KLCI gains 0.39%, tracks regional markets

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KUALA LUMPUR (Aug 7): The FBM KLCI rose 0.39% at mid-morning today, lifted by index-linked blue chips and tracking the steady regional markets.

At 10am, the FBM KLCI rose 7.04 points to 1,786.79.

Gainers led losers by 324 to 185, while 288 counters traded unchanged. Volume was 622.91 million shares valued at RM300.16 million.

The gainers included British American Tobacco (M) Bhd, IJM Plantations Bhd, Petronas Gas Bhd, Scientex Bhd, Ajinomoto (M) Bhd, IHH Healthcare Bhd, Hengyuan Refining Company Bhd, Hap Seng Consolidated Bhd, Press Metal Aluminium Holdings Bhd and Fraser & Neave Holdings Bhd.

The actives included Borneo Oil Bhd, Sino Hua-An International Bhd, Frontken Corp Bhd, UCrest Bhd, Iris Corp Bhd, DGB Asia Bhd, Sapura Energy Bhd and Advance Synergy Bhd.

The losers included Petronas Dagangan Bhd, Nestle (M) Bhd, Malaysia Airports Holdings Bhd, Padini Holdings Bhd, Selangor Properties Bhd, Gas Malaysia Bhd and RHB Bank Bhd.

Asian stocks were largely steady on Tuesday, with worries over the US-China trade conflict offsetting support from earnings-led gains on Wall Street, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat, it said.

Hong Leong IB Research in a traders' brief said the better-than-expected reporting season in the US should be able to stabilise the market sentiment, at least for the near term.

"However, traders might turn their focus to the trade developments as a hearing on the levies is scheduled on Aug 20-23. Also, oil prices will be closely watched as the first round of US sanctions against Iran goes into effect.

"On the local front, market is likely to stay cautious and trend sideways ahead of the uncertain August reporting month.

"However, the near-term catalysts that traders could be focusing [on] will be the oil prices and water-related stocks after the recent conclusion of Selangor's water industry restructuring exercise," it said.