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KLCI back above 1,500-level on last-minute buying

KUALA LUMPUR: The FBM KLCI rebounded on Thursday on fresh buying interest, closing at the day’s high on last-minute buying.

At 5pm, the 30-stock index advanced 7.76 points, or 0.52% to 1,501.79, its intraday high.

There were 458 gainers, 400 losers and 443 counters traded unchanged on the Bursa Malaysia. Turnover stood at 2.73 billion shares valued at RM1.58bil.

Dealers noted that there were some bargain hunting activities that helped to lift the key index, but gains were limited as buying momentum was still tepid.

On Bursa Malaysia, Petronas Dagangan was the top gainer, jumping 70 sen to RM20.30. Amlex rose 27.5 sen to 50 sen, Fraser & Neave added 22 sen to RM24.20 and Cocoaland advanced 20 sen to RM1.14.

ViTrox shed 54 sen to RM20.30, Genetec lost 46 sen to RM38.50, Malaysian Pacific Industries fell 46 sen to RM48.08 and Malaysian Genomics Resource Centre declined 35 sen to 82 sen.

Among the banks, Maybank and Public Bank added one sen each to RM8.11 and RM3.99 respectively. CIMB fell four sen to RM5.24, Hong Leong Bank closed unchanged at RM18 and RHB Bank added four sen to RM5.42.

In terms of fund flows, local institutions and retailers were net buyers on Wednesday acquiring equities worth RM38mil and RM33mil respectively.

Foreigners emerged as net sellers on Wednesday with total purchases valued at RM70mil.

Meanwhile, the ringgit was quoted at 4.2165, up 0.2% against the US dollar.

US light crude oil rose eight cents to US$72.44 a barrel and Brent added two cents to US$75.84 per barrel.

On the external front, Japan’s Nikkei 225 ended 0.47% lower at 28,725.47 while South Korea’s Kospi closed up 0.93%, at 3,029.57, its highest since Oct 26.

The Hang Seng index was up 257.99 points, or 1.08%, at 24,254.86.

The Shanghai Composite index was up 0.98% at 3,673.04 and CSI300 index rose 1.66% to 5,078.69.

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