Late buying helps KLCI close higher

KUALA LUMPUR: Blue chips closed higher for the second straight day on Wednesday, aided by gains in KL Kepong, Sime Darby Plantation and glove stocks amid a mixed broader market as buying interest interspersed with profit-taking.

At 5pm, it was up 1.65 points, or 0.11% to 1,525.24. It traded within a range of 7.39 points between an intra-day high of 1,526.34 and a low of 1,518.95.

Decliners led advancers 472 to 436 while 460 counters unchanged. Turnover stood at 3.83 billion shares worth RM2.2bil.

Among the KLCI component stocks, 14 counters closed higher while 14 counters fell.

According to data on Bursa Malaysia, foreign investors and retailers bought RM97mil and RM22mil of local equities respectively yesterday. Local institution sold RM119mil worth of equities.

Dealers said overall market sentiment remained cautious and investors remained on the sidelines following the country’s latest political development.

The Star reported that the Malay Rulers will hold a special meeting at Istana Negara on Friday to share the results of the Members of Parliament’s poll.

The lawmakers have been told to submit their statutory declaration directly to Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah by 4pm today.

Top gainers on Bursa Malaysia included Carlsberg, which added 60 sen to RM22.10, Heineken Malaysia added 56 sen to RM22.80 and KESM gained 44 sen to RM12.66.

The decliners included Genetec, Nestle, ViTrox and F&N.

Among the KLCI component stocks, Kuala Lumpur Kepong rose 38 sen to RM19.80 and Sime Plantation advanced 11 sen to RM3.85 after its strong earnings. Petronas Gas gained 16 sen at RM16.10, Top Glove added 16 sen to RM3.93 and Hartalega climbed 14 sen to RM7.21.

Among the banks, Maybank closed unchanged at RM8.14, Public Bank declined one sen to RM3.94, CIMB added one sen to RM4.61 and RHB Bank added three sen to RM5.30.

On the external front, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.46%.

Japan’s Nikkei 225 closed up 0.59% to 27,585.91 and South Korea’s Kospi rose 0.5%, at 3,158.93.

China’s CSI300 index rose 1.2% to 4,894.24, while the Shanghai Composite Index gained 1.1% to 3,485.29.

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