KLCI breaches 1,500-level but market breadth stays negative
KUALA LUMPUR: The local bourse climbed higher on Friday, riding on the coattails of the firmer key Asian markets.
At 5pm, the FBM KLCI climbed 4.80 points, or 0.32% to 1,500.29, buoyed by gains in plantations and banking stocks. Turnover was 2.39 billion shares valued at RM1.86bil.
For the week, the benchmark index lost 4.15 points, or 0.27%.
Broader market sentiment was weak, with 499 losers outpacing 376 gainers and 415 counters which traded unchanged.
In today’s session, 17 of the KLCI-component stocks chalked up gains while nine counters ended lower.
Nestle rose 60 sen to RM135.80, Kuala Lumpur Kepong added 54 sen to RM22.30, IOI Corp advanced 11 sen to RM4.17 and Sime Dary Plantation climbed 10 sen to RM4.27.,
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Among the banks, Maybank added seven sen to RM8.91, CIMB rose six sen to RM5.46, RHB Bank gained three sen to RM5.79, Public Bank climbed two sen to RM4.63 and Hong Leong Bank was unchanged at RM20.68.
On the broader market, Malaysian Pacific Industries jumped RM1 to RM34, Oriental rose 18 sen to RM6.90 and Chin Tek gained 17 sen to RM8.69.
Among the losers, PETRONAS Dagangan fell 58 sen to RM21.42, Hengyuan lost 47 sen to RM5.34, Petron shed 41 sen to RM5.39 and Batu Kawan eased 38 sen to RM23.62.
On the external front, MSCI’s Asia ex-Japan stock index was higher by 0.54%.
Japan’s Nikkei 225 advanced 0.57% to 28,641.38 while South Korea’s Kospi closed up 0.15%, at 2,481.03.
Hong Kong’s Hang Seng ended 1.01% higher at 20,170.04.
China’s CSI 300 index fell 0.21% to 4,107.55 while the Shanghai Composite eased 0.31% to 3,236.22.