KUALA LUMPUR: Higher crude oil prices helped the FBM KLCI notch some solid gains at midday on Monday with Petronas linked stocks among the top winners while the ringgit gained strength against several major currencies.
At 12.30pm, the KLCI was up 16.09 points or 0.88% to 1,854.37. Turnover was 1.36 billion shares valued at RM885.42bil. There were 673 gainers, 158 losers and 304 counters unchanged.
The ringgit rose 0.15% against the US dollar to 3.8883 and climbed 0.78% to the pound sterling while it jumped 1.11% versus the euro to 4.8273. It climbed 0.55% to the Singapore dollar at 2.9631.
Shares in Singapore and the Philippines rose 1% on Monday, led by financials, as equity markets in the region followed a global recovery after recent volatility that stemmed from concerns over rising inflation, Reuters reported. Asia shares ex-Japan rose 0.5%.
US light crude oil rose 83 cents to US$62.51 and Brent gained 58 cents to US$65.42.
At Bursa, refiners Hengyuan and Petron were among the top gainers. Hengyuan rose RM1.14 to RM14.18 and Petron added 74 sen to RM11.72.
Petronas Gas gained 64 sen to RM18.14 and pushed the KLCI up 2.09 points, Petronas Dagangan six sen to RM25.18 and Petronas Chemicals three sen higher at RM8.13.
CIMB climbed eight sen to RM7.09 and nudged the KLCI up 1.22 points, HL Bank gained 26 sen to RM18.48, Public Bank 14 sen to RM21.98, RHB Bank eight sen to RM5.29 and Maybank rose four sen to RM10.14.
Among the heavyweights, Tenaga rose two sen to RM15.72, Genting Bhd
gained 18 sen to RM9.19 and Genting Malaysia eight senb higher at RM5.46.
As for consumer stocks, Nestle scaled fresh highs, up RM1.10 to RM120.50, Dutch Lady RM1.04 to RM65 and Carlsberg 62 sen higher at RM17.78.
Crude palm oil for third month delivery fell RM10 to RM2,496 per tonne. KL Kepong rose 46 sen to RM25.36, PPB Group added six sen to RM17.56, IOI Corp two sen to RM4.73.
Sime Plantation and Sime Darby rose four sen each to RM2.71 and RM2.71 while Sime Property eked out a one sen gain to RM1.45.
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