Banks, gloves boost KLCI at midday

KUALA LUMPUR: Banks and glove makers lifted the FBM KLCI at midday on Thursday while the broader market was firmer following the positive overnight close on Wall Street.

At 12.30pm, the KLCI was up 13.26 points or 0.85% to 1,569.90. Turnover was 7.23 billion shares valued at RM2.83bil. There were 635 gainers, 366 losers and 392 counters unchanged.

Key Asian markets were mixed with HongKong's Hang Seng Index down 0.12% while China;s Shanghai Composite index was unchanged but South Korea's Kospi rallied 1.84% and Singapore's STI gained 1.29%.

The ringgit dipped 0.02% against the US dollar to 4.1938.

Consumer stocks were the top gainers again with Heineken up 70 sen to RM22.20, Carlsberg 54 sen to RM23.86 and Ajinomoto 28 sen to RM15.18.

Supermax rose the most among the glove makers, up 64 sen to RM19.52 on a news report it would be included as a MSCI Global Standard Indexes constituent.

Hartalega rose 38 sen to RM16.50 and 2.03 points to the KLCI while Top Glove gained 26 sen to RM24.76 and pushed the index up 1.1 points.

As for banks, Maybank rose 14 sen to RM7.79 and added 2.46 points, Public Bank's 24 sen gain to RM17.64 added 1.45 poiunts while CIMB rose eight sen to RM3.62 and nudged the index up 1.24 points and Hong Leong Bank two sen higher at RM15.02.

Tenaga Nasional gained two sen to RM11.16, Genting five sen to RM4.02 but GentingM fell one sen to RM2.44 and IHH two sen lower at RM5.27.

US light crude oil shed five cents to US$42.62 and Brent eight sen lower at RM45.35.

Petronas Chemicals and Petronas Gas rose two sen each to RM5.92 and RM16.04 while Petronas Dagangan was unchanged at RM20.70. Dialog was flat at RM3.64.

Crude palm oil for third month delivery rose RM42 to RM2,730 per tonne. KL Kepong gained 30 sen to RM22.96, PPB Group 10 sen to RM19.02, Sime Plantation six sen to RM5.15 while IOI Corp added two sen to RM4.44. Genting Plantations lost 17 sen to RM9.91.

IJM Corp fell 11 sen to RM1.42 on the news report it would be dropped from the MSCI Global Standard Indexes constituent.

Spot gold rose US$11,24 or 0.59% to US$1,927.07 per ounce. Jewellers Poh Kong lost 10.5 sen to 99.5 sen and Tomei 10 sen to RM14.40.

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