KLCI crosses key 1,800 as banks, telcos climb

  • Markets
  • Friday, 14 Sep 2018

KUALA LUMPUR: The FBM KLCI extended its gains for the second day on Friday, underpinned by gains in banks and telcos and sent the index beyond the key 1,800 level.

At 5pm, the bellwether FBM KLCI ended the day 11.16 points, or 0.62% firmer at 1,803.76. The index opened 2.04 points lower at 1,790.56 this morning. 

Market turnover was 2.68 billion shares valued at RM2.48bil. There were 589 gainers, 302 losers and 383 counters unchanged.

Dealers said investor sentiment perked up following the firmer overnight close on Wall Street coupled with the prospects of fresh US-China trade talks.

Bursa Malaysia will be closed on Sept 17 (Monday) for the Malaysia Day Holiday.

In today’s session, 19 of 30 the component stocks rose while five fell. Movers in the KLCI component stocks included CIMB, which rose 14 sen to RM6.23, Digi gained 14 sen to RM4.78, RHB Bank advanced 15 sen to RM5.52 while Axiata added six sen to RM4.61. 

MPI, the top gainer on Bursa Malaysia rose 50 sen to RM12.80. Dutch Lady added 36 sen to RM65.50 and Padini gained 31 sen to RM6.01.

Reuters reported that oil prices rose on Friday, clawing back some territory after prices fell by the most in a month in the previous session, as the focus returned to supply concerns ahead of a November deadline for U.S. sanctions on Iranian crude.

West Texas Intermediate (WTI) crude were at US$68.79 a barrel, up 20 cents. International benchmark Brent crude oil prices were trading at US$78.26 per barrel, up eight cents.

Meanwhile, the ringgit appreciated 0.15% to 4.1382.

On the external front, Asian shares closed mostly higher with Japan’s Nikkei Stock Average rose 1.2%, the Shanghai Composite Index fell 0.18%, South Korea’s Kospi gained 1.4% and the Hang Seng Index in Hong Kong was up 1.01%.

Markets , KLCI