Bursa Malaysia closes on firm note

  • Markets
  • Monday, 14 Aug 2017

KUALA LUMPUR: Genting Malaysia, IHH Healthcare and Petronas Chemicals (PetChem) underpinned the FBM KLCI firm performance on Monday tracking key Asian markets.

At 5pm, the 30-stock index closed at 1,771.15, up 4.12 points. The market traded within a range of 6.19 points between an intra-day high of 1,772.56 and a low of 1,766.37 during the session. The local bourse opened 0.45 of-a-point easier at 1,766.50 this morning.

In the broader market, there were 506 stocks advancing against 316 stocks declining while 384 counters unchanged. About 1.52 billion shares, valued at RM1.69bil, changed hands.

Stock market data showed foreign funds were net buyers at RM60.28mil. Local institutions and retailers were net sellers at RM41.16mil and RM19.12mil respectively. 

On Bursa Malaysia, KESM was the top gainer, up RM1.18 to RM15, Malaysian Pacific Industry rose 36 sen to RM13.12 while Lotte Chemical Titan Holding added 34 sen to RM4.70. 

Top losers on Bursa Malaysia included United Plantations, which fell 28 sen to RM28 while Hengyuan declined 21 sen to RM7.50.

Genting Malaysia was one the mover among the KLCI stocks, pushing the index up 1.8693 points. It closed 19 higher at RM6. IHH Healthcare and PetChem added nine sen each to RM6 and RM7.11 respectively. 

Reuters reported that oil prices dipped on Monday as a slowdown in Chinese refining activity growth cast doubts over its crude demand outlook, while rising U.S. shale output suggested supplies would likely remain high.

International benchmark Brent crude oil prices were trading at US$51.92 per barrel, down 18 cents.

US West Texas Intermediate (WTI) crude was down 12 cents at US$48.70 a barrel.

Elsewhere in the region, most Asian markets were trading in green. The CSI300 index rose 1.3%, to 3,694.68, while the Shanghai Composite Index gained 0.9% to 3,237.36 points while the Hang Seng index rose 1.4% to 27,250.23 points.

The Nikkei ended 1% lower at 19,537.10, the lowest closing level since May 2. The South Korean’s KOSPI closed up 0.6% at 2,334.22 points. 

Meanwhile, European shares enjoyed a relief rally on Monday after geopolitical tension had sent them to their worst weekly losses of the year.

The pan-European STOXX 600 rose 0.7% while euro zone stocks and blue-chips jumped 0.9%. London’s FTSE 100 rose 0.51% to 7,347.43 points, France’s CAC 40 gained 0.85% to 5,104.01 while Germany’s DAX climbed 1.02% to 12,136.47.

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