KLCI extends gains, boost from Hong Leong Bank

by **Cals** Fri 11 Oct 2013, 01:45

Published: Thursday October 10, 2013 MYT 5:16:00 PM
Updated: Thursday October 10, 2013 MYT 5:45:42 PM
KLCI extends gains, boost from Hong Leong Bank

KUALA LUMPUR: Fund buying of Hong Leong Bank and selected blue chips pushed the FBM KLCI to a higher close on Thursday while most key Asian markets were mixed.
At 5pm, the KLCI was up 6.8 points to 1,775.92. Turnover was 1.86 billion valued at RM1.566bil. There were 501 gainers, 264 decliners and 282 counters unchanged.
Reuters reported Japanese stocks rose to a one-week high and the dollar strengthened on Thursday as investors grew hopeful that US politicians will resolve in coming days the fiscal impasse that has sapped market confidence.
It said Tokyo's Nikkei share average advanced 0.9% to its highest point since the middle of last week, although shares elsewhere in Asia lost ground.
At Bursa Malaysia, among banks, Hong Leong Bank rose 46 sen to RM14.28, HLFG 22 sen to RM15.14, AMMB nine sen to RM7.45, Public Bank eight sen to RM18.08 but RHB Cap fell 11 sen to RM7.61.
Consumer stocks were mixed with BAT down 30 sen to RM62.80 but Nestle fell 40 sen to RM67.80, Carlsberg 18 sen to RM12.48 and GAB 12 sen to RM16.88.
Crude palm oil rose RM20 to RM2,389 but United Plantations fell 36 sen to RM26.12 and Genting Plantations 20 sen to RM9.80.
The ringgit strengthened against the dollar at 3.1957 from 3.2000 the previous close.
Among the key regional markets,
Japan’s Nikkei 225 rose 1.12% to 14,194.71;
Hong Kong’s Hang Seng Index fell 0.36% to 22,951.30;
Shanghai’s Composite Index fell 0.94% to 2,190.93;
Taiwan’s Taiex fell 0.37% to 8.344.73;
Singapore’s Straits Times Index rose 0.64% to 3,175.03.
US light crude oil rose 38 cents to US$101.99 and Brent rose 88 cents to US$109.94.
Spot gold fell US$5.55 to US$1,300.04.