Late push puts KLCI in positive territory

  • Markets
  • Friday, 08 Nov 2019

KUALA LUMPUR: The FBM KLCI eked out a marginal gain at Friday's close after spending much of the day in the red.

Profit-taking had send the market lower, especially after reports that the US may not be ready to commit to a suspension of trade tariffs. A Chinese spokesperson had yesterday said both parties would be rolling back some of the said taxes.

At 5pm, the FBM KLCI was up 0.4 points to 1,609.73. Trading volume was 3.1 billion shares valued at RM2.15bil. There were 419 gainers versus 412 decliners and 449 counters unchanged.

For the week, the index ended the week 16.39 points or 1% higher over the previous Friday, at 1,609.73.

Total turnover for the trading week stood at 13.61 billion shares amounting to RM9.88bil compared with 10.31 billion shares worth RM7.95bil over the previous four-day trading week.

On Friday, stocks that led the index higher included CIMB up 10 sen to RM5.40, Maybank climbing eight sen to RM8.83 and Axiata rising seven sen to RM4.37.

On the other end, Maxis lost eight sen to RM5.40, Petronas Gas dipped 28 sen to RM16.32 and Tenaga dipped eight sen to RM13.84.

Most active counters on Bursa Malaysia were SAPURA ENERGY up 2.5 sen to 29.5 sen, Trive unchanged at 1.5 sen and Netx unchanged at two sen.

Crude oil futures slipped on Friday as traders fretted over a timeline for an end to the US-China trade dispute even as US inventories continued to rise.

US crude was down 75 cents to US$56.68 a barrel and Brent crude fell 37 cents to US$61.92 a barrel.

In currencies, the ringgit was down 0.3% against the US dollar to 4.1345, 0.3% against the pound sterling to 5.2963 and 0.15% against the Singapore dollar to 3.0410.
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