KUALA LUMPUR: Foreign fund buying of key stocks including Maxis and Maybank helped push the FBM KLCI up more than 10 points at the close of trade on Tuesday amid the firmer broader market while investor sentiment perked up also due to strengthening ringgit.
At the close, the KLCI was up 10.21 points or 0.61% to 1,682.37. Turnover was 2,31 billion shares valued at RM2.34bil. There were 549 gainers, 350 losers and 296 counters unchanged.
Stock market data showed foreign funds were net buyers at RM126mil while local institutions and local retailers were net sellers at -RM84mil and -RM42mil.
The ringgit firmed up against the US dollar to 4.2327 from the previous close of 4.2600 while it slipped against the pound sterling to 6.3992 from 6.3988. It was firmer against the Singapore dollar at 3.0026 from 3.0167.
On the external front, China stocks posted modest gains as persistent signs of weakness in the economy and liquidity concerns reined in any feel-good mood generated by the International Monetary Fund's decision to grant the yuan reserve currency status, Reuters reported.
However, Hong Kong shares jumped nearly 2% on Tuesday, their biggest one-day percentage gain in almost three weeks, as investors responded positively to news that the yuan would be granted global reserve currency status.
At Bursa Malaysia, Maxis rose 30 sen to RM6.86 and added 3.83 points to the KLCI while DiGi gained seven sen to RM5.07 and TM was three sen higher at RM6.54 but Axiata shed one sen to RM6.12.
Among the banks, Maybank rose 13 sen to RM8.45 and pushed the KLIC up 2.16 points while RHB Cap’s 22 sen gain to RM5.78 added 1.16 points. AmBank rose 13 sen to RM4.72 and CIMB five sen to RM4.55 while Public Bank was flat at RM18.38. HLFG fell 10 sen to RM13.90 and Hong Leong Bank lost 20 sen to RM13.36.
Tenaga shed four sen to RM13.32 and Westports 11 sen to RM4.19 but Genting Bhd added three sen to RM7.23 and MISC nine sen higher at RM9.33.
Malaysia Airports managed to stage a recovery from a recent decline to jump 17 sen to RM5.59.
Crude palm oil for third-month delivery gained RM8 to RM2,353 per tonne. However, Genting Plantations fell 26 sen to RM10, KL Kepong lost 16 sen to RM22.78, PPB Group 10 sen to RM15.70 and IOI Corp three sen lower at RM4.32 but heavyweight Sime Darby gained six sen to RM7.97.
US light crude oil rose 20 cents to US$41.85 and Brent 13 cents higher at US$44.74. SK Petro regained its footing to add 10 sen to RM2.24 and nudged the KLCI up 1.02 points, Petronas Chemicals added six sen to RM6.80, Petronas Gas four sen higher at RM22.96 and Petronas Dagangan was flat at RM25.
Among the key regional markets,
Japan’s Nikkei 225 was up 1.34% to 20,012.40;
Hong Kong’s Hang Seng Index jumped 1.75% to 22,381.35;
Shanghai’s Composite Index rose 0.32% to 3,456.31;
Taiwan’s Taiex advanced 1.71% to 8,463.30;
South Korea’s Kospi gained 1.6% to 2,023.93 and
Singapore’s Straits Times Index inched up 0.43% to 2,868.29.
Spot gold rose US$6.07 to US$1,070.84.
Source: http://www.thestar.com.my/business/business-news/2015/12/01/late-buying-of-maxis-helps-klci-advance-10-pts/?style=biz
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