KUALA LUMPUR: Tenaga Nasional and Public Bank underpinned the FBM KLCI’s rebound early Thursday as global markets sentiment perked up with the political turmoil in Italy easing.
At 9.15am, the KLCI was up 24.03 points or 1.4% to 1,743.31. Turnover was 272.36 million shares valued at RM195.82mil. There were 318 gainers, 125 losers and 151 counters unchanged.
Asian stocks rebounded from a two-month trough, while the euro enjoyed a respite after sinking to its lowest in 10 months as political turmoil in Italy that had roiled global financial markets showed signs of easing, Reuters reported.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.3% having slumped to its weakest since the start of April on Wednesday. South Korea's KOSPI added 0.6% and Japan's Nikkei advanced 0.5%.
Market sentiment would also be underpinned by the latest news from the world’s second largest economy. Growth in China's services industry picked up in May, an official survey showed on Thursday, as the sector extended a run of strong activity.
The official non-manufacturing Purchasing Managers' Index (PMI) rose to 54.9 from 54.8 in April, and remained well above the 50-point mark that separates growth from contraction, Reuters reported.
Fraser & Neave jumped RM2.64 to RM39.66 but Nestle fell RM2 to RM144.80, BAT lost 38 sen to RM31.62 and Heineken 12 sen lower at RM22.72.
Among the KLCI stocks, Tenaga climbed 60 sen to RM14.74 and Public Bank 26 sen higher at RM24.24. Petronas Dagangan added 58 sen to RM25.48 and Petronas Gas 26 sen to RM17.22. HLFG was up 40 sen to RM18.90.
MAHB added 41 sen to RM8.71 as it is a potential inclusions in the 30-stock FBM KLCI under the upcoming semi-annual review of FTSE Bursa Malaysia Index Series. The others are Dialog Group
and Hartalega Holdings, says CIMB Research.
Top Glove rose 30 sen to RM10.54 but Kossan fell 43 sen to RM7.38.
Maxis lost 12 sen to RM5.65 and IHH 10 sen lower at RM5.85.
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