KUALA LUMPUR: Genting Bhd
and Sime Darby Plantation shored up the FBM KLCI on Thursday after a hesitant start amid a cautious broader market while low-cost carrier AirAsia soared to a fresh record high.
At 5pm, the KLCI was up 4.66 points or 0.25% to 1,860.86. Turnover was 3.39 billion shares valued at RM2.50bil. There were 361 gainers, 648 losers and 390 counters unchanged.
Stock market data showed foreign funds were net sellers at RM24.2mil and local retailers at RM6.6mil. The selling was matched by net buying by local institutions at RM30.8mil.
The ringgit wilted against a resurgent US dollar, down 0.29% to 3.9285 and shed 0.01% to the Singapore dollar to 2.9610.
However, the local currency rose 0.84% to the pound sterling at 5.4038 and edged up 0.06% to the euro at 4.7865.
On the external front, Japan's Nikkei share average closed at a near two-week low on Thursday as sentiment was hit by a rout in Wall Street overnight, while the euro's weakness against the yen hit companies such as precision machinery makers, Reuters reported. The Nikkei ended up 1.6%.
China stocks recouped earlier losses to end higher on Thursday, after a private survey showed the country's factory growth rose to a six-month high in February. The Shanghai Composite Index closed up 0.4% and the CSI300 index gained 0.6%.
At Bursa Malaysia, AirAsia jumped to a record high of RM4.60, up 22 sen in active trade. as Investors chased the stock in anticipation of dividends from the sale of its aircraft leasing operations for RM4.62bil.
Genting rose 27 sen to RM9.12 and pushed the KLCI up 1.86 points while Genting Malaysia gained four sen to RM5.31 and IHH Healthcare added nine sen to RM6. Tenaga was flat at RM15.70.
Sime Plantations rebounded 15 sen to RM5.50 and pushed the KLCI up 1.82 points while Sime Property up two sen to RM1.43 while Sime Darby shed one sen to RM2.75.
Crude palm oil for third month delivery fell RM5 to RM2,554 per tonne. PPB Group rose 36 sen to RM18.06, KL Kepong 26 sen to RM25.30 and IOI Corp three sen to RM4.72.
As for banks, CIMB rose eight sen to RM7.27, Public Bank was flat at RM23, RHB Bank shed one sen to 5.37, Maybank lost two sen to RM10.44 and AmBank six sen to RM4.08, extending the losses for the second day.
Hong Leong Bank, which shares had surged in recent days, came under some profit takig and emerged as the top loser, down 52 sen to RM19.50.
Aeon Credit put up a strong performance, up 38 sen to RM13.68.
Carlsberg led the consumer stocks up 30 sen to RM18.78, Dutch Lady 26 sen to RM66.86 but Nestle slumped RM5 to RM123.10 and BAT 62 sen lower at RM27.78.
Glove makers were mixed, Top Glove rose 24 sen to RM9.95 but Hartalega lost 26 sen to RM11.42.
HB Global surged 20 sen to 28 sen and it was the most active with 268 million shares done after posting profit of RM12.13mil in the fourth quarter ended Dec 31, 2017 and RM14mil for FY17.
HB Global said the company, together with its advisers, were still in the midst of formulating a regularisation plan to address its PN17 status.
The company is involved in the ready-to-serve duck meat products.
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