KUALA LUMPUR: Fund buying of Genting Malaysia and Genting Bhd
shored up the FBM KLCI at midday on Tuesday while the broader market was firmer despite the decline in volume and value on Bursa Malaysia.
At midday, the FBM KLCI was up 4.74 points to 1,738.67. Turnover was 1.49 billion shares valued at RM1bil. The broader market was stronger despite the decline in the quality of buying as advancers led decliners 501 to 310 and 360 counters were unchanged.
The ringgit slipped against the US dollar to 4.4087 from 4.4065 the previous day, it weakened against the pound sterling to 5.5399 from 5.5199 and fell against the euro to 4.6927 from 4.6784. However, it firmed up against the Singapore dollar to 3.1509 from 3.1550.
US light crude oil shed one cent to US$52.64 but Brent edged up one cent to US$55.37. Petronas Dagangan added 10 sen to RM24.10, Petronas Gas six sen to RM19.34 and Petronas Chemicals one sen higher at RM7.60.
Semiconductor stocks were among the biggest gainers, with MPI up 48 sen to RM11.38 and KESM 22 sen to RM12.22 and Pentamaster 18 sen to RM2.96.
As for heavyweights, Genting Bhd was 10 sen higher at RM9.36 and nudged the KLCI up 0.62 of a point and Genting Malaysia seven sen up to RM5.57 and pushing the index up 0.68 of a point. Tenaga rose two sen to RM13.72.
Crude palm oil for third-month delivery fell RM3 to RM2,495 per tonne – the lowest since August 2016, tracking the decline in soybeans.
PPB Group rose 24 sen to RM17.02 and United Plantations 20 sen higher at RM28.50, KL Kepong 14 sen higher at RM24.12, IOI Corp added three sen to RM4.45 but Sime shed one sen to RM9.27.
As for banks, Ambank rose three sen to RM4.91 while CIMB, Maybank and RHB Bank rose two sen each to RM5.47, RM9.04 and RM5.12 while Public Bank was flat at RM19.92.
Among the consumer stocks, Ajinomoto rose 38 sen to RM17.88 and F&N gained 22 sen to RM24.30.
Anzo rose in active trade, up six sen to 42 sen with 52.97 million shares done, rebounding from the recent profit taking.
Among the key regional markets,
Japan’s Nikkei 225 rose 0.19% to 18,390.56;
Hong Kong’s Hang Seng Index fell 0.92% to 24,039.45;
CSI 300 added 0.07% to 3,482.41;
Shanghai’s Composite Index fell 0.11% to 3,218.52;
Hang Seng China Enterprise fell 1.04% to 10,098.69;
Taiwan’s Taiex added 0.34% to 9,749.52;
South Korea’s Kospi added 0.11% to 2,148.12 and
Singapore’s Straits Times Index 0.23% higher at 3,145.51.
Spot gold fell US$2.26 to US$1,282.45.
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