KLCI swings back above 1,500-level


KUALA LUMPUR: Last minute buying interest pushed the FBM KLCI sharply higher on Tuesday, after spending the day vacillating between gains and losses.

At 5pm, the benchmark index closed up 7.26 points, or 0.49% to 1,500.26, its intraday high. The index opened 0.15 of-a-point better at 1,493.15 this morning.

Broad market sentiment continued to be weak, with 494 losers outpacing 473 gainers and 430 counters which traded unchanged. Turnover was at 4.16 billion shares valued at RM2.71bil.

Dealers said overall market sentiment remained tepid as there were few domestic leads as well as the recent political developments.

Among the FBM KLCI component stocks, Kuala Lumpur Kepong jumped 64 sen to RM19.30, Nestle added 40 sen to RM133.70, Hong Leong Financial Group rose 28 sen to RM17.30 and Petronas Gas climbed 24 sen to RM15.72.

Maybank advanced six sen to RM8.05, Tenaga added 10 sen to RM9.73 and Public Bank gained three sen to RM4.

Few counters were in negative territory, including Hartalega down 23 sen to RM6.80, Petronas Dagangan falling 14 sen to RM18.46, and Top Glove declining 10 sen to RM3.82.

Hartalega posted a record-high net profit of RM2.26bil in its first quarter ended 30 June 2021. Pre-tax profit for the quarter increased to RM2.88bil while revenue grew to RM3.9bil.

On the broader market, ViTrox added 36 sen to RM19.98, Unisem rose 30 sen to RM8.90 and MPI gained 24 sen to RM45.88.

KESM tumbled 64 sen to RM13.34, F&N shed 42 sen to RM24.38 and Heineken fell 30 sen to RM22.22.

Meanwhile, Brent crude oil futures rose 29 cents, or 0.4%, to US$73.18 a barrel while the US West Texas Intermediate crude added 33 cents, or 0.46%, at US$71.59 per barrel.

On the external front, MSCI’s Asia ex-Japan stock index was firmer by 0.11%.

Japan’s Nikkei 225 slid 0.5%, or 139.19 points to 27,641.83.

South Korea’s Kospi ended up 14.10 points, or 0.44%, at 3,237.14.

Hong Kong’s Hang Seng index closed down 0.16% to 26,194.82.

China’sCSI300 index was flat at 4,934.46 points while the Shanghai Composite Index lost 0.5% to 3,447.99 points.

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