KLCI off its day's worst, PetChem lifts

KUALA LUMPUR: Late buying of PetChem enabled the FBM KLCI to close off its day’s low on Monday despite selling pressure from plantation stocks.

Plantation index was the worst hit among Bursa Malaysia's key indices, falling 0.86% to 8,960.22

At 5pm, the KLCI was down 1.52 points or 0.08% to 1,849.21. Turnover was 1.94 billion shares valued at RM2.377bil. There were 384 gainers, 408 decliners and 315 counters unchanged.

Reuters reported Global stocks rose on Monday, as investors looked to close a shaky quarter on a positive note on expectations of growth-boosting measures from the euro zone and China offsetting a reduction in US stimulus.

Markets focused on the flash estimate of euro zone inflation in March, due at 0900 GMT and likely to cement expectations the European Central Bank will take fresh steps at Thursday's policy meeting to counter the threat of deflation.

At Bursa Malaysia, PetChem rose 10 sen to RM6.91, adding 1.11 points to the index but PetGas fell 22 sen to RM23.80.

KL Kepong fell 72 sen to RM24.20 but United Plantations rose 20 sen to RM25.10. Crude palm oil fell RM24 to RM2,631.

BAT fell RM1 to RM59.12 and Ibraco 12 sen to RM4.40.

Gainers were HLFG, up 28 sen to RM15.68 and HLInd 15 sen to RM6.47.

Tropicana rose 18 sen to RM1.57

The ringgit strengthened against the dollar at 3.2645 from 3.2723 the previous close.

Among the key regional markets,

Japan’s Nikkei 225 rose 0.9% to 14,827.83;

Hong Kong’s Hang Seng Index rose 0.39% to 22,151.06;

Shanghai’s Composite Index fell 0.41% to 2,033.31;

Taiwan’s Taiex rose 0.85% to 8,849.28;

South Korea’s Kospi rose 0.23% to 1,985.61;

Singapore’s Straits Times Index rose 0.52% to 3,188.62.

US light crude oil fell four cents to US$101.63 and Brent fell eight cents to US$107.99. 

Spot gold fell 87 cents to US$1,294.35.


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