KLCI plays catch up as regional sentiment improves

  • Markets
  • Tuesday, 26 Nov 2019

KUALA LUMPUR: The FBM KLCI returned to positive performance on Tuesday after slumping in the previous session on profit-taking activity.

At the close of the morning session, the index was 2.08 points higher at 1,593.43.

Trading volume was 1.36 billion shares valued at RM835.2mil. Market breadth remained negative with 383 decliners versus 335 gainers and 346 counters unchanged.

Shares in the region were mostly positive on Tuesday after Beijing said China's vice premier Liu He held a call with his US counterparts to further trade negotiations.

The heavyweights leading the advance on the FBM KLCI were Tenaga Nasional up 14 sen to RM13.68, Maxis rising eight sen to RM5.33 and Hong Leong Bank gaining 26 sen to RM17.02.

Falling stocks included Pubic Bank down four sen to RM19.76, Digi falling two sen to RM4.58 and IHH sliding one sen to RM5.44.

Solarvest was the most actively traded stock in the morning and the leading gainer as it surged as much as 111% or 39 sen over its issue price to 74 sen. By midday, the counter was 32.5 sen higher at 67.5 sen.

Other counters seeing wide buying interest were Bumi Armada up two sen to 51 sen and Fintec up one sen to seven sen.

Oil prices kept close to their previous session close on hopes the continued talks between US and China officials will yield progress. US crude slipped two cents to US$57.99 a barrel and Brent crude slid four cents to US$63.69 a barrel.

On the forex market, the ringgit was mostly flat against key currencies including the US dollar at 4.1790, the pound sterling at 5.3884 and the Singapore dollar at 3.0602.

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