KLCI rises 0.12%, tracks regional gains

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KUALA LUMPUR (July 25): The FBM KLCI advanced 0.12% at the midday break, tracking regional gains, lifted by select index-linked blue chips.

At 12.30pm, the FBM KLCI added 2.20 points to 1,765.13. The index had earlier slipped to its intra-morning low of 1,760.77.

Gainers led losers by 344 to 243, while 612 counters traded unchanged. Volume was 2.28 billion shares valued at RM1.34 billion.

The top gainers included Petronas Dagangan  Bhd, United Plantations Bhd, Panasonic Manufacturing Malaysia Bhd, KESM Industries Bhd, Hong Leong Industries Bhd, British American Tobacco (M) Bhd, Tenaga Nasional Bhd and Gamuda Bhd.

The actives included Sapura Energy Bhd, Velesto Energy Bhd, Sumatec Resources Bhd, Malaysian Resources Corp Bhd, Cuscapi Bhd, Hibiscus Petroleum Bhd and Icon Offshore Bhd.

The decliners included Nestle (M) Bhd, Carlsberg Brewery Malaysia Bhd, Padini Holdings Bhd, ViTrox Corp Bhd, Enra Group Bhd, UMW Holdings Bhd and Genting Bhd.

Asian stocks were higher on Wednesday, supported by strong Wall Street earnings and hopes China's government spending would boost growth but trade tensions remain in focus ahead of a meeting between the U.S. and European Commission presidents, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2 percent, it said.

Affin Hwang Capital Research said the FBM KLCI Index gained 4.97 points in the last session.

“Our local index is expected to continue its rise again today in line with positive sentiments surrounding the global arena.

“The FBM KLCI Index likely to move sideways with slight upward bias in the near-term,” he said.