KLCI extends rebound on the back of global recovery

  • Markets
  • Tuesday, 13 Feb 2018

KUALA LUMPUR: Regional stocks were lifted following Wall Street's extended rebound overnight, giving a positive lead to Bursa Malaysia's Tuesday session.

At 12.30pm, the FBM KLCI was up 2.11 points to 1,832.26 points. Trading volume remained muted in the lead-up to the Chinese New Year holidays, with 741.83 million shares worth a value of RM853.91mil exchanging hands.

Genting led the index higher, rising 13 sen to RM8.93. Hong Leong Bank rose 20 sen to RM18.16, Genting Malaysia gained four sen to RM5.29 and Public Bank added eight sen to RM22.02.

Plantations counters included IOI gaining one sen to RM4.69, KL Kepong adding two sen to RM25.26, Sime Darby Plantation adding two sen to RM5.59 and PPB, which was unchanged at RM17.50.

Among decliners, Petronas Gas slipped eight sen to RM17.68, IHH Healthcare fell one sen to RM5.98 and Tenaga Nasional slid two sen to RM15.74.

On the wider market, Hartalega rose 18 sen to RM11.24, Ann Joo gained 16 sen to RM2.57 and Time gained 16 sen to RM8.48.

MAHB dropped 43 sen following its earnings results yesterday, while Tasek fell 27 sen to RM9.15 and KOssan slid 10 sen to RM8.40.

Meanwhile, oil prices rose in tandem with the rebound in global stock markets. WTI crude gained 35 cents to US$59.64 a barrel while Brent crude rose 42 cents to US$63.01 a barrel.

In currencies, the ringgit continued to firm up against the US dollar, strengthening 0.15% to 3.9327. It also strengthened 0.26% against the pound sterling to 5.4428 but weakened 0.1% against the Singapore dollar at 2.9726.