KLCI closes off day low on Sime Plant, IOI Corp's gains

  • Markets
  • Thursday, 17 Oct 2019

KUALA LUMPUR: Blue chips closed off their intra-day low on Thursday, underpinned by gains in Sime Plantation and IOI Corp as crude palm oil (CPO) prices inched up.

At 5pm, the FBM KLCI was down 0.4% or 0.03% to 1,574.50. Turnover was lower at 2.33 billion shares valued at RM1.87bil. The broader market was mixed with 393 gainers, 413 losers and 421 counters unchanged.

Key Asian markets were mostly lower with Japan's Nikkei 225 down 0.09%, China's Shanghai Composite shed 0.05%, South Korea's Kospi fell 0.23% and Singapore's Straits Times Index slipped 0.27%. However, Hong Kong's Hang Seng Index rose 0.69%.

After market close, Prime Minister Boris Johnson said Britain and the European Union had agreed a "great" new Brexit deal and urged lawmakers to approve it at the weekend, according to Reuters.

"We've got a great new deal that takes back control," Johnson said in a tweet.

"Now parliament should get Brexit done on Saturday so we can move on to other priorities like the cost of living, the NHS, violent crime and our environment."

At Bursa, MAHB fell the most, down 66 sen to RM8.04 and erasing 1.92 points from the KLCI.

US light crude oil fell 33 cents to US$53.03 and Brent was down 30 cents to US$59.12.

Petronas Gas fell 34 sen to RM16.64 and wiped out 1.18 points, Petronas Dagangan was flat at RM23.30 but Petronas Chemicals gained three sen to RM7.34. Dialog shed three sen to Rm3.44.

MISC ended down four sen to RM8.38. It issued a statement before market open that its petroleum shipping arm, AET was operating in full compliance with the US guidelines on Venezuela.

Genting fell three sen to RM5.77, GentingM and Tenaga were flat at RM3.06 and RM13.76 while IHH Healthcare gained four sen to RM5.74.

CPO for third month delivery rose RM8 to RM2,260 per tonne. Sime Plantation and IOI Corp each ended the day seven sen higher to RM4.87 and RM4.40 and adding 1.6 points to the KLCI. However, PPB Group shed two sen to RM17.94 and KL Kepong six sen lower at RM21.62.

As for telcos, Axiata and Digi added three sen each to RM4.27 and RM4.74 while Maxis shed one sen to RM5.44.

Among the banks, AmBank rose five sen to RM3.95, RHB Bank and Public Bank gained two sen each to RM5.66 and RM19.28 while Maybank and Hong Leong Bank were flat at RM8.52 and RM16.84 and CIMB shed one sen to RM4.97.

Dutch Lady fell 60 sen to RM58 while BAT's rally hit a speed bump, sliding 50 sen to RM19.70 and Nestle shed 20 sen to RM144.20.

Government e-services provider MyEG lost 15 sen to RM1.25 with 60.6 million shares done.

Burn-in chip tester KESM lost 18 sen to RM7.55 but MPI and Unisem added 10 sen each to RM10.40 and RM2.58.

The ringgit strengthened 0.39% against the US$ to 4.1785 but fell 0.2% against the pound sterling to 5.3560, lost 0.24% to the euro at 4.6406 and weakened 0.19% against the Singapore dollar to 3.0621.

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Brexit , pound sterling , crude palm oil


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