KLCI chalks up mild gains as Tenaga, PetChem advance

KUALA LUMPUR: Tenaga Nasional, Petronas Chemicals and KL Kepong gave the FBM KLCI a boost at midday on Thursday amid a firmer ringgit while key Asian markets were mixed.

At 12.30pm, the FBM KLCI was up 3.21 points or 0.18% to 1,806.23. Turnover was 825.33 million shares valued at RM753.93mil. Gainers led losers 345 to 294 to 317 counters were unchanged.

The ringgit firmed up against the US dollar at 3.5725 from the previous close of 3.5968.

Crude palm oil for third-month delivery fell RM24 to RM2,174 but plantation stocks were mixed. KL Kepong was the biggest gainer among the plantations, up 72 sen to RM22.06 and FGV gained two sen to RM2.10 but PPB Group lost 12 sen to RM15.50 and IOI Corp shed two sen to RM4.28.

Tenaga rose six sen to RM13.86 in active trade following a positive outlook from analysts.

Only World Group rose 15 sen to RM2.81 after it told Bursa Malaysia Securities that it was in early talks about possible business deals.

US light crude oil fell 12 cents to US$60.38 and Brent 11 cents lower at US$66.70.

Petronas Chemicals rose 12 sen to RM6.11 and Petronas Gas two sen to RM21.94 but Petronas Dagangan fell 18 sen to RM19.80. SK Petro fell five sen to RM2.69.

Among the glove makers, Hartalega advanced 18 sen to RM7.89. Chip-related KESM rose 39 sen to RM3.44.

Among the banks, CIMB added six sen to RM5.95, Maybank rose three sen to RM9.29 while Public Bank was flat at RM19.18.

Among the key regional markets,

Japan’s Nikkei 225 fell 0.93% to 19,580.78;

Hong Kong’s Hang Seng Index rose 0.3% to 27,330.69;

Shanghai’s Composite Index rose 0.26%to 4,387.32;

Taiwan’s Taiex fell 1.14% to 9,613.37;

South Korea’s Kospi rose 0.12% to 2,116.65

Singapore’s Straits Times Index fell 0.07% to 3,450.79.

Spot gold fell US$1.58 to US$1,214.17.

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