Axiata and Digi underpin KLCI's advance

TheStar Fri, Jan 17, 2020 01:46pm - 4 years View Original


At Bursa, Axiata rose 26 sen to RM4.62 while Digi gained 12 sen to RM4.66. Bloomberg reported Malaysia’s sovereign fund and Telenor ASA have revived talks on a potential deal involving Axiata Group, just four months after the carriers scrapped negotiations on a broader merger of their Asian operations.

KUALA LUMPUR: Fund buying of Axiata and Digi helped underpin the FBM KLCI's advance at midday on Friday while most key Asian markets were upbeat about the resilence of China's economy.

At 12.30pm, the KLCI was up 5.83 points or 0.37% to 1,593.71. Turnover was 1.58 billion shares valued at RM966.19mil. There were 343 gainers and also 343 losers while 416 counters unchanged.

On the external front, China stocks rose as investors cheered more signs of resilience in the world's second-largest economy, with risk appetite also getting a boost from the signing of the US-China trade deal, Reuters reported.

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