Axiata and Tenaga underpin KLCI's advance at midday

  • Markets
  • Tuesday, 12 Nov 2019

market report up

KUALA LUMPUR: Axiata and Tenaga Nasional helped shore up the FBM KLCI at midday on Tuesday as sentiment perked up slightly, tracking the key Asian markets as concerns about the US-China trade tensions and violence in Hong Kong abated.

At 12.30pm, the KLCI was up 2.83 points or 0.18% to 1,610.98. Turnover was 1.34 billion shares valued at RM729.96mil. The broader market was mixed with 345 gainers, 333 losers and 388 counters unchanged.

Key Asina markets inched higher except China's Shanghai Composite which fell 0.44%. Japan's Nikkei 225 advanced 0.12%, Hong Kong's Hang Seng Index gained 0.08%, South Korea's Kospi 0.18% and Singapore's STI added 0.31%.

The ringgit rose 0.01% against the US dollar to 4.1438.

Cycle Carriage Bintang hit limit-up, 38 sen to RM1.67 after the major shareholder offer to take it private under a proposed SCR at RM2.20 per share.

Trading interest was seen in Axiata which jumped 17 sen to RM4.50 and added 2.41 points to the KLCI, Maxis added one sen to to RM5.42 and Digi unchanged at RM4.69.

Tenaga added 12 sen to RM13.92 and lifted the KLCI by 1.06 points, MISC added three sen to RM8.29.

Crude palm oil for third month delivery shed RM1 to RM2,626 per tonne after hitting a two-year peak in intra-day trade on Monday.

KL Kepong rose 16 sen to RM22.36, Sime Plantation five sen to RM5.03, IOI Corp four sen to RM4.44 but PPB Group shed two sen to RM18.08.

Among the banks, RHB Bank rose eight sen to RM5.77, Public Bank was flat at RM20, Hong Leong Bank lost 14 sen to RM17.06, Maybank fell seven sen to RM8.78 while CIMB shed four sen to RM5.32.

US light crude oil inched up three cents to US$56.89 and Brent gained six cents to US$62.24.

Dialog added four sen to RM3.47 after its strong earnings in the first quarter ended Sept 30.Petronas Gas added six sen to RM16.46, Petronas Dagangan lost six sen to RM23.90 and Petronas Chemical shed one sen to RM7.70.

SAPURA ENERGY added 0.5 sen to 29.5 sen and it was the most active with 135 million shares done and Bumi Armada gained 1.5 sen to 49.5 sen.

AIRASIA X rose one sen to 17.5 sen in active trade after the carrier inked a profit-sharing agreement with AIRASIA Group Bhd.

However, MAHB lost 16 sen to RM8.19. Maybank Investment Bank Research is maintaining its negative outlook on the aviation sector after the US Federal Aviation Administration (FAA) downgraded Malaysia to Category 2 on safety concerns.

Among the consumer stocks, Nestle rose 50 sen to RM145.40, Heineken 28 sen to RM25.78 but F&N lost 32 sen to RM34.68.

Tech and semicon related stocks KESM and Vitrox lost 10 sen each to RM8.15 and RM7.80.

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