KLCI edges up in line with regional gains

TheEdge Fri, Aug 09, 2019 12:54pm - 4 years View Original


KUALA LUMPUR (Aug 9): The FBM KLCI edged up at midday break today, in line with gains at regional markets.

At 12.30pm, the FBM KLCI gained 3.61 points to 1,619.63, lifted by the financial services, energy and consumer products sectors.

Gainers led losers by 296 to 217, while 511 counters traded unchanged. Volume was 1.10 billion shares, valued at RM682.30 million.

The gainers included British American Tobacco (M) Bhd, Carlsberg Brewrery Malaysia Bhd, Nestle (M) Bhd, Dutch Lady Milk Industries Bhd, Public Bank Bhd, APM Automotive Holdings Bhd, Syarikat Takaful Malaysia Keluarga  Bhd and LPI Capital Bhd.

The actives included Vsolar Group Bhd, NetX Holdings Bhd, Ekovest Bhd, Datasonic Group Bhd, Iskandar Waterfront City Bhd, Eduspec Holdings Bhd and KNM Group Bhd.

The decliners included Genting Plantatations Bhd, Kuala Lumpur Kepong Bhd, Fraser & Neave Holdings Bhd, Sarawak Plantations Bhd, United Plantations Bhd, Country Heights Holdings Bhd, Padini Holdings Bhd and Heineken Malaysia Bhd.

Southeast Asian stock markets rose on Friday, with Indonesia leading gains, buoyed by a surprise rise in China's July exports, according to Reuters.

Trade surplus in China, the region's largest trading partner, stood at US$45.06 billion in July, well above a Reuters poll forecast of US$40 billion, despite U.S. tariffs having kicked in during May, it said.

Affin Hwang Capital Research said the FBMKLCI Index rebounded on Thursday, gaining 11.32 points or 0.7%, closing at 1616.02.

The research house said after retesting immediate support around the 1590 level, price has been staging a rebound for the past few days. This may indicate presence of buyers at support.

“Nonetheless, this is perceived merely as a temporary rebound, as the trend is still pointing downwards.

“Downward movement remains intact,” it said.

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