BCHB, Shell lift blue chips; F&N at 12-month low

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KUALA LUMPUR: BCHB and Shell lifted blue chips at midday on Thursday, but the overall market displayed some degree of caution ahead of the final week of corporate earnings.

At midday, F&N had fallen RM1.30 to RM7.70, its lowest since March last year as it stood to lose about RM420 million in revenue next year as The Coca-Cola Company was not extending the bottling and distribution agreements.

However, Halim Mazmin rallied 18.5 sen or 46% to 58.5 sen to June last year on plans by its major shareholders to take it private at 60 sen a share.

The KL Composite Index rose 4.16 points to 899.39 points. Turnover was 167.19 million shares valued at RM293.43 million. There were 141 gainers, 200 losers and 165 counters unchanged.

Asian markets were mostly lower led by Hong Kong’s Hang Seng Index which fell 0.41% to 12,962.80 points, Singapore’s Straits Times Index gave up 0.91% to 1,636.06 points but Shanghai’s Composite Index rose 0.7% to 2,225.3 points and Japan’s Nikkei 225 0.84% higher at 7,597.82 points.

Light crude oil rose 12 cents to US$37.53 (RM135.11) while crude palm oil third-month futures fell RM26 to RM1,849. The ringgit was quoted at RM3.656 to the US dollar.

BCHB rose 25 sen to RM6.70 with 4.79 million shares done, while Shell gained 15 sen to RM9. BAT added 25 sen to RM44. Sime Darby and Puncak gained 10 sen each to RM5.70 and RM2.92.

Compugates was the most active with 11.57 million shares done, rising 0.5 sen to 17 sen.

The decliners were Nestlé (down 25 sen to RM27.50), Carlsberg (down 18 sen to RM3.62), Batu Kawan (falling 15 sen to RM8.25) and Toyo Ink (nine sen lower to RM1.60).