KLCI snaps losing streak, semicon, tech stocks close higher

KUALA LUMPUR: The FBM KLCI snapped the recent losing streak on Wednesday, which had been triggered by late fund selling, while semiconductor and technology related stocks were among the top gainers.

At 5pm, the KLCI was up 5.31 points or 0.34% to 1,580.62. Turnover was 5.64 billion shares valued at RM4.98bil. There were 614 gainers, 525 losers and 454 counters unchanged.

Burn-in tester KESM ended RM1.20 higher at RM17.20, MPI 88 sen to RM33.28, Amtel 53 sen to RM4.25, Frontken 44 sen to RM4.79, UWC 42 sen to RM12.96 and Genetec 41 sen to RM2.63. PMB Tech lost 20 sen to RM5.02.

Among the KLCI stocks, Bursa added 40 sen to RM9.18 on expectations of strong earnings. IHH rose 20 sen to RM5.25, Tenaga eight sen to RM9.78 while GentingM advanced eight sen to RM2.45 and Genting two sen to RM4.02.

As for telcos, Telekom added 30 sen to RM6.50, Axiata nine sen to RM3.34 and Maxis one sen to RM4.89.

Digi fell one sen to RM3.95 after it posted net profit of RM1.22bil in the financial year ended Dec 31,2020, down 14.8% from RM1.43bil a year ago.

Among the banks, CIMB added seven sen to RM3.94, Maybank five sen to RM7.87 but Public Bank fell four sen to RM4.36 and RHB Bank 13 sen to RM5.15.

As for glove makers, Top Glove edged up one sen to RM6.21 but Hartalega lost 24 sen to RM12.20, Supermax fell nine sen to RM6.56 and Kossan seven sen lower at RM4.26.

US light crude oil rose 27 cents to US$52.88 and Brent 29 cents higher at US$56.20. Petronas Chemicals added 10 sen to RM6.85, Petronas Gas four sen to RM16.14, Petronas Dagangan flat at RM19.60 while Dialog shed one sen to RM3.13.

As for plantations, KL Kepong fell 38 sen to RM23.10, Sime Plantation seven sen to RM4.89, IOI Corp flat at RM4.35 but PPB Group six sen higher at RM18.76.

Rising interest in solar energy saw Solarvest climb 40 sen to RM2.75.

Vivocom shot into the limelight again, rising 13 sen to 96.5 sen with over 100 million shares done.

Sarawak Consolidated Industries jumped 45 sen to RM2.99 with 85 million shares traded on expectations of strong workflow from construction jobs.

Lotte Chemical Titan fell 23 sen to RM2.42 after its FY20 net profit was down by 66.2% to RM148.59mil from RM439.72mil in 2019.

Euro Holdings lost 16 sen to RM3.90 and Cymao 17 sen to RM2.51.

Among the key Asian markets, Japan’s Nikkei rose 0.31%, Shanghai Composite Index 0.11% and Singapore’s Straits Times Index added 0.45% but Hong Kong’s Hang Seng Index fell 0.32% and South Korea’s Kospi 0.57% lower.

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