Positive close for KLCI on Maybank, Sime Plant gains

  • Markets
  • Friday, 23 Aug 2019

KUALA LUMPUR: Maybank, Sime Plantation and Tenaga Nasional led the FBM KLCI to a higher close on Friday as buying interest picked up in afternoon but overall trading was still lacklustre.

At 5pm, the KLCI was up 6.86 points or 0.43% to 1,609.33. Turnover was just 2.01 billion shares valued at RM1.74bil. There were 381 gainers, 400 losers and 397 counters unchanged.

On the external front, China stocks closed higher and posted their best week in two months, as investors hoped for progress in the US-China trade negotiations as the US still plans in-person talks next month, Reuters reported.

The blue-chip CSI300 index rose 0.7% to 3,820.86, while the Shanghai Composite Index ended 0.5% higher at 2,897.43.

Hong Kong's Hang Seng Index added 0.5%, Japan's Nikkei 225 0.4%, but South Korea's Kospi lost 0.14% and Singapore's STI 0.49%.

At Bursa, Ekovest rose four sen to 84.5 sen with 166.87 million shares done while IWCity gained eight sen to 95 sen with 6828 million units traded on speculation about the Bandar Malaysia project.

Local fund buying saw Maybank climb eight sen to RM8.64 and added 1.58 points to the KLCI, RHB Bank five sen to RM5.57, CIMB one sen to RM5.07, Public Bank two sen to RM20.82 while Ambank shed one sen to RM4.13 and Hong Leong Bank two sen lower to RM16.98.

Crude palm oil for third month delivery inched up RM4 to RM2,260 per tonne.

Sime Plantation recovered to added 10 sen to RM4.82 and nudged the index up by 1.21 points, IOI Corp gained six sen to RM4.38, KLK 18 sen to RM23.80 and PPB Group unchanged at RM18.80.

Tenaga added 10 sen to RM13.76 and added one point, Sime Darby four sen higher at RM2.14, Genting five sen to RM6.01 while GentingM edged up two sen to RM3.10.

US light crude oil fell five cents to US$55.30 and Brent lost11 cents to US$59.81.

Despite the weak oil prices, Petronas Chemical added two sen to RM7.22, Petronas Dagangan 14 sen to RM23.26 and Petronas Gas four sen to RM16 but Dialog shed one sen to RM3.48.

Profit taking saw Maxis falling 16 sen to RM5.40 and erasing 2.2 points but Axiata gained two sen to RM5 and Digi one sen to RM5.01.

MAHB shook off the negative news from the flight disruptions at the KLIA to advance eight sen to RM8.63.

China's yuan rose 0.1% against the US dollar to 7.0796.

The ringgit rose 0.04% to the greenback to 4.1905 and gained 0.16% to the euro at 4.6376 but skidded 0.59% to the pound sterling to 5.1140 and lost0.06% to the Singapore unit at 3.0217.
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