FBM KLCI posts 0.11% gain today in line with regional markets

TheEdge Wed, Apr 28, 2021 06:03pm - 2 years View Original


KUALA LUMPUR (April 28): The FBM KLCI finished 0.11% or 1.82 points higher today at 1,608.5, in line with the gains seen among other regional markets.

The index’s leaders today were Kuala Lumpur Kepong Bhd (KLK), Petronas Chemicals Group Bhd (PetChem) and Genting Bhd.

Specifically, KLK closed 4.59% or RM1 higher today at RM22.8 per share. Meanwhile, PetChem was 3.31% or 26 sen higher at RM8.11. Genting was 3.27% or 16 sen higher at RM5.05 per share.

Conversely, index-linked rubber glove counters were the top laggards today, continuing the declines seen yesterday. Supermax Corp Bhd was down 3.77% or 23 sen at RM5.87, while Hartalega Holdings Bhd was 2.8% or 30 sen lower at RM10.40. Meanwhile, Top Glove Corp Bhd was down 1.9% or 11 sen at RM5.67 apiece.

Across Bursa Malaysia, 6.49 billion shares worth RM3.78 billion were traded today. The number of gainers on the local bourse stood at 457, in contrast to 586 decliners and 438 counters that were unchanged.

The top actives included Focus Dynamics Group Bhd, which saw 520.04 million shares traded, followed by Vortex Consolidated Bhd and Minda Global Bhd. The top value gainers were KLK, Transocean Holdings Bhd and Fraser & Neave Holdings Bhd.

Conversely, the top value losers were Nestle (Malaysia) Bhd, Malaysian Pacific Industries Bhd and Rapid Synergy Bhd.

In terms of indices, the FBM Fledgling, FBM Palm Oil Plantation – NC, and FBM Asian Oil (RM) were the best-performing indices today.

Rakuten Trade Research head of sales Vincent Lau noted that many investors are sitting on the sidelines today ahead of the US Federal Reserve’s upcoming policy meeting.

Asian shares broadly posted gains today. Japan's Nikkei 225 finished 0.21% or 62.08 points higher at 29,053.97. Hong Kong's Hang Seng closed 0.45% or 129.8 points higher at 29,071.34, while the Shanghai Composite was 0.42% or 14.46 points higher at 3,457.07 points. South Korea's Kospi closed 1.06% or 33.95 points lower at 3,181.47.

“When the Fed's policy meeting concludes on Wednesday, Chair Jerome Powell is expected to reaffirm commitment to keeping monetary policy accommodative over a prolonged time, though signs of rising inflation expectations have raised some speculation,” Reuters reported.

Bursa Malaysia will be closed tomorrow for the Nuzul Al-Quran public holiday.

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