KUALA LUMPUR: Blue chips advanced on Monday, joining the Southeast Asian peers as investors cheered Emmanuel Macron’s victory in the French presidential election while trading volume on Bursa surged to nearly 2.5 billion shares.
At 12.30pm, the KLCI was up 2.16 points or 0.12% to 1,764.90. Turnover was 2.44 billion shares valued at RM1.11bil. There were 509 gainers, 338 losers and 356 counters unchanged.
Most Southeast Asian stock markets rose on Monday as investors breathed a sigh of relief after Macron emerged the victor, while better-than-expected Indonesian economic growth lifted the market to a record high, Reuters reported.
However, China's blue chip shares were poised for a sixth day of decline on Monday, as investor fears over tightening regulations deepened, cancelling out the impact of still-solid growth in the country's exports.
BAT was the top gainer, up 26 sen to RM45.58, Ajinomoto and Dutch Lady
22 sen higher at RM1.84 and RM59 but F&N fell 36 sen to RM24.50 on profit taking though trading volume was just 1,000 shares.
Old Town added 23 sen to RM3.13.
MPI rode the semiconductor wave, up 22 sen to RM12.72, Vitrox gained 19 sen to RM6.18 and EForce 19 sen higher at RM2.47. Success was up 18 sen to RM4.23. KESM fell 12 sen to RM12.76.
However, IW City hit limit-down, falling 92 sen to RM2.16 with 3.85 million shares done.
IWC’s shares have been under pressure after TRX City Sdn Bhd announced that the share sale agreement entered between the Government through TRX City, Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corp (M) Sdn Bhd (CREC) had lapsed.
UMW lost 11 sen to RM5.98 as investor were cautious after the proposed corporate exercise involving UMW Oil and Gas.
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