KUALA LUMPUR: The FBM KLCI managed to break past the key 1,700 level in intra-day trade on Wednesday – the first trading day of March – as sentiment firmed up in line with key Asian markets.
However, some profit taking towards the later part of the day saw it closing just 3.92 points or 0.23% higher at 1,697.69, boosted by gains in Axiata, CIMB and Sime Darby.
Trading volume was robust with 3.02 billion shares valued at RM2.33bil. There were 546 gainers, 360 losers and 338 counters unchanged.
On the external front, Japan's Nikkei 225 closed nearly 1.5% higher. Hong Kong shares edged higher on Wednesday, snapping a four-day losing streak, helped by better-than-expected Chinese official and private factory activity surveys.
The ringgit slipped against the US dollar but firmed up against several key currencies. It fell to 4.4480 against the US dollar from the previous close of 4.4405. It rose against the pound sterling to 5.5047 from 5.5208 and advanced against the Singapore dollar to 3.1577 from 3.1663. It edged up against the Euro to 4.6900 from 4.6998.
Consumer stocks topped the gainers' list led by Dutch Lady
, up 92 sen to RM55.50, Heineken added 34 sen to RM17.80, Nestle 32 sen to RM76.02, Carlsberg 28 sen to RM14.48 and F&N 16 sen higher at RM23.26.
Axiata rose 12 sen to RM4.55 and added 1.82 points to the KLCI, Digi three sen higher at RM5.02, Telekom rose two sen to RM6.18 while Maxis was flat at RM6.31.
Among the banks, CIMB climbed 12 sen to RM5.09 and nudged the KLCI up 1.80 points, RHB Bank gained 10 sen to RHB Bank RM4.94, AmBank three sen to RM4.66 and Maybank two sen to RM8.62 but Hong Leong Bank lost 24 sen to RM13.34.
Crude palm oil for third-month delivery rebounded RM57 to RM2,827 per tonne. Bloomberg reported that the US has no plans to change the renewable fuel standard.
It reported that the biodiesel news brought about some initial euphoria into the market, but lack of bona fide buying in the physical market and the lack of fresh demand saw prices drift lower amid technical inspired selling.
Sime Darby, which announced details about plans to list its property and plantatrions business, rose eight sen to RM9.02, PPB Group and KL Kepong added six sen to RM16.60 and RM24.20 while IOI Corp was flat at RM4.68.
US light crude oil rose 25 cents to US$54.26 and Brent gained 32 cents to US$56.83. Petronas Dagangan jumped 48 sen to RM24.98, Petronas Chemicals gained five sen to RM7.30 and Petronas Gas shed two sen to RM20.
Bumi Armada clawed up 0.5 sen to 73 sen in active trade. Yonson fell 22 sen to RM15.50.
Tong Herr and Padini rose 20 sen each to RM2.36 and RM2.99 and MPI added 15 sen to RM9.78.
Genting fell 13 sen to RM9.12 on profit taking while Genting Malaysia edged up four sen to RM5.29. Tenaga was flat at RM13.54.
At 5pm, the FBM KLCI was down points or % to. Turnover was million shares valued at. There
Among the key regional markets,
Japan’s Nikkei 225 closed up 1.44% to 19,393.54;
Hong Kong’s Hang Seng Index added 0.15% to 23,776.49;
CSI 300 added 0.16% to 3,458.44;
Shanghai’s Composite Index rose 0.16% to 3,246.93;
Hang Seng China Enterprise shed 0.1% to 10,287.98;
Taiwan’s Taiex fell 0.78% to 9,674.78 and
Singapore’s Straits Times Index rose 0.84% to 3,122.77.
Spot gold fell US$3.69 to US$1,244.75.
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