FBM KLCI ends higher for second day in row

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KUALA LUMPUR: Bursa Malaysia advanced for the second straight session, on continued buying in banking and Petronas-linked stocks.

The FBM KLCI closed up 12.04 points, or 0.76% to 1,597.94. The index moved between 1,598.61 and 1,585.47 throughout the session.

Market breadth was positive as gainers outnumbered losers on a ratio of 711-to-362 stocks. Traded volumes stood at 7.43 billion shares valued at RM4.09bil.

Among the 30 FBM KLCI constituents, 27 stocks were higher while three closed lower.

Dealers said market sentiment turned positive boosted by the Pemerkasa+ stimulus package that was unveiled by the Prime Minister on Monday.

Hong Leong Financial Group, Hap Seng, Hong Leong Bank and Petronas Gas added 20 each to RM17,80, RM8.24, RM18.40 and RM16.40 respectively. Petronas Dagangan rose 18 sen to RM19.

Among the banks, Maybank rose four sen to RM8.24, Public Bank gained three sen to RM4.24, CIMB climbed nine sen to RM4.54 and RHB added18 sen to RM5.48.

Nestle fell 70 sen to RM135.80, Kuala Lumpur Kepong shed 18 sen to RM21.88 and Maxis declined two sen to RM4.61.

On the broader market, F&N surged RM1.18 to RM27.38, Time Dotcom rose 52 sen to RM14.40 and Panasonic Manufacturing added 50 sen to RM33.

Serba Dinamik continued to remain under selling pressure. The counter closed one sen lower at 82.5 sen.

Permodalan Nasional Bhd has expressed “deep concern” about the issues at Serba Dinamik, which is facing an investigation over unverified contracts.

Elsewhere in the region, MSCI’s Asia ex-Japan stock index was lower by 0.32%.

Japan’s Nikkei 225 rose 0.46% to close at 28,946.14, while South Korea’s Kospi ended up 2.36 points, or 0.07%, at 3,224.23.

The Hang Seng index was down 170.38 points, or 0.58%, at 29,297.62.

China’s Shanghai Composite index was down 0.76% at 3,597.14, while the CSI300 index was down 0.97% to 5,289.97.



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