KUALA LUMPUR: The FBM KLCI closed higher on Monday, lifted by gains in banking and utility heavyweights, although the broader market remained mildly negative.
The 30-stock finished 6.69 points, or 0.39%, higher at 1,714.79, buoyed by gains in banking and utility heavyweights.
The benchmark index traded within a 7.03-point range, between an intraday high of 1,715.29 and a low of 1,708.26.
Market breadth was negative, with losers outnumbering gainers by 610 to 488, or about 1.25 decliners for every advancer, indicating a mildly negative tone across the broader market. Total volume stood at 3.6 billion units worth RM2.46bil.
Dealers said the firmer close in the benchmark index contrasted with the weaker broader market, suggesting buying interest remained concentrated in selected large-cap stocks.
They said sentiment was nevertheless supported by a broadly positive regional performance, led by strong gains in South Korea and Japan, while investors continued to monitor movements in crude oil prices.
Among the gainers, PETRONAS Gas jumped 44 sen to RM17.70, Malaysian Pacific Industries
rose 42 sen to RM39.82, Kuala Lumpur Kepong added 24 sen to RM22.50 and Tenaga Nasional climbed 22 sen to RM13.84.
On the other hand, Nestlé slid 94 sen to RM93.90, Carlsberg lost 26 sen to RM12.76, Hong Leong Industries fell 22 sen to RM17.40, while Allianz declined 20 sen to RM21.38.
On the forex front, the ringgit was quoted at 4.0460, down 0.04% against the US dollar.
The local currency also edged down 0.18% against the Singapore dollar to 3.1963.
Meanwhile, Brent crude rose 37 cents or 0.38%, to US$96.65 a barrel, but U.S. West Texas Intermediate crude eased 17 cents, or 0.19%, to US$91.31 per barrel.
Around the region, Japan’s Nikkei 225 rose 2.12% to 66,399.84, South Korea’s Kospi surged 4.61% to 6,995.39, while Taiwan’s TAIEX gained 1.67% to 47,326.27.
In China, the CSI 300 Index finished 0.59% higher at 4,575.02, while the Shanghai Composite Index edged up 0.06% to 3,932.70.
Hong Kong’s Hang Seng Index, however, slipped 0.93% to 25,413.12.
