KLCI gains in mid-day break backed by heavyweights

KUALA LUMPUR: The FBM KLCI extended its gains on Monday after last week’s mid-week close, pushed up by heavyweights such as Maybank and Tenaga Nasional, and window dressing activities ahead of the new year.

The KLCI was 10.16 points or 0.61% higher at 1,673.67 from last Wednesday’s close. Bursa Malaysia was closed on Thursday and Friday for birth of Prophet Mohammad and Christmas holidays. 

Shares in Maybank were 9 sen higher to RM8.39, pulling the index 1.47 points up, while Tenaga Nasional was up 12 sen to RM13.32 pushing the index up 1.14 points. IHH Healthcare pulled the index up 1.11 points up, gaining 8 sen to RM6.48.

Key regional markets were mixed due to losses in mainland China and Japan.
At Bursa Malaysia, turnover was 1.009 billion shares valued at RM783.5mil. 

The broader market was stronger with advancers outpacing decliners. There were 412 gainers versus 373 losers while 308 stocks remained unchanged.

Both Brent crude and US crude were last trading slightly lower at US$37.76 per barrel and US$37.81 per barrel respectively. 

Wall Street indices closed lower on Thursday with the DJIA and S&P500 lost 0.29% and 0.16% to end at 17,552.17 and 2,060.99 respectively. 

European stocks ended flat in the shortened Christmas Holiday session on Thursday with thin volumes as the oil price remained choppy. 

Among the top gainers at FBM KLCI at 12.30pm were Petronas Dagangan up 60 sen to RM24.60, Shell up 30 sen  to RM5.20, United U-Li Corp up 29 sen to RM5.09. 

Heading losers were P.I.E. Industrials down 36 sen to RM10.44, LayHong down 22 sen to RM6.00 and Warisan TC down 19 sen to RM2.23. 

The ringgit weakened to RM4.3005 compared to RM4.2985 last Friday.

Crude palm oil’s benchmark third-month contract for March delivery fell RM4 to RM2,483 per tonne on Monday from RM2,487 last Wednesday. 

Among the key regional markets:
Japan's Nikkei 225 is up 0.30% to 18,825.77;
Hong Kong's Hang Seng Index is down 0.41% to 22,047.44;
Shanghai Composite Index down 0.20% to 3,620.77;
Taiwan's Taiex gained 0.10% to 8,371.31;
South Korea's Kospi down 0.80% to 1,974.66 and;
Singapore's Straits Times Index is up 0.08% to 2,879.92 points.

Spot gold fell 0.20% to US$1,073.99 per troy ounce.