Petronas Chemicals, Genting lead KLCI to higher close – Business News


KUALA LUMPUR: Blue chips closed higher on Monday, underpinned by gains in Petronas Chemicals and Genting Malaysia but the broader market showed signs of weakness.

At 5pm, the FBM KLCI was up 3.42 points or 0.18% to 1,825.91. Turnover was 5.4 billion shares valued at RM3.33bil. There were 378 gainer, 685 losers and 376 counters unchanged.

The ringgit rose 0.42% against the US dollar to 3.9555 while it gained 0.75% against the pound sterling to 5.4383 but fell 0.63% against the euro to 4.8404 and dipped 0.16% against the Singapore dollar to 2.9951.

On the external front, Hong Kong’s benchmark stock index fell on Monday, snapping a 14-day winning streak, dragged down by a retreat in property shares and index heavyweight Tencent Holdings, Reuters reported. However, the other key Asian markets ended the day on a firmer note.

US light crude oil fell 14 cents to US$64.16 and Brent lost 25 cvents to US$69.62. 

Petronas Chemicals was the biggest mover on the KLCI as it rose 10 sen to RM8.18 and pushed the KLCI up 1.42 points.

Petronas Gas fell 10 sen to RM18.90. After market close, it announced the Energy Commission has confirmed the current tariff for the utilisation of the three gas utilisation system will be maintained until the end of 2018.

Petronas Dagangan lost four sen to RM24.90.

Sumatec was the most active with 880 million shares done, up 3.5 sen to 10.5 sen. Its warrants WB added 1.5 sen to four sen.

UMW Oil and Gas shed 0.5 sen to 41.5 sen while Sapura Energy lost two sen to 88 sen.

Refiners Hengyuan fell RM1.74 to RM15.14 and Petron 46 sen lower at RM12.78.  

Among the other KLCI stocks, Genting Malaysia added 11 sen to RM5.57 and lifted the index by 1.16 points. Genting Bhd shed three sen to RM9.33. IHH and Tenaga four sen each to RM5.94 and RM15.82.

As for telcos, Digi rose five sen to RM4.75, Axiata was flat at RM5.55, Maxis shed one sen to RM6 while Telekom was down five sen to RM5.95.

As for consumer stocks, Ajinomoto gained 22 sen to RM20.86, BAT 20 sen to RM34, Nestle 20 sen to RM104.20 and Dutch Lady 16 sen higher at RM60.36.

Crude palm oil for third month delivery rose RM15 to RM2,551 per tonne. Chin Tek was the top gainer, up 28 sen to RM7.98, PPB Group added two sen to one sen to RM4.77 while IOI Corp was flat at RM4.64.

Sime Darby added two sen to RM2.72 while Sime Plantation edged up one sen to RM5.54 and Sime Property lost five sen to RM1.54.

Among the banks, RHB Bank added two sen to RM5.20, CIMB and AmBank one sen each to RM6.79 and RM4.77 while Public Bank was flat at RM20.88. Hong Leong Bank lost six sen to RM17.48.

UMW gained 20 sen to RM6.80, LPI 18 sen to RM20.06 while CCM added 13 sen to RM60.36.

As for tech related stocks, Vitrox fell 25 sen to RM6.22 and KESM 22 sen lower to RM20.84.


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