The KLCI opened up 11.23 points or 0.67% at 1,699.73. However, at 9.12am, the KLCI eased slightly with gains of 8.66 points or 0.51% to 1,697.16. Turnover was 227.18 million shares valued at RM104.57mil. There were 267 gainers, 87 losers and 248 counters unchanged.
Hong Leong Investment Bank Research said with the investors anticipating more positive policies to be made by Donald Trump, it may expect positive sentiments to persist over the near term.
“Meanwhile, buying interest may spillover to Bursa Malaysia and the FBM KLCI is likely to trend higher after the recent two-day consolidation near the 1,690 level,” it said.
Reuters reported the US dollar stood atop large gains early on Friday after soaring broadly overnight on comments by US President Donald Trump that he would announce the most ambitious tax reform plan since the Reagan era in the next few weeks.
It also reported oil prices were stable early on Friday, with OPEC-led production cuts supporting the market while soaring U.S. fuel inventories were weighing on crude.
US West Texas Intermediate (WTI) crude futures were trading at US$53.08 per barrel at 0106 GMT, up eight cents from their last settlement.
Brent crude futures, the international benchmark for oil prices, were up three cents at US$55.66 a barrel.
Maybank rose 12 sen to RM8.32, CIMB seven sen to RM5.07 while Axiata added six sen to RM5.07 also.
BAT was the top gainer, up 40 sen to RM44.84 while plantations climbed in line with the positive market sentiment as KL Kepong added 36 sen to RM25.42 and PPB Group 12 sen to RM16.42.
Hap Seng and MPI rose eight sen each to RM9.08 and RM8.73.
HLFG fell eight sen to RM14.92 with 200 shares done while UOA Development lost seven sen to RM2.43, Yen Global and MAHB shed five sen each to
RM1 and RM6.65 and IHH lost four sen to RM6.29.
Perwaja lost 2.5 sen to 7.5 sen with 1.3 million shares done.
Limited time offer:
Just RM5 per month.
