Axiata and Digi underpin KLCI's advance


  • Markets
  • Friday, 17 Jan 2020

At Bursa, Axiata rose 26 sen to RM4.62 while Digi gained 12 sen to RM4.66. Bloomberg reported Malaysia’s sovereign fund and Telenor ASA have revived talks on a potential deal involving Axiata Group, just four months after the carriers scrapped negotiations on a broader merger of their Asian operations.

KUALA LUMPUR: Fund buying of Axiata and Digi helped underpin the FBM KLCI's advance at midday on Friday while most key Asian markets were upbeat about the resilence of China's economy.

At 12.30pm, the KLCI was up 5.83 points or 0.37% to 1,593.71. Turnover was 1.58 billion shares valued at RM966.19mil. There were 343 gainers and also 343 losers while 416 counters unchanged.

On the external front, China stocks rose as investors cheered more signs of resilience in the world's second-largest economy, with risk appetite also getting a boost from the signing of the US-China trade deal, Reuters reported.

The CSI 300 rose 0.09% and Shanghai Composite 0.04%. In Hong Kong, the Hang Seng index fell 0.14% and the Hong Kong China Enterprises Index shed 0.09%. Japan's Nikkei 225 rose 0.42%, Taiwan's TAIEX 0.03% but Singapore's STI fell 0.08%.

At Bursa, Axiata rose 26 sen to RM4.62 while Digi gained 12 sen to RM4.66 and Maxis added seven sen to RM5.67. Axiata's gains lifted the KLCI 3.71 points while Digi bosted the index by 1.45 points.

Bloomberg reported Malaysia’s sovereign fund and Telenor ASA have revived talks on a potential deal involving Axiata Group, just four months after the carriers scrapped negotiations on a broader merger of their Asian operations.

US light crude oil slipped two cents to US$58.50 and Brent shed three cents to US$64.59.

Petronas Dagangan rose 54 sen to RM23, Petronas Gas added four sen to RM16.54 but Petronas Chemicals lost five sen to RM7.01. Dialog lost three sen to RM3.39.

As for banks, Public Bank and RHB Bank rose two sen each to RM19.58 and RM5.83, Maybank one sen to RM8.62, AmBank three sen to RM3.93, but Hong Leong Bank lost four sen to RM16.92 and CIMB two sen to RM5.15

Crude palm oil for third month delivery was unchanged at RM2,886 per tonne. Sime Plantation and IOI Corp were up one sen to RM5.31 and RM4.62 but KL Kepong fell 10 sen to RM24.40 and PPB Group unchanged at RM18.54.

Tenaga was flat at RM12.90, Sime Darby rose four sen to RM2.26 andMISC two sen to RM8.19.

The ringgit was unchanged against the US dollar 4.0627.


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