KUALA LUMPUR: The FBM KLCI staged a rebound on Friday, recovering from three consecutive days of losses as investors took the opportunity to accumulate beaten-down stocks.
The benchmark index closed at 1,589.78, up 0.07% or 1.10 points, taking its full-week drop to 0.17%.
In the broader market, losers outnumbered gainers with 553 stocks ending lower and 479 stocks finishing higher. A total of 2.6 billion shares were traded, with a value of RM2.28bil.
Tenaga Nasional lifted the KLCI by 1.6996 points after rising 20 sen to RM14. PETRONAS Chemicals rose nine sen to RM4.92, pushing the index by 1.0526.
Decliners among the FBM KLCI component stocks included Kuala Lumpur Kepong, YTL Power and YTL Corp.
On the broader market, Dutch Lady
rose 98 sen to RM31, Heineken added 40 sen to RM23.70 and Gamuda gained 30 sen to RM9.17.
KESM fell 22 sen to RM3.60, Edaran declined 14 sen to RM1.65 and PBA lost 13 sen to RM2.12.
According to Bursa Malaysia data, foreign investors continued to sell local equities, disposing of RM134mil on Thursday, while local institutions and retailers bought equities worth RM122mil and RM13mil, respectively.
On the forex market, the ringgit gained 0.01% against the US dollar to 4.4625 and strengthened 0.14% against the Singapore dollar to 3.3188.
Brent crude was up 37 cents to US$74.60 a barrel while US West Texas Intermediate crude crude climbed 39 cents to US$70.49 a barrel.
Among the key regional markets:
Japan’s Nikkei 225 closed up 0.68% to 38,283.85;
Hong Kong’s Hang Seng Index fell 1.89% to 19,229.97;
China’s CSI 300 Index tumbled 3.1% to 3,865.70;
Taiwan’s Taiex added 1.55% to 22,904.32;
South Korea’s Kospi closed up 0.83% to 2,501.24 and;
Singapore’s Straits Times Index rose 0.21% to 3,747.01points.
