Shares on Bursa Malaysia closed higher in Friday’s trade following news on rising consumer spending after China’s new lending doubled in May. The central bank of China said today the country’s new loans jumped to 664.5 billion (USD97 billion) from 318.5 billion yuan a year earlier.
It said the data added to accelerating fixed -asset investment and surging auto and property sales in signalling that the government is successfully countering a slump in exports, according to Bloomberg.
At 5pm, the benchmark KLCI was marginally up by 1.19 points, or 0.11% to end the last trading day of the week at 1,090.15. At Bursa Malaysia, 515 counters were up, 237 were down while 214 others were traded unchanged.
There were 2.18 billion shares done with a total value of RM1.90 billion.
Property-related stocks were the focus in today’s trading with Talam, Land & General, Mulpha, Asian Pac, Olympia, Landmarks, IJM Land and IGB.
Talam added 0.5 sen to 12sen, Mulpha gained 5 sen to 63 sen, Land & General was 4 sen higher at 31 sen, Asia Pac rose 1.5 sen to 13.5 sen, Landmarks climbed 18 sen to RM1.45, IJM Land advanced 12 sen to RM1.62 and IGB added 9 sen to RM1.79.
Among bank stocks, EON Capital climbed 70 sen to RM4.82, Maybank gained 25 sen to RM5.95, Hong Leong Bank was 10 sen higher at RM5.75, AMMB rose 2 sen to RM3.46, Public Bank up 5 sen to RM9.00 while BCHB dropped 5 sen to RM9.15.
NESTLE added 25 sen to RM31.25, BAT shed 50 sen to RM44.25, DIGI dropped 40 sen to RM21.80, MISC fell 25 sen to RM8.50 while TNB lost 5 sen to RM7.85.
Among oil and gas counters, Shell declined 20 sen to RM10.30, Wah Seong dropped 7 sen to RM1.88 and KNM was unchanged at RM1.04.
Plantation counters KL Kepong lost 10 sen to RM11.90 and Sime fell 5 sen to RM7.00.
Nymex crude oil dropped 50 cents to US$72.18 per barrel.
Crude palm oil third-month futures shed RM17 to RM2,468 per tonne.
The ringgit was quoted at 3.504 to the US dollar.