KUALA LUMPUR: The FBM KLCI rallied to its intraday high on Thursday, outperforming regional peers on improved investor appetite.
The FBM KLCI rose 14.39 points, or 0.89%, to its intraday high of 1,625.39, with 21 of its 30 component stocks closing higher and nine finishing lower.
In the broader market, decliners outnumbered gainers at 594 to 490, while 542 counters were unchanged. Turnover stood at 3.11 billion shares worth RM2.4bil.
Dealers said improved trading interest on the local bourse was driven by expectations that a softer U.S. interest rate environment may boost risk appetite.
This, they said, could help underpin demand for index heavyweights and selected cyclical sectors.
Among the gainers, Kuala Lumpur Kepong rose 32 sen to RM19.52, Hong Leong Financial Group gained 30 sen to RM18.16, Westports added 22 sen to RM5.67 and Hong Leong Bank climbed 18 sen to RM21.60.
On the downside, BLD Plantation
tumbled RM1.46 to RM15.04, Nestle slid 80 sen to RM114.20, Gamuda lost 24 sen to RM4.89 and Dutch Lady fell 18 sen to RM30.10.
Wasco Greenergy, which debuted on the Main Market today, closed down 12 sen, or 12%, at 88 sen with 24.04 million shares traded.
In terms of fund flows, foreign funds and retailers were net sellers on Wednesday, disposing of RM100mil and RM39mil worth of equities, respectively.
Local institutions were net buyers, accumulating RM138mil.
Meanwhile, the ringgit strengthened 0.22% against the US dollar to 4.1083 after three straight sessions of losses.
The local currency also edged up 0.15% to 3.1720 against the Singapore dollar.
On the external front, Asian markets ended lower, with Japan’s Nikkei 225 down 0.9% at 50,148.82 and South Korea’s Kospi falling 0.59% to 4,110.62.
Hong Kong’s Hang Seng Index ended almost flat, slipping 0.04% to 25,530.51.
China’s blue-chip CSI 300 Index lost 0.86% to 4,552.18, while the Shanghai Composite Index fell 0.70% to 3,873.32, with both benchmarks marking their third consecutive day of losses.
