KLCI pares down gains, broader market firm

KUALA LUMPUR: The FBM KLCI pared down some of its gains at the mid-day break on Tuesday, Aug 16 in line with most key Asian markets that eased later in the morning. However, the broader market was firmer with buying of lower priced stocks.

The 30-stock KLCI was up 5.50 points to 1,505.24 at 12.30pm, lifted by gains including at Petronas Gas, KLK, Genting PLANTATION []s and MMHE. The index had earlier risen to its intra-morning high of 1,510.54.

Gainers led losers by 465 to 202, while 269 counters traded unchanged. Volume was 767.42 million shares valued at RM908.23 million.

The ringgit strengthened 0.23% to 2.9727 versus the US dollar; crude palm oil futures for the third month delivery added RM2 per tonne to RM3,038, crude oil slipped 41 cents per barrel to US$87.47 while gold shed 65 cents an ounce to US$1,765.20.

At the regional markets, South Korea’s Kospi was up 3.89% to 1,863.09; Japan’s Nikkei 225 was up 0.10% to 9,095.10, Hong Kong’s Hang Seng Index added 0.41% to 20,343.39 and Singapore’s Straits Times Index edged up 0.30% to 2,882.94.

Taiwan’s Taiex fell 0.41% to 7,787.60 and the Shanghai Composite Index lost 0.30% to 2,618.79.

Among the gainers this morning, Nestle rose 50 sen to RM47.90, Petronas Gas 42 sen to RM13.60, Shell and KLK added 30 sen each to RM10.40 and RM21.52, Batu Kawan 26 sen to RM15.90, Fima Corp 25 sen to RM5.82, Genting Plantations 23 sen to RM7.24, MMHE 19 sen to RM6.71 and AutoV 17 sen to RM1.97.

BAT was the top loser and fell 32 sen to RM43.80; UMS was down 16 sen to RM1.51, Ann Joo 13 sen to RM2.67, Sunchirin and Iretex 10 sen each to RM1.45 and 95 sen, QSR nine sen to RM6, Tenaga eight sen to RM5.95 and Kluang seven sen to RM2.53.

The actives included DVM, AirAsia, Dutaland, Flonic, Perdana and KNM