Bursa Malaysia joined the key Asian markets recovery as they notched gains of between 0.4% and 2.25% with Dialog, telcos, glove makers and Maybank underpinning the advance.
KUALA LUMPUR: Blue chips staged a relief rally on Friday, tracking the key Asian markets, underpinned by some fund buying of oversold counters including banks and Tenaga.
At 5pm, the FBM KLCI was up 22.25 points, or 1.3%, to 1,730.74 after falling 1.54% the previous day and about 2.2% on Wednesday during a global rout due to worries about global trade and economic growth.
Turnover was 2.22 billion shares valued at RM2.49bil. There were 578 gainers, 334 losers and 351 counters unchanged.
Global shares were having their best day in nearly a month on Friday as European and Asian markets recovered from a brutal selloff that still left them set for their worst week since February, according to Reuters.
At Bursa, Maybank rose 30 sen to RM9.58 and added 5.90 points to the KLCI, CIMB added 29 sen to RM5.95 and nudged the KLCI 4.88 points, Hong Leong Bank was up20 sen to RM20.50 and Public Bank eight sen to RM23.98 while RHB Bank edged up four sen to RM5.30.
US light crude oil rose 67 cents to US$71.64 and Brent clibed 60 cents to US$80.86.
Firmer crude oil prices saw Petronas Gas jumo RM1.24 to RM18.48 and Petronas Chemical six sen to RM9.28 while Petronas Dagangan shed two sen to RM25.98. Dialog gained three sen to RM3.34.
Tenaga, which came under selling pressure over the past two days, recouped 32 sen to RM14.60, IHH Healthcare gained 18 sen to RM5.18 while Genting Bhd
rose five sen to RM7.19 but Genting Malaysia shed six sen to RM4.35.
Digi rose seven sen toRM4.46, Maxis five sen to RM5.05, Tekejom lost four sen to RM2.60 and Axiata was down 10 sen to RM3.91.
Crude palm oil for third month delivery rose RM3 to RM2,194 per tonne.
As for plantations, KL Kepong advanced 20 sen to RM24.88, PPB Group was up four sen to RM16.80 but IOI Corp shed one sen to RM4.50. Sime Plantation shed three sen to RM5.21 and Sime Darby two sen lower at RM2.58.
Among the consumer stocks, Nestle lost 90 sen to RM144.10, Ajinomoto 14 sen lower at RM21 but F&N added 40 sen to RM36.04.
The ringgit rose 0.11% against the US dollar to 4.1537. It fell 0.06% against the pound sterling to 5.4903 and lost 0.23% against the euro to 4.8129 and edged down 0.17% to the Singapore dollar at 3.0158.
Limited time offer:
Just RM5 per month.
