KLCI snaps three-day losing streak on bargain hunting


KUALA LUMPUR: The FBM KLCI snapped its three-day losing streak to end higher Friday on bargain hunting.

The benchmark index closed up 9.09 points, or 0.58% to 1,584.93. The index opened 4.34 points higher at 1,580.18

A total of 14.36 billion shares valued at RM6.36bil changed hands. On the broader market, losers outnumbered gainers by 653 to 581, while 411 counters traded unchanged.

Dealers said market sentiment remained cautious while bargain hunting activities have emerged following recent losses.

At Bursa Malaysia, MPI jumped RM1.50 to RM38.40, Carlsberg added 88 sen to RM23.38, Vitrox rose 60 sen to RM17.80 and Nestle advanced 60 sen to RM35.50.

Hong Leong Bank shed 34 sen to RM17.78, Hartalega fell 32 sen to RM12.06 and Hengyuan declined 32 sen to RM12.06.

Maybank added 10 sen to RM8.03, Tenaga rose three sen to RM9.88, Public Bank gained two sen to RM4.13, KLK added 48 sen to RM23.30 and MISC advanced 19 sen to RM6.59.

Meanwhile, the ringgit is down 0.07% against the US dollar at 4.0455.

It also fell 0.58% against the pound sterling at 5.6578, 0.54% against the euro at 4.9062 and 0.27% against the Singapore dollar at 3.0548.

Brent crude was last traded at US$62.97 per barrel while US crude traded at US$59.39 per barrel.

Among the key regional markets:

Japan’s Nikkei 225 is down 0.72% to 30,017.92;

Hong Kong’s Hang Seng Index is up 0.16% to 30,644.73;

Shanghai Composite Index rose 0.57% to 3,696.17;

Taiwan’s Taiex fell 0.51% to 16,341.38;

South Korea’s Kospi rose 0.68% to 3,107.62 and;

Singapore’s Straits Times Index fell 0.97% to 2,880.64 points.

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