HLFG, HLBank and PetGas underpin KLCI’s advance


KUALA LUMPUR: The FBM KLCI’s rebound strengthen towards the midday break on Thursday, underpinned by buying of HLFG, Hong Leong Bank and Petronas Gas despite the downbeat manufacturing data.

At 12.30pm, the KLCI was up 7.45 points or 0.49% to 1, 540.08. Turnover was 2.74 billion shares valued at RM1.35bil. There were 449 gainers, 327 losers and 395 counters unchanged.

The headline IHS Markit Malaysia Manufacturing Purchasing Managers’ Index (PMI) fell to 39.9 in June, from 51.3 in May, pointing to a sharp decline in business conditions in the manufacturing sector, according to IHS Markit.

China shares dropped on Thursday, led by losses in industrial and material stocks after data showing soft factory activity in June raised concerns about an economic recovery, Reuters reported.

At the midday break, the Shanghai Composite index was down 0.07% at 3, 588.55 points, while the blue-chip CSI300 index was down 0.23%.

At Bursa, among the KLCI stocks, HLFG rose 32 sen to RM18.12 and Hong Leong Bank 12 sen to RM18.84 while Sime Plantation added 11 sen to RM4.09 and IHH Healthcare 10 sen to RM5.57 while Axiata advanced seven sen to RM3.81.

Brent crude for September gained 17 cents, 0.2%, to $74.79 a barrel by 0355 GMT while the U.S. West Texas Intermediate crude for August was at $73.68 a barrel, up 21 cents, or 0.3%, close to its highest since 2018 of $74.45, according to Reuters.

Petronas Gas rose 12 sen to RM15.62 and Petronas Dagangan eight sen to RM18.68 while Petronas Chemicals shed one sen to RM8.05.

NovelPlus which was listed on the LEAP Market, rose 12.5 sen to 27.5 sen. NovelPlus is an online social reading and writing platform developer and operator.

Genetec rebounded 85 sen to RM9.35 after the profit taking on Wednesday. Kobay gained 22 sen to RM2.92 and PMB Tech 15 sen to RM5.40.

Aeon Credit climbed 18 sen to RM11.80, Sedania 11.5 sen to 84 sen and Edaran 11 sen to 91.5 sen.

SCIB rose 12.5 sen to 64 sen with 118 million shares, the biggest advance in its share price in recent weeks. KPower was up 10 sen to 81.5 sen. Serba Dinamik edged up 1.5 sen to 34.5 sen with 284 million shares traded.

Euro Holdings rose five sen to 98 sen with 49 million shares done, off the intra-morning high of RM1.15.

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