KLCI gets boost from Public Bank, Axiata

by **Cals** Mon 17 Mar 2014, 17:17

Published: Monday March 17, 2014 MYT 1:26:00 PM
Updated: Monday March 17, 2014 MYT 1:29:34 PM
[size=40]KLCI gets boost from Public Bank, Axiata[/size]
BY JOSEPH CHIN

KUALA LUMPUR: The FBM KLCI bounced back from its early losses to climb nearly four points at midday on Monday on some mild buying of Public Bank, Maybank andAxiata.
At 12.30pm, the KLCI was up 3.93 points or 0.22% to 1,809.05. Turnover was 660 million shares valued at RM584.60mil.
The broader market improved, though declining stocks were still ahead of advancers. There were 232 gainers, 375 losers and 305 counters unchanged.
The ringgit strengthened to 3.2761 from the previous close of 3.2801.
Reuters reported Asian shares took refuge near one-month lows as Western countries issued fresh warnings of more sanctions on Moscow after Crimea voted overwhelmingly to break from Ukraine to join Russia, as expected.
MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1% to stay near Friday's one-month low, after slumping 2.9% last week, its biggest fall in more than six months, Reuters added.
At Bursa Malaysia, Public Bank rose 10 sen to RM19.02 and pushed the KLCI up 1.02 points while Maybank added three sen to RM9.53.
Axiata rose four sen to RM6.48 and oushged the KLCI up 0.71 point, DiGi added four sen to RM5.09 while TM was flat at RM5.79.
Despite the decline in crude palm oil for third month delivery by RM8 to RM2,763, most plantations were higher except for FGV, which fell eight sen to RM4.52.
However, United Plantations rose 78 sen to RM25.78 , TAHPS added 30 sen to RM7, KL Kepong 12 sen to RM4.72, Sime Darby three sen to RM9.17 and IOI Corp two sen to RM4.72.
Among consumer stocks, Nestle was up 90 sen to RM67.80 and Apollo 13 sen to RM4.80.
Gamuda rose 23 sen to RM4.51 as it rebounded from last Friday's selling after the Federal Government approved the construction of Line 2 of the Klang Valley Mass Rapit Transit (KVMRT) project.
UMW fell 20 sen to RM10.50 and erased 0.47 point from the KLCI. APM was the top loser, down 24 sen to RM5.96, CMSB 17 sen to RM8.566 and MAHB 13 sen to RM8.05.
Among the key regional markets,
Japan's Nikkei 225 fell 0.21% to 14,297.07;
Hong Kong's Hang Seng Index fell 0.33% to 21,467.35;
Shanghai's Composite Index rose 0.47% to 2,013.83;
Taiwan's Taiex fell 0.09% to 8,679.74;
South Korea's Kospi rose 0.25% 1,924.69
Singapore's Straits Times Index rose 0.21% to 3,080.05.
US light crude oil rose 25 cents to US$99.14 and Brent nine sen to US$108.30.
Spot gold rose 98 cents to US$1,383.89.