Hong Leong Bank, Digi lead KLCI rebound as volume surges
KUALA LUMPUR: Fund buying of Hong Leong Bank and Digi helped the FBM KLCI stage a mild rebound on Friday after a volatile week, as sentiment was shored up by the firm key Asian markets.
Turnover on Bursa Malaysia was 4.67 billion shares, slightly below the 4.7 billion units the previous day, due to heavy churning in oil and gas penny stocks, Priceworth and even hospital operator KPJ.
Turnover on Bursa Malaysia was 4.67 billion shares, slightly below the 4.7 billion units the previous day, due to heavy churning in oil and gas penny stocks, Priceworth and even hospital operator KPJ.
At 5pm, the KLCI was up 6.02 points or 0.36% to 1,680.54. Value of shares traded was RM3.66bil. There were 485 gainers, 406 losers and 356 counters unchanged.
On the external front, the Hong Kong market closed higher, after China pledged to prop up slowing economic growth and appeared to make progress in its trade talks with the US. The Hang Seng index was up 0.6% while the Hang Seng China Enterprises index rose 0.5%.
Hong Leong Bank rose 54 sen to RM21.28 and added 2.03 points to the KLCI. AmBank gained nine sen to RM4.60, Public Bank four sen to RM24.48, CIMB one sen to RM5.48 while RHB Bank sheds three sen to RM5.80 and Maybank eased two sen to RM9.47.
As for telcos, Digi closed nine sen higher at RM4.62 and gave the KLCI a 1.21 point boost, Axiata gained four sen to RM4.20 but Maxis shed five sen to RM5.24.
Among the plantations, United Plantations rose 20 sen to RM27.40 and Genting Plantation 18 sen to RM10.60. IOI Corp rose eight sen to RM4.54, KL Kepong 14 sen to RM25 and PPB Group 10 sen to RM18.24 while Sime Plantation shed two sen to RM5.05.
Sapura Energy rose 1.5 sen to 36.5 sen and it was the most active with 616 million shares done while its warrants added two sen to 13.5 sen.
AmInvestment Research upgraded its call on Sapura Energy to Buy from Hold with a higher fair value of 50 sen a share from an earlier 30 sen.
Bumi Armada fel 0.5 sen to 19 sen, Hu-Ann two sen to 27 sen while Perdana lost one sen to 47 sen and KNM gained one sen to 12.5 sen.
Petronas Dagangan lost 32 sen to RM24.48 but Petronas Gas added two sen to RM17.70 and Petronas Chemical unchanged at RM9.25. Dialog gained three sen to RM3.23.
On the external front, the Hong Kong market closed higher, after China pledged to prop up slowing economic growth and appeared to make progress in its trade talks with the US. The Hang Seng index was up 0.6% while the Hang Seng China Enterprises index rose 0.5%.
Hong Leong Bank rose 54 sen to RM21.28 and added 2.03 points to the KLCI. AmBank gained nine sen to RM4.60, Public Bank four sen to RM24.48, CIMB one sen to RM5.48 while RHB Bank sheds three sen to RM5.80 and Maybank eased two sen to RM9.47.
As for telcos, Digi closed nine sen higher at RM4.62 and gave the KLCI a 1.21 point boost, Axiata gained four sen to RM4.20 but Maxis shed five sen to RM5.24.
Among the plantations, United Plantations rose 20 sen to RM27.40 and Genting Plantation 18 sen to RM10.60. IOI Corp rose eight sen to RM4.54, KL Kepong 14 sen to RM25 and PPB Group 10 sen to RM18.24 while Sime Plantation shed two sen to RM5.05.
Sapura Energy rose 1.5 sen to 36.5 sen and it was the most active with 616 million shares done while its warrants added two sen to 13.5 sen.
AmInvestment Research upgraded its call on Sapura Energy to Buy from Hold with a higher fair value of 50 sen a share from an earlier 30 sen.
Bumi Armada fel 0.5 sen to 19 sen, Hu-Ann two sen to 27 sen while Perdana lost one sen to 47 sen and KNM gained one sen to 12.5 sen.
Petronas Dagangan lost 32 sen to RM24.48 but Petronas Gas added two sen to RM17.70 and Petronas Chemical unchanged at RM9.25. Dialog gained three sen to RM3.23.
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| CDB | 4.090 |
| CIMB | 6.670 |
| GENTING | 4.580 |
| HLBANK | 19.500 |
| IOICORP | 4.050 |
| MAXIS | 3.560 |
| MAYBANK | 9.800 |
| PBBANK | 4.250 |
| PETDAG | 21.800 |
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| SAPNRG | 0.045 |
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