KUALA LUMPUR: Sime Darby and Maybank pushed the FBM KLCI firmly into the positive territory at the close on Wednesday but overall investor sentiment remained cautious amid the weaker ringgit.
The firmer crude oil prices did not provide much impetus to the oil and gas counters which closed mainly in the red due to the cautious sentiment.
At 5pm, the KLCI was up 1.67 points or 0.1% to 1,662.92. Turnover was 1.63 billion shares valued at RM2.15bil. The broader market was weaker as decliners beat advancers 477 to 288 and 405 counters were unchanged.
Key Asian markets were mixed, with Japan and Hong Kong among the gainers. Hong Kong stocks posted modest gains in thin trading on Wednesday, outperforming regional markets, lifted by energy shares after an overnight surge in oil prices and helped by some short covering, Reuters reported.
Sime Darby rose 20 sen to RM7.81 and propped up the KLCI with a 2.15 point gain as investors were positive on its corporate exercise involving the new share placement that enabled it to raise RM2.35bil.
Among the financial and banks, HLFG was the top gainer, up 22 sen to RM15.74, Maybank added five sen to RM7.65 and nudged up the KLCI 1.19 points, Public Bank added four sen to RM19.92 and CIMB rose three sen to RM4.79. Hong Leong Bank advanced two sen to RM24.06 but RHB Bank lost six sen to RM4.63. AmBank lost 11 sen and slid below RM4 to end the day at RM3.98.
Crude palm oil for third-month delivery fell RM31 to RM2,569 per tonne.
Among the plantations, Far East fell 29 sen to RM7.63, Batu Kawan 12 sen lower at RM18.06 while IOI Corp shed 10 sen to RM4.42 and erased 1.1 points from the KLCI. PPB Group was flat at RM16.14 but KL Kepong added two sen to RM24.06.
US light crude oil rose 69 cents to US$49.38 and Brent added 71 cents to US$51.58. SapuraKencana added two sen to RM1.63, Petronas Dagangan shed two sen to RM23.48, Petronas Chemicals lost six sen to RM6.64 and Petronas Gas eight sen lower at RM21.76.
Perisai Petroleum was the most active with 107.97 million shares done, falling 0.5 sen to 8.5 sen on mounting worries about its financial health.
Among the heavyweights, IHH Healthcare rose five sen to RM6.50, Tenaga Nasional was flat at RM14.34 while Genting Bhd
lost eight sen to RM7.92 and Genting Malaysia seven sen down at RM4.53.
F&N was the top gainer of the day, rebounding 36 sen to RM24.10. Other consumer stocks were lower, Dutch Lady fell 94 sen to RM59.56, Nestle lost 28 sen to RM78.72 and BAT was down 16 sen to RM48.92.
UEM Edgenta rose 13 sen in active trade to RM3.50 on expectations of positive corporate developments.
Insurers LPI fell 12 sen to RM16.60 and Manulife lost 11 sen to RM2.94.
Among the key regional markets,
Japan’s Nikkei 225 rose 0.5% to 16,819.24;
Hong Kong’s Hang Seng Index shed 0.42% to 23,788.31;
Hang Seng China Enterprise added 0.56% to 9,811.18;
Taiwan’s Taiex lost 0.17% to 9,272.28;
South Korea’s Kospi shed 0.09% to 2,053.00; and
Singapore’s Straits Times Index fell 0.16% to 2,880.06.
Spot gold rose US$3.68 to US$1,272.11.
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