FBMKLCI At Week High Boosted By Genting's 33 Months High
Malaysia’s FTSE Bursa Malaysia KLCI Index rose for the first time in four days, adding 10.82, or 0.8 per cent, to close at 1,360.15, its steepest gain since June 21. The index was little changed this week, falling less than 0.1 per cent, its second weekly decline.
Malaysia’s FTSE Bursa Malaysia KLCI Index rose for the first time in four days, adding 10.82, or 0.8 per cent, to close at 1,360.15, its steepest gain since June 21. The index was little changed this week, falling less than 0.1 per cent, its second weekly decline.The FBM KLCI rebounded, aided by gains in Genting Bhd after AmResearch raised its fair value for the stock to RM10.67 from RM7.66 previously.
IOI Corp, Malaysia’s second-biggest listed palm oil producer, added 1.2 per cent to RM5.15, the largest increase since July 6. The company was raised to “overweight” from “neutral” by JPMorgan Chase & Co analysts led by Simone Yeoh, who said they were raising their forecasts for crude palm oil prices. The analysts also increased their share-price estimate for IOI to RM6.00 from RM5.30.
The Finance Index jumped 45.29 points to 12,214.73, the Plantation Index added 31.82 points to 6,498.34 and the Industrial Index rose 2.95 points to 2,651.21.The FBM Emas Index surged 72.02 points to 9,212.06, the FBM70 Index gained 61.38 points to 9,194.7 but the FBM Ace Index shed 9.07 to 3,813.26.Advancers thrashed decliners 502 to 228 while 268 counters were unchanged, 375 untraded and 33 others were suspended.Total volume increased to 995.997 million shares, worth RM1.360 billion, from 798.188 million shares, worth RM1.088 billion, registered yesterday.
Among actives, Sinotop eased one sen to 16 sen, Mieco added seven sen to 86 sen, Time DotCom was flat at 66.5 sen and SIG Gases perked three sen to 72 sen. Heavyweights, Maybank rose six sen to RM7.72, CIMB climbed three sen to RM7.31 while both Sime and Maxis added two sen each to RM7.62 and RM5.30, respectively.
GentingS-C6 added 27 sen to 50.5 sen and Genting Plantation rose 21 sen to RM7.34 and GenS-C2 6.5 sen higher at 14 sen.
F&N managed to rebound 40 sen to RM13.98 after coming under some selling pressure over the week. Glove maker Hartalega added 15 sen to RM7.90.
Mieco rose seven sen to 86 sen but it was off its intra-day high which saw the share price rallying to a three-year high of 96 sen.
The stock attracted heavy trading on news that BANDAR RAYA DEVELOPMENTS BHD confirmed it was in talks with a Chinese party for a potential collaboration with Mieco. BDRB owns 56.76% of Mieco.
KL Kepong fell the most, down 30 sen to RM16.80 but with just 542,900 shares done only. Nestle lost 20 sen to RM39 while Hong Leong Bank shed 10 sen to RM8.70.
F&N managed to rebound 40 sen to RM13.98 after coming under some selling pressure over the week. Glove maker Hartalega added 15 sen to RM7.90.
Mieco rose seven sen to 86 sen but it was off its intra-day high which saw the share price rallying to a three-year high of 96 sen.
The stock attracted heavy trading on news that BANDAR RAYA DEVELOPMENTS BHD confirmed it was in talks with a Chinese party for a potential collaboration with Mieco. BDRB owns 56.76% of Mieco.
KL Kepong fell the most, down 30 sen to RM16.80 but with just 542,900 shares done only. Nestle lost 20 sen to RM39 while Hong Leong Bank shed 10 sen to RM8.70.
HAPPY WEEKEND2ALL
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