KUALA LUMPUR: Fund buying of Tenaga Nasional, Petronas Gas and plantations powered the FBM KLCI’s firm rebound in late Thursday morning trade, in tandem with the firm key Asian markets.
At 11am, the KLCI was up 12.75 points or 0.75% to 1,721.93. Turnover was 565.68 million shares valued at RM412.46mil. There were 423 gainers, 142 losers and 216 counters unchanged.
Hopes that the European Central Bank will embark upon bolder stimulus after data showing the euro zone had slipped into deflation also shored up risk assets, hit this week by concerns over tumbling oil prices and global economic weakness, the report said. Tokyo's Nikkei outperformed its regional peers and gained 1.7%.
Among the plantations, United Plantations added 32 sen to RM24.14 in thin trade, KL Kepong and Genting Plantations advanced 16 sen each to RM21.90 and RM10.16 following a rebound in crude palm oil prices.