KUALA LUMPUR: Sime Darby, Genting Bhd underpinned the FBM KLCI’s firmer close on Tuesday, tracking the key Asian markets while DRB-Hicom scaled to the highest since September 1997.
At 5pm, the KLCI was up 4.89 points or 0.27% to 1,838.04. Turnover was 3.91 billion shares valued at RM3.02bil. There were 649 gainers, 357 losers and 402 counters unchanged.
On the external front, Hong Kong stocks hit another fresh record on Tuesday, aided by continuous inflows of mainland money, and strength in IT and financial stocks, Reuters reported. It jumped 1.66% to 32,930.70.
Other key Asian indices closed higher with Jakarta Composite up more than 2%, Shanghai’s Composite Index added 1.29% and South Korea’s Kospi 1.38%.
The ringgit rose 0.15% against the US dollar to 3.9278; was up 0.05% to the Singapore dollar to 2.9774 and gained 0.12% to the euro at 4.8087. However, it slipped 0.3% to the pound sterling at 5.4831.
Foreign funds were net buyers at RM254.4mil while local institutions were net sellers at RM239.79mil. Joining in the net selling were local retailers at RM14.61mil.
At Bursa, Sime Darby rose 10 sen to RM2.90 and added 1.2 points to the KLCI while Sime Plantation added one sen to RM5.51. Sime Property flat at RM1.60.
Genting Bhd rose 10 sen to RM9.82 but Genting Malaysia shed four sen to RM5.47, Tenaga was up four sen to RM15.86.
DRB-Hicom jumped 27 sen to RM2.73 with 24.8 million shares done as investors were positive about its prospects.
Oil prices rose on Tuesday, lifted by healthy economic growth as well as the ongoing supply curtailments by a group of exporters including OPEC and Russia. US oil rose 36 sen to US$63.93 and Brent was up 41 cents to US$69.44.
Petronas Gas added 16 sen to RM18.16, Petronas Chemical three sen to RM8.03 while Petronas Dagangan was flat at RM24.80.
Petron fell 40 sen to RM12.32 and Hengyuan lost 10 sen to RM14.20.
Sumatec was the most active with 390 million shares done, shedding one sen to 10.5 sen, UMW-OG fell 0.5 sen to 34.5 sen while Sapura Energy was flat at 81.5 sen. Hibiscus added three sen to RM1.07.
Axiata and Digi rose three sen each to RM5.59 and RM4.92 while Maxis gained one sen to RM6.60 and Telekom was flat at RM6.
As for consumer stocks, BAT added 78 sen to RM32.78 and Heineken 30 sen to RM19.12.
Glove makers climbed with Top Glove surging 64 sen to RM9.79 and Hartalega 32 sen to RM11.90.
Among the banks, Ambank rose five sen to RM4.80, Maybank two sen higher at RM9.89, CIMB edged up one sen to RM6.90, Public Bank and RHB Bank were flat at RM20.96 and RM5.32.
Hong Leong Bank fell three sen to RM17.98 but HLFG gained 20 sen to RM18.10.
Maybank Investment Bank Research sees HLFG as a cheaper proxy to Hong Leong Bank and at its current price, investors would be getting its insurance business for free.