KLCI snaps five-day losing streak

KUALA LUMPUR: The FBM KLCI managed to snap its five straight day of losses on Thursday lifted by mild gains in DiGi, AirAsia and selected heavyweights.

However, the broader market remain cautious with declining counters beating advancers nearly two to one.

The KLCI closed just 0.34 of a point up to 1,579.69. Turnover was 1.45 billion shares valued at RM1.46bil. There were 253 gainers, 453 losers and 321 stocks unchanged.

Among the key regional markets, Japan's Nikkei 225 edge up a marginal 0.01% to 9,561.83, Hong Kong's Hang Seng Index added 0.79% to 20,809.71 and Singapore's Straits Times Index rose 0.14% to 2,983.90.

However, Shanghai's Composite Index fell 0.09% to 2,404.70 and Taiwan's Taiex 0.55% to 7,521.35.

Crude palm oil futures for third-month delivery were unchanged at RM3,511. The ringgit strengthened against the US dollar to 3.0508, its highest since April 3.

US light crude oil rose 5.0 cents to US$104.17 and Brent 15 cents to US$119.27 while gold spot added US$5.78 to US$1,649.50.

At Bursa Malaysia, DiGi's 10 sen gain to RM4.06 lifted the KLCI up 1.84 points while AirAsia's seven sen gain to RM3.38 added 0.45 of a point to the index.

United Plantations was the top performer, up 44 sen to RM25.94, Panasonic 40 sen to RM23, Bat 38 sen to RM55.50 and Dutch Lady 20 sen to RM33.90.

Berjaya Corp-WB rose 21.5 sen to 22 sen but the loan stocks Bcorp-LD fell 18.5 sen to 81.5 sen.

Among the index linked stocks, Genting fell 10 sen to RM10.36, dragging the index down by 0.87 of a point while Public Bank's six sen decline to RM13.66 shaved 0.66 of a point from the index.

Country View was the top loser, down 24 sen to 66 sen but with only 800 shares done. Jaya Tiasa lost 17 sen to RM9.41 while SapuraCrest gave up 12 sen to RM5 and Kencana 10 sen to RM3.30. SEGi shed nine sen to RM1.72 following the following the unattractive offer made by Navis Capital Partners Ltd at RM1.714 cash.