KLCI reverses loss, turns positive at 11th hour

KUALA LUMPUR: The FBM KLCI reversed its earlier loss at market close, closing 0.33% higher at its intraday high.

The 30-stocks index rose 5.15 points to close at 1,545.04, its highest since Oct 31.

Gainers overtook decliners at 462 versus 393, while 449 counters were unchanged. Across the board, some 2.4 billion shares worth RM1.83bil were traded.

Genetec was the top gainer on Bursa Malaysia, surging RM1.14 to RM39.14, followed by MPI, which jumped RM1.02 to RM50.82, Nestle, which rose 50 sen to RM133.90 and Sam engineering added 38 sen to RM22.18.

Top losers on Bursa Malaysia included Hong Seng, ViTrox, Petronas Gas and DKSH.

Among the banks, Maybank added three sen to RM8.33, Public Bank climbed one sen to RM4.19, CIMB gained one sen to RM5.43, RHB Bank rose three sen to RM5.37 and Hong Leong Bank advanced eight sen to RM18.68.

The ringgit fell 0.09% to 4.1845 against the US dollar. The local currency was up 0.27% against the euro at 4.7237.

It rose 0.11% against the pound sterling at 5.6154 and flat against the Singapore dollar at 3.0883.

Meanwhile, Brent crude rose 21 cents to US$79.15 a barrel. U.S. West Texas Intermediate (WTI) crude climbed 17 cents to US$76.15 per barrel.

On the external front, MSCI's broadest index of Asia-Pacific shares ex-Japan lost 0.3%.

Nikkei 225 declined 0.56% to 28,906.88 while Kospi fell 26.95 points, or 0.89%, to 2,993.29.

China’s Shanghai Composite index lost 0.9% to 3,597.00 points while CSI300 index fell 1.5%, to 4,883.48.