KUALA LUMPUR: IHH Healthcare, CIMB and Digi powered the FBM KLCI comfortably above the key 1,600 level on Monday but G3 Global, which had surged in recent weeks, hit limit-down.
At 5pm, the KLCI was up 9.61 points or 0.6% to 1,604.36 – which was the day's high. It's intra-day low was 1,592.
Turnover was 2.34 billion shares valued at RM1.42bil. There were 392 gainers, 414 losers and 409 counters unchanged.
Among the key Asian markets, Hong Kong's Hang Seng Index jumped 1.35%, following steep losses the previous week, as lacklustre economic data stoked hopes of fresh stimulus measures to revive flagging growth in the Asian financial hub, Reuters reported.
Singapore's Straits Times Index gained 0.61%, Shanghai Composite Index 0.62% while Japan's Nikkei 225 ended 0.49% higher.
At Bursa, IHH rallied for the second day after the Indian Supreme Court refused to lift the block on completion of the takeover of embattled hospital chain Fortis Healthcare Ltd.
While investors cheered the delay, IHH said it remains committed to the takeover of Fortis. The share price rose 21 sen toRM5.56 and added 3.25 points to the KLCI.
CIMB added 13 sen to RM5.35 on fund buying, adding 2.28 points to the KLCI. However other banking stocks floundered, with Hong Leong Bank down 20 sen to RM16.80, Public Bank two sen lower at RM19.88, AmBank dipped one sen to RM4.19 while Maybank was flat at RM8.66 while RHB Bank inched up one sen to RM5.79.
Digi advanced 15 sen to RM4.73, Axiata 10 sen to RM4.37 while Maxis shed two sen to RM5.35.
US light crude oil rose 13 cents to US%57.85 and Brent inched up six cents to US$63.36.
Petronas Dagangan jumped 54 sen to RM24.30, Petronas Gas 24 sen to RM16.68 but Petronas Chemicals lost eight sen to RM7.36 and erased 1.13 points.
Crude palm oil for third month rose to to two-year peaks of RM2,636. It ended RM11 to RM2,596.
PPB Group rose 24 sen to RM18.26, KL Kepong 24 sen to RM22.54, Sime Plantation and IOI Corp two sen each to RM5.13 and RM4.42.
As for consumer stocks, Nestle rose 40 sen to RM144.10 but BAT lost 50 sen to RM16.50 and Dutch Lady 28 sen to RM57.60.
Master Pack attracted strong interest, surging 21 sen to RM5.56.
However, G3 Global – formerly Yen Global – plunged 96 sen to end at RM2.57. It hit limit down to RM2.48 with 1.62 million shares done in late trade while its warrants tumbled 25.5% or 86 sen to RM2.51.
In April this year, G3 Global had inked an agreement with China’s SenseTime Group Ltd and China Harbour Engineering Co Ltd to develop the AI park, with a total investment of US$500mil (RM2.09bil).
The ringgit weakened against the US dollar, down 0.08% to 4.1560.
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