KLCI rally fizzles out on Christmas eve

KUALA LUMPUR: The FBM KLCI climbed modestly in muted trading on Christmas eve.

The 30-stock index was up a negligible 0.03-of-a point at 1,516.45. For the week, the index gained 14.44 points.

There were 440 gainers versus 323 losers while 435 stocks remained unchanged. Turnover stood at 1.88 billion shares worth RM911.77mil.

Dealers said the thin volumes may well put prices at risk of greater volatility. They do not expect to see a significant pick-up in trading activity next week as most institutional investors would have wind down their positions ahead of Christmas.

In today’s session, 15 of the KLCI-component stocks chalked up gains while 10 counters closed lower.

Laggards in the KLCI component stocks include Petronas Dagangan (PetDag), Sime Darby Plantation and Press Metal.

PetDag shed 28 sen to RM19.82, dragging the index lower by 0.4182, Sime Darby fell nine sen to RM3.71, pushing the index 0.9359 points lower, Press Metal lost seven sen to RM5.53, nudging the index lower by 0.85 points.

PetGas added 20 sen to RM17.30, Kuala Lumpur Kepong rose 10 sen to RM21.42 and Genting gained seven sen to RM4.67.

Significant advancers on the broader market include Aeon Credit, which added 30 sen to RM13.60, Imaspro gained 24 sen to RM2.69 and Batu Kawan rose 20 sen to RM22.22.

Elsewhere in the region, Japan’s Nikkei 225 inched down 0.05% to close at 28,782.59 while South Korea’s Kospi closed 0.48% higher at 3,012.43.

China’s CSI300 index fell 0.6% to 4,921.34, while the Shanghai Composite Index lost 0.7% to 3,618.05 points.