PChem, YTL drive KLCI higher

KUALA LUMPUR: The FBM KLCI extended its gains and ended Tuesday on a firmer note supported by continuous buying of PChem and YTL, despite a heavy outflow of foreign funds.

At 5pm, the KLCI rose 7.75 points or 0.43% to 1,815.34. Turnover was 1.59 billion valued at RM1.847bil. There were 419 gainers, 357 decliners and 314 counters unchanged.

Reuters reported Asian markets sprang higher on Tuesday as Japanese stocks rebounded and Chinese money rates eased, while the US dollar got a fillip from a report the Federal Reserve would again trim its bond buying next week.

A drop in the yen helped Tokyo's Nikkei rally 1.5% and dragged up markets from Seoul to Singapore. MSCI's broadest index of Asia-Pacific shares outside Japan swung round to be 0.5% firmer.

At Bursa Malaysia, PChem rose nine sen to RM6.72 and YTL six sen to RM1.58, contributing 1.31 points and 1.17 points to the index.

HLCap rose 50 sen to RM14 and HLFG 24 sen to RM15.40.

Decliners were PetDag, down 14 sen to RM30.38 and Puncak Niaga nine sen to RM3.01.

DKSH fell nine sen to RM7.25 and Hup Seng nine sen to RM6.85.

Crude palm oil fell RM8 to RM2,571.

The ringgit weakened against the dollar at 3.3255 from 3.3174 against the previous close.

Among the key regional markets,

Japan’s Nikkei 225 rose 0.99% to 15,795.96;

Hong Kong’s Hang Seng Index rose 0.45% to 23,033.12;

Shanghai’s Composite Index rose 0.86% to 2,008.31;

Taiwan’s Taiex fell 0.25% to 8.599.90;

South Korea’s Kospi rose 0.525 to 1,963.89;

Singapore’s Straits Times Index rose 0.18% to 3,134.49.

US light crude oil fell 20 cents to US$94.17 and Brent rose 60 cents to US$106.95.

Spot gold fell US$5.02 to US$1,249.33





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