KLCI closes higher on gains by Maybank, Maxis


KUALA LUMPUR: The FBM KLCI closed higher on Monday, underpinned by gains in Maybank, Maxis and CIMB amid a firmer broader market while crude palm oil surged to a fresh high since 2008.

At 5pm, the FBM KLCI was up 5.23 points or 0.32% to 1,620.92. Turnover was 10.29 billion shares valued at RM5.21bil. There were 611 gainers, 586 losers and 406 counters unchanged.

The ringgit rose 0.07% to 4.1155 against the US dollar.

Among the key Asian markets, Japan's Nikkei 225 rose 0.17%, Hang Seng Index 0.33% and Singapore's Straits Times Index 0.35% higher. However, China's Shanghai Composite fell 0.96%, Taiwan's Taiex 0.04% and South Korea's Kospi 0.28% lower.

At Bursa, Maybank ended the day eight sen higher at RM8.48 and added 1.41 points to the KLCI, CIMB six sen to RM4.53 and nudged the index by 0.92 of a point, Hong Leong Bank advanced 20 sen to RM19.22 while Public Bank was flat at RM4.32. RHB Bank shed four sen to RM5.47.

Crude palm oil for third month delivery rallied RM51 to RM4,176 per tonne, off the intra-day high of RM4,179.

Bloomberg reported this was a fresh 13-year high, with gains in soybean oil and petroleum keeping the tropical commodity elevated and setting futures on track for their longest winning streak in almost two decades.

Palm oil, used in everything from cooking oil to chocolate and biofuel, is up for a ninth day on the back of smaller inventories in No. 2 grower Malaysia, a global supply crunch in edible oils, and surging oil prices, the wire reported.

KL Kepong ended the day eight sen higher at RM23.20, PPB Group 10 sen to RM18.80, Sime Plantation three sen to RM4.90 and IOI Corp one sen to RM4.24.

Genting advanced 11 sen to RM5.20 and GentingM six sen to RM3.18, Sime Darby fell three sen to RM2.31 but Tenaga lost 14 sen to RM10.66 and erased 1.23 points.

Telcos climbed with Maxis up 10 sen to RM4.63 and adding 1.20 points, Axiata two sen to RM3.76, Digi three sen to RM3.68 and Telekom four sen to RM6.07.

Among the glove makers, Hartalega rose 11 sen to RM9.83, Supermax one sen to RM4.09 but Top Glove shed two sen to RM5.18.

US light crude oil and Brent rose 56 cents each to US$66.17 and US$69.78.

For oil and gas stocks, Petronas Dagangan was up 36 sen to RM20.66, Petronas Gas shed four sen to RM15.76 and Petronas Chemicals two sen to RM8.25 while Dialog ended two sen lower at RM3.25.

Dataprep was among the top gainers, rebounding 63 sen to RM3.29 as traders ignored Bursa Securities' advice. PMB Tech added 24 sen to RM6.18.

Chip maker MPI fell 88 sen to RM36.30, Greatec 66 sen to RM4.97, Genetec 44 sen to RM5.36, KESM 40 sen to RM12.20, Vitrox 26 sen to RM14.44, Unisem 25 sen to RM7.25 and MI 18 sen to RM4.01.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

crude palm oil , ringgit , soyoil

   

Next In Business News

Mitsui weighs buyout of US$11bil IHH Healthcare
MIDF Research: Bank Negara likely to keep OPR unchanged this year
US$953mil Singaporean fund ensnared by alleged nickel fraud
Maybank to stop coal financing
CMS to hire external consultant in financial management probe
Rizal Rickman succeeds Zeti as Sime Darby Property chairman
Former Chief Justice Tun Arifin Zakaria appointed as PNB group chairman
Inari Amertron plans RM1bil private placement�
KLCI snaps losing streak but broader market cautious
Bank Muamalat allocates RM500mil financing to help Industry 4.0 vendors

Stories You'll Enjoy


Vouchers