KLCI continues rally as IHH, Tenaga lift market

KUALA LUMPUR: The FBM KLCI closed higher for the sixth straight session, gaining more than 70 points along the way.

At closing, the benchmark index added 4.42 points, or 0.28% to 1,590.16, its highest in almost three months. On a weekly basis, the index added 4.75%.

Broader market sentiment continued to be cautious with 620 losers, 393 gainers and 445 counters traded unchanged on the Bursa Malaysia.

Traded volumes stood at 4.08 billion shares worth RM2.96bil.

Earlier today, Prime Minister Datuk Seri Ismail Sabri Yaakob unveiled his cabinet line-up earlier.

Tengku Datuk Seri Zafrul Tengku Aziz has been re-appointed as Finance Minister. Datuk Seri Mohamed Azmin Ali also retained his post as the Senior Minister and International Trade and Industry Minister while Datuk Seri Mustapa Mohamed remained as the Minister in the Prime Minister's Department (Economy).

Among the FBM KLCI constituents, IHH Healthcare jumped 51 sen to RM6.35, Hartalega gained 20 sen to RM7.25, Petronas Gas rose 12 sen to RM16.26, Tenaga climbed eight sen to RM10.38 and Top Glove added five sen to RM3.91.

Hong Leong Bank fell 10 sen to RM19, Maybank lost eight sen to RM8.37, Hap Seng declined seven sen to RM8.43, Dialog gave up seven sen to RM2.69 and Genting Malaysia shed five sen to RM3.61.

On the broader market, DKSH surged 97 sen to RM4.23, Dutch Lady jumped 64 sen to RM33.40 and Kobay rose 46 sen to RM5.66.

ViTrox fell 40 sen to RM18.60, Genetec lost 28 sen to RM29.10 and Oriental Food Industries declined 15 sen to 95 sen.

Meanwhile, Reuters oil prices rose on Friday on worries about supply disruptions as energy companies began shutting in production in the Gulf of Mexico ahead of a potential hurricane forecast to hit on the weekend.

US light crude oil rose US$1.01 to US$68.43 and Brent added 98 cents to US$72.05 per barrel.

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