KLCI closes higher amid mixed broader market

market up

KUALA LUMPUR: Bursa Malaysia closed mixed amid sustained buying of chip and tech stocks on Thursday but profit taking weighed on glove makers.

At 5pm, the KLCI was up 3.02 points or 0.19% to 1,627.99. Turnover was 9.16 billion shares valued at RM4.89bil. The broader market was mixed with 634 gainers, 615 losers and 411 counters unchanged.

Local institutions have been net sellers in many days which were offset by net buying by local retail investors. Foreign funds were seen nibbling on selected stocks.

China stocks rose on Thursday, driven by gains in consumer and healthcare firms, after the US Federal Reserve pledged to maintain an accommodative monetary policy and projected a rapid jump in U.S. economic growth this year.

The blue-chip CSI300 index rose 0.8%, to 5,141.77, while the Shanghai Composite Index gained 0.5% to 3,463.07, Reuters reported.

Japan’s Nikkei 225 closed up 1.01%, Shanghai Composite added 0.51%, Hong Kong Hang Seng Index climbed 1.28% and South Korea’s Kospi 0.61%.

Among the cryptocurrencies, Bitcoin rose US$390.30 to 58,250.10.

As for chip makers and tech stocks, MPI rose RM1.76 to RM38.40, Unisem 45 sen to RM7.63, Greatec 26 sen to RM5.21 and Vitrox 22 sen to RM14.90.

Consumer stocks were mixed with BAT up 36 sen to RM13.54 and Heineken 34 sen to RM26.58 but Nestle fell 30 sen to RM136.80 and Dutch Lady 18 sen to RM35.60.

However, glove makers fell with Comfort and Supermax down 12 sen each to RM2.17 and RM4.23 while Top Glove shed nine sen to RM5.29. Hartalega stood out, climbing five sen to RM9.70.

Among the plantations, PPB Group rose 16 sen to RM18.76 but KL Kepong lost 14 sen to RM23, IOI Corp two sen to RM4.22 and Sime Plantation one sen to RM4.88.

Genting rose 19 sen to RM5.49 and GentingM 11 sen to RM3.29 while Tenaga added two sen to RM10.84.

As for banks, CIMB and Public Bank edged up four sen each to RM4.55 and RM4.28 and Maybank two sen RM8.37.

US light crude oil fell 0.98% to US$63.97 and Brent 0.88% to US$67.40.

Petronas Chemicals added three sen to RM8.20, Petronas Gas two sen to RM15.74 and Dialog one sen to RM3.23 but Petronas Dagangan lost eight sen to RM20.22

Among the telcos, Telekom edged up one sen to RM6.41 but Maxis shed six sen to RM4.63 and Axiata five sen to RM3.89 and Digi four sen to RM3.68.

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