reuters reported Asian stocks rose on Wednesday, on track to post their 10th straight day of gains, while investors gave the safe-haven yen a wide berth as optimism for the Chinese economy grew and worries about US military strikes on Syria receded.
Tokyo's Nikkei put on 0.5%, reaching highs not seen since late July. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.2%, amassing gains of nearly 3% so far this week. It has surged more than 8% in two short weeks.
At Bursa Malaysia, Aeon rose 26 sen to RM14.62 and Aeon Credit 46 sen to RM16.80.
Among banks and finance stocks, HLFG rose 10 sen to RM14.90, Hong Leong Bank eight sen to RM14.18, Public Bank six sen to RM17.82 but CIMB fell one sen to RM7.52 and AMMB one sen to RM7.60.
Among Petronas stocks, PetDag rose 20 sen to RM28.30, PetChem six sen to RM6.76 but PetGas fell two sen to RM21.28.
Crude palm oil rose RM5 to RM2,356. PPB Group rose 18 sen to RM14.26, Sime Darby four sen to RM9.52, FGV four sen to RM4.24 but KL Kepong fell 12 sen to RM22.18.
Pharmaniaga rose 19 sen to RM4.70, Khind 16 sen to RM2.30 and DSonic 15 sen to RM3.60. Uzma was up 15 sen to RM4.45.
Among the key regional markets,
Japan’s Nikkei 225 rose 0.82% to 14,542.20;
Hong Kong’s Hang Seng Index fell 0.13% to 22,947.75;
Shanghai’s Composite Index rose 0.63% to 2,252.04;
Taiwan’s Taiex fell 0.69% to 8,152.49;
South Korea’s Kospi was flat at 1,994.07;
Singapore’s Straits Times Index fell 0.27% to 3,115.30.
US light crude oil fell 39 cents to US$107 and Brent rose 20 cents to US$111.45.
Spot gold fell 66 cents to US$1,363.21.