Tenaga, plantations power KLCI sharply higher

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KUALA LUMPUR: Bursa Malaysia closed higher on Friday, underpinned by gains in semiconductor-related companies while late buying of Tenaga Nasional and plantations boosted the FBM KLCI.

The KLCI surged 18.19 points, or 1.16% to 1, 589.05, its intraday high at closing. The index opened 0.23 of-a-point higher at 1, 571.09 this morning. For the week, the FBM KLCI rose 0.88%

There were 563 gainers, 456 losers and 452 counters traded unchanged on the Bursa Malaysia. Turnover stood at 6.31 billion shares valued at RM4.77bil.

Semiconductor-related and technology stocks were among the top gainers on Bursa Malaysia.

Malaysian Pacific Industries rose 54 sen to RM40.68, Unisem added 31 sen to RM7.71, MI Tech gained 27 sen to RM3.57 and JF Technology climbed seven sen to RM1.40.

Among the 30 FBM KLCI constituents, there was strong interest in plantations after the recent profit taking due to the slump in crude palm oil prices.

Kuala Lumpur Kepong jumped 54 sen to RM21.44, Sime Plantation added 29 sen to RM4.40 and IOI Corp two sen to RM3.87.

Nestle rose 50 sen to RM134.90, Tenaga added 49 sen to RM10.44 and Hong Leong Financial Group rose 38 sen to RM18.36.

As for glove makers, Hartalega added 15 sen to RM8.44, Supermax gained 12 sen to RM3.75 and Top Glove climbed seven sen to RM4.70.

Petronas Gas fell 30 sen to RM15.62, Digi lost 13 sen to RM4.18, Petronas Chemicals shed eight sen to RM8, Maxis gave up four sen to RM4.44 and CIMB declined three sen to RM4.60.

On the external front, MSCI's Asia ex-japan stock index was firmer by 0.05%.

Japan’s Nikkei 225 shed 0.19% to close at 28, 964.08 while South Korea’s Kospi added 0.09% to 3, 267.93.

Hong Kong’s Hang Seng index was up 242.68 points, or 0.85%, at 28, 801.27.

China’s CSI300 index was unchanged at 5, 102.47, while the Shanghai Composite Index was also flat at 3, 525.10.

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