KUALA LUMPUR: Petronas Gas, IHH Healthcare and Public Bank closed higher on fund buying on Tuesday and drew the FBM KLCI closer to the key 1,800 level.
At 5pm, the KLCI was up 10.53 points or 0.59% to 1,798.11. Turnover was 2.52 billion shares valued at RM2.43bil.
However, the broader market was cautious as decliners outpaced advancers 549 to 378 while 397 counters were unchanged.
The optimistic outlook for the KLCI mirrored the Hong Kong stocks which rose as the yuan stabilised and investors expect Beijing to further relax its policies to counter the impact of Sino-US trade frictions. Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.69%, Reuters reported.
Oil prices held firm, with US fuel markets seen to be tightening, although the release of crude from the American strategic reserve somewhat offset an expected supply cut due to upcoming sanctions against Iran, the wire reported.
US light crude oil rose 26 cents to US$66.69 and Brent eked out a one cent gain to US$72.22.
Petronas Gas jumped 84 sen to RM19 and pushed the KLCI up 2.9 points but Petronas Chemicals fell six sen to RM9.38 and erased 0.85 of a point while Petronas Dagangan lost 26 sen to RM26.64 and wiped out 0.46 point. Dialog rose eight sen to RM3.45.
Public Bank gained 18 sen to RM24.68 and nudged the KLCI up 1.23 points, Hong Leong Bank added 16 sen to RM19.38, AmBank 14 sen to RM4, Maybank and RHB Bank three sen each to RM9.82 and RM5.10 while CIMB edged up one sen to RM5.89.
IHH gained 10 sen to RM5.62, Tenaga six sen to RM15.74, Genting Malaysia theee sen to RM5.10 but Genting Bhd
lost eight sen to RM8.62. Tenaga was up six sen to RM15.74.
As for telcos, Digi ended the day seven sen higher at RM4.70, Maxis six sen to RM5.81 and Axiata four sen to RM4.49 while Telekom lost four sen to RM3.60.
Crude palm oil for third month delivery was flat at RM2,255 per tonne.
Among the plantations, KL Kepong rose eight sen to RM24.70, IOI Corp was flat at Rm4.51 while PPB Group lost eight sen to RM16.76.
Sime Plantation rose seven sen to RM5.24 while Sime Darby and Sime Property were unchanged at RM2.60 and RM1.28.
HSS Engineers and Gabungan AQRS fell after the government cancelled the East Coast Rail Link. HSS fell 18.5 sen to 94.5 sen and AQRS was down 14 sen to RM1.23.
Eden-WB warrants, which were listed on Tuesday, closed 11 sen higher at 11.5 sen with 74.15 million units done.
The ringgit rose 0.1% against the US dollar to 4.0965. However, it fell 0.66% against the pound sterling to 5.2558 and slumped 1.02% to the euro to 4.7241 and was down 0.31% to the Singapore unit to 2.9975.
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