KUALA LUMPUR: Fund buying of banks especially Hong Leong Bank underpinned the FBM KLCI's stronger close on Monday while low-cost carrier AirAsia advanced to a record high.
At 5pm, the KLCI was up 4.32 points or 0.24% to 1,833.15. Turnover was 4.62 billion shares valued at RM2.86bil. The broader market was mixed with 520 gainers, 502 losers and 377 counters unchanged.
China stocks extended their rally on Monday, with the blue-chip index scaling a 31-month high, helped by gains in the defensive consumer and healthcare firms as well as a boost from tech shares, Reuters reported. Also up were Japan's Nikkei, Taiwan and Singapore.
The ringgit rallied against several major currencies. It rose 0.17% to the US dollar to 3.9320 and was up 0.33% to the pound sterling at 5.4667 and advanced 0.4% to the euro at 4.8146 and climbed 0.22% to the Singapore dollar at 2.9790.
Bitcoin was trading at US$11,789.
At Bursa Malaysia, Hong Leong Bank was the top gainer among the KLCI stocks, gaining 48 sen to RM18 and adding 1.84 points to the KLCI.
CIMB and Public Bank gained six sen each to RM6.89 and RM20.96 while AmBank added five sen to RM4.75 and RHB Bank two sen to RM5.32 while Maybank was flat at RM9.87.
As for Genting Malaysia, it rose eight sen to RM5.51 while Genting gained four sen to RM9.72.
US light crude oil rose nine cents to US$63.46 and Brent gained seven cents to US$68.68.
Among the Petronas stocks, Petrona Chemicals fell 10 sen to RM8 and erased 1.42 points from the KLCI, Petronas Gas lost 20 sen to RM18 but Petronas Dagangan added 20 sen to RM24.80. Petron fell 48 sen to RM12.72 while Hengyuan was flat at RM14.30.
AirAsia rose 24 sen to RM4.14 – a record high – and gave it a market capitalisation of RM13.83bil.
As for consumer stocks, Dutch Lady
added 92 sen to RM63, Nestle 20 sen to RM106.10, Ajinomoto 18 sen to RM20.88 but BAT fell RM1 to RM32. Heineken lost 34 sen to RM18.82.
Malaysia, the world’s second-largest palm producer, said on Monday it would work with other producing countries to voice ”strong concerns” to the World Trade Organization, following the European Union’s move to back a ban on using palm oil to make biofuels, Bernama reported.
CPO for third month delivery rose RM28 to RM2,473 per tonne. KL Kepong fell two sen to RM15.10, PPB Group was flat at RM17.36 and IOI Corp added one sen to RM4.68.
Sumatec added one sen to 11.5 sen with 565 million shares done and its warrants climbe done sen to 4.5 sen.
The latest development was Sumatec's partner CaspiOilGas LLP (COG) had inked a pre-sale gas agreement to sell gas to NIPIneftegas Consortium in Kazakhstan over 15 years.
Among the Sime companies, Sime Darby and Sime Plantation were flat RM2.80 and RM5.50 while Sime Property eked out a one sen gain to RM1.60.
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