KLCI tracks regional markets, up 0.21% as select blue chips lift

TheEdge Mon, Mar 18, 2019 10:20am - 5 years View Original


KUALA LUMPUR (March 18): The FBM KLCI gained 0.21% at mid-morning today, in line with the advance at most regional markets, lifted by select blue chips.

At 10am, the FBM KLCI rose 3.50 points to 1,684.04.

Gainers led losers by 275 to 252, while 308 counters traded unchanged. Volume was 1.06 billion shares valued at RM380.91 million.

The gainers included Aeon Credit Service (M) Bhd, Tenaga Nasional Bhd, Mulpha International Bhd, Hong Leong Industrial Bhd, Apex Healthcare Bhd, PPB Group Bhd, MSM Malaysia Holdings Bhd, Crest Builder Holdings Bhd, Hartalega Holdings Bhd and Rapid Synergy Bhd.

The actives included Sapura Energy Bhd, Iris Corp Bhd, PUC Bhd, Orion IXL Bhd, Destini Bhd, KNM Group Bhd, Priceworth International Bhd and Dayang Enterprise Holdings Bhd.

The decliners included Hong Leong Bank Bhd, Carlsberg Brewery Malaysia Bhd, Malaysian Pacific Industries Bhd, Spritzer Bhd, BSL Corp Bhd, Petronas Dagangan Bhd, Malaysia Airports Holdings Bhd and Watta Holding Bhd.

Asian share markets crept ahead on Monday while bonds were in demand globally on speculation the US Federal Reserve will sound decidedly dovish at its policy meeting this week, according to Reuters.

Japan's Nikkei led the way with a rise of 0.7%, and MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1%, it said.

Hong Leong IB Research said in the US, market participants are focusing on the key headlines which are related to trade developments.

"Should (US) President (Donald) Trump and (China President) Xi (Jinping) manage to strike a trade deal within the next couple of week[s], we may anticipate further upside on the Dow to retest the 26,000-26,343 zone.

"Stocks on the local front, especially within the small cap and lower liners are likely to remain robust in trading activities as overall traded volumes registered above four billion shares over the past two trading days.

"Also, traders could look into bashed down construction stocks and O&G sector amid firmer Brent crude oil prices as well as ACE market stocks this week," it said.

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