KLCI marginally higher, Tenaga lifts

KUALA LUMPUR: Gains in Tenaga and Public Bank helped push the FBM KLCI marginally higher reflecting the slightly firmer Asian markets, as investors were still staying on the sidelines ahead of the US debt ceiling issue.

At 12.30pm, the KLCI was up 0.26 point to 1,786.01. Turnover was 792.74 million valued at RM423.29mil. There were 227 gainers, 371 decliners and 279 counters unchanged.

Reuters reported Asian shares and US stock index futures fell and the safe-haven yen rose on Monday as a possible US debt default edged closer after the failure of weekend talks in Washington, though expectations are that a last-minute compromise will be reached.

It said adding to the gloom, data showed China's export growth unexpectedly fizzled in September, underscoring worries about flagging global demand, and annual consumer inflation quickened to a seven-month high.

At Bursa Malaysia, consumer stocks were mixed with Nestle up 52 sen to RM68.32, Dutch Lady 40 sen to RM47.10 but BAT fell 62 sen to RM62.76 and Carlsberg 18 sen to RM12.52.

Among banks, Public Bank rose six sen to RM18.26, CIMB two sen to RM7.51 and AMMB two sen to RM7.48 but HLFG fell 14 sen to RM15.14, RHB Cap seven sen to RM7.56 and Hong Leong Bank six sen to RM14.24.

Crude palm oil fell RM5 to RM2,375. FGV rose five sen to RM4.30, IOI Corp four sen to RM5.39 but PPB Group fell eight sen to RM14.32.

Tenaga rose seven sen to RM9.12, Uzma eight sen to RM4.53 and Bursa eight sen to RM7.82.

Glovemakers fell with Top Glove down 14 sen to RM6.01 and Hartalega 12 sen to RM7.36.

PetDag fell 20 sen to RM29.20 and HLFG 14 sen to RM15.14

The ringgit strengthened against the dollar at 3.1772 from 3.1788 the previous close.

Among the key regional markets,

Shanghai’s Composite Index rose 0.46% to 2,238.39;

Taiwan’s Taiex fell 0.75% to 8,286.80;

South Korea’s Kospi rose 0.04% to 2,025.65;

Singapore’s Straits Times Index fell 0.75% to 3,155.72.

US light crude oil fell 16 cents to US$101.86 and Brent fell six cents to US$111.22.

Spot gold fell US$1.76 to US$1,270.45.


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