Tenaga, Sime Darby power KLCI rebound

  • Business
  • Tuesday, 28 Jan 2014

KUALA LUMPUR: Malaysia’s FBM KLCI opened on a firmer note on Tuesday, as its mild rebound was underpinned by some fund buying of heavyweights Tenaga Nasional and Sime Darby.

At 9am, the KLCI was up 5.22 points to 1,784.10. Turnover was 13.75 million shares valued at RM9.50mil. There were 77 gainers, 56 losers and 105 counters unchanged.

However, following the weaker external sentiment and recent foreign selling pressure, BIMB Securities Research was more cautious.

It expects the local market to remain negative for the moment due to lack of fresh catalysts and continuous outflow of foreign investors. “Expect to see immediate support at 1,770 and 1,765,” it said.

Tenaga rose 14 sen to RM11.14 with 141,400 shares done. Plantation giant Sime Darby added 13 sen to RM9.10. Also up in very thin trade were Untied Plantations, adding 50 sen to RM26.50, PPB Group 28 sen to RM15.66, KL Kepong 20 sen to RM23.68.

Public Bank foreign rose 30 sen to RM19.28 while HL Bank gained 14 sen to RM14.20 but Public Bank local lost six sen to RM18.96 and CIMB shed five se to RM6.86.

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