KUALA LUMPUR: Blue chips closed higher on Tuesday, underpinned by a rebound in Petronas Chemicals, Tenaga Nasional and Maybank as sentiment perked up following a firmer China market.
At 5pm, the FBM KLCI was up 8.68 points or 0.56% to 1,551.48. Turnover was 2.77 billion shares valued at RM2.26bil. There were 462 gainers, 372 losers and 367 counters unchanged.
The ringgit rose against several key currencies including the greenback while crude oil prices staged a mild recovery. However, crude palm oil prices fell.
China shares closed higher for a sixth straight session as a fall in new cases of the coronavirus in China lifted investor sentiment. The Shanghai Composite index closed 0.4% higher at 2,901.67. The blue-chip CSI300 index gained 0.9%, Reuters reported.
Hong Kong's Hang Seng Index climbed 1.26%, Taiwan's Taiex 0.78%, South Korea's Kospi 1% and Singapore's Straits Times Index 0.39%.
US light crude oil rose 68 cents to US$50.25 and Brent 77 cents higher at US$54.04.
Petronas Chemicals rose 27 sen to RM6.66 and powered the KLCI 3.84 points higher while Petronas Gas gained 12 sen to RM16.24 and Petronas Dagangan added six sen to RM22.46 while Dialog was flat at RM3.36.
Among the banks, Maybank rose six sen to RM8.54 and added 1.2 points to the KLCI, AmBank added four sen to RM3.87, RHB Bank and Public Bank two sen each to RM5.72 and RM18.30 but HL Bank shed two sen to RM16.14. HFG was unchanged at RM16.38.
Tenaga rose 14 sen to RM12.64 and gave the KLCI a 1.41 point boost, Genting and GentingM added four sen to RM5.39 and RM3.01 and Sime Darby four sen to RM2.20 but MISC shed five sen to RM8.02 and IHH seven sen lower at RM5.70.
Consumer stocks were mostly higher, with Carlsberg the top performer, rising 78 sen to RM33.68, Heineken 44 sen to RM27.94, Ajinomoto 26 sen to RM14.24 but F&N lost 12 sen to RM33.38.
Kumpulan Powernet surged 25 sen to RM2.17 after announcing it had accepted a RM65.87mil contract to design and build an 8MW hydropower plant in the Vientiane province in Laos.
Cycle & Carriage Bintang fell four sen to RM1.58 after the major shareholder's proposed privatisation exercise via a special capital repayment of RM2.20 a share fell through.
MY EG chalked up solid gains, rising 17 sen to RM1.33.
KESM gained 28 sen to RM10.18, SAM Engineering 28 sen to RM8.06 while MPI lost 18 sen to RM11.40.
AIRASIA lost three sen to RM1.23 and AXX unchanged at 12.5 sen after their independent committees appointed independent experts to assist in a review relating to allegations of corruption against its top executives.
CPO for third month delivery fell RM52 to RM2,702 per tonne.
KL Kepong rose 12 sen to RM23.70, Sime Plantation four sen to RM5.21, IOI Corp three sen to RM4.54 and PPB Group two sen to RM18.70.
On the forex front, the ringgit rose 0.32% against the US dollar to 4.1337; climbed 0.19% versus the pound sterling to 5.3366 and rebounded 0.64% to the euro at 4.5127. Against the Singapore unit, it strengthened 0.21% to 2.9806.
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