KUALA LUMPUR: Bursa Malaysia chalked up some mild gains on Wednesday, with Genting Bhd
and Petronas Gas taking the lead, while the ringgit was flat against the US dollar.
At 10.31am, the KLCI was up 1.81 points or 0.11% to 1,710.71.Turnover was 688.03 million shares valued at RM486.83mil. There were 369 gainers, 264 losers and 347 counters unchanged.
Reuters reported Japanese stocks rose on Wednesday morning as the dollar jumped after US Federal Reserve Chair Janet Yellen hinted at an interest rate hike next month, with financial stocks outperforming on higher yields. The Nikkei gained 1.2% to 19,459.62 in midmorning trade.
The ringgit was unchanged at 4.4480 against the US dollar.
US crude was down 0.3% at US$53.07 a barrel. Crude already came under pressure the previous day on evidence of surging US stockpiles, the wire report said.
Kenanga Investment Bank said it did not discount the possibility of the KLCI taking a healthy breather before resuming its uptrend trajectory.
“Immediate upside resistance remains capped at 1,729 (R1) followed by 1,744 (R2) next. Support levels are tied to 1,700 (S1) and 1,680 (S2),” it said.
BAT rose 50 sen to RM48.50,UMW added 16 sen to RM5.75, Petronas Gas and KESM 12 sen higher to RM20.72 and RM9.65 while Genting added 11 sen to RM8.72.
UEM Sunrise rose two sen to RM1.19 and Alam Maritim 2.5 sen in active trade. KFM rose 5.5 sen to 24 sen after it was given more time to regularise its financial condition.
HLFG fell 24 sen to RM15.26, KLK 14 sen to RM24.96 and Petron 13 sen lower at RM4.97.
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