Tenaga, Hartalega help KLCI close shade higher


  • Markets
  • Friday, 04 Sep 2020

At 5pm, the KLCI was up 0.46 of a point of 0.03% to 1,515.86 after falling to a low of 1,501 earlier. A technical chartist said the 1,500 was a strong support level.

KUALA LUMPUR: Some buying of Tenaga Nasional and Hartalega enabled the FBM KLCI to close a shade higher in late trade amid a weaker broader market as the overnight fall on Wall Street cast a pall of gloom over key Asian markets.

At 5pm, the KLCI was up 0.46 of a point of 0.03% to 1,515.86 after falling to a low of 1,501 earlier. A technical chartist said the 1,500 was a strong support level.

Turnover was 7.04 billion shares valued at RM4.08bil. There were 388 gainers, 657 losers and 432 counters unchanged.

Power giant Tenaga rose 12 sen to RM11.16 and added 1.36 points to the KLCI.

Hartalega regained some bounce and rose 14 sen to RM14 and added 0.96 of a point while Top Glove edged up one sen to RM8.38 in volatile trade.

Supermax, whose one-for-one bonus issue went ex, fell 54 sen to RM9.60 and Kossan was 60 sen lower at RM13.40.

Except for Hong Leong Bank, which rose 14 sen to RM14.88, the other banks put up a lacklustre display.

CIMB rose one sen to RM3.26, Maybank was flat at RM7.21 while RHB Bank shed two sen to RM4.68 and Public Bank 10 sen lower at RM16.

US light crude oil rose 49 cents to US$41.86 and Brent 47 cents to US$44.54.

As for oil and gas stocks, Dialog rose three sen to RM3.71, Petronas Dagangan and Petronas Chemicals flat at RM20.66 and RM5.55 but Petronas Gas shed six eight sen to RM17.36.

Crude palm oil for third month delivery fell RM57 to RM2,834 per tonne.

As for plantations, KL Kepong fell 24 sen to RM22.56, PPB Group 16 sen to RM18.60, IOI Corp six sen to RM4.40 and Sime Plantation four sen to RM5.04. However, United Malacca rose 17 sen to RM4.87 and Ayer Hitam 15 sen to RM5.50.

The ringgit weakened 0.08% against the US dollar to 4.1475.

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