KUALA LUMPUR: Penny stocks with interests in oil and gas (O&G) saw active trade as light crude oil hovered above US$72 per barrel at the midday break on June 11.

At 12.30pm, the KL Composite Index rose 1.13 points to 1,084.1. Turnover was 1.31 billion shares valued at RM1.07 billion.

There was a convincing buying interest in lower liners and penny stocks, which saw advancing counters beating decliners 360 to 282 while 219 stocks were unchanged

Most key Asian markets were off their morning lows. Japan’s Nikkei 225 rose 0.01% to 9,992.71, Shanghai’s Composite Index gained 0.29% to 2,824.50, Hong Kong’s Hang Seng Index added and Singapore’s Straits Times Index.

Light crude oil rose 75 cents to US$72.08 while crude palm oil third-month futures rose RM16 to RM2,515 per tonne.

Institutional dealers said there was heavy trading interest in lower liners and penny stocks including those linked to O&G, shipping related and Selangor water concessionaires.

Puncak Niaga rose the most, adding 27 sen to RM3.22 while KPS added eight sen to RM2.22.

SP Setia advanced 22 sen to RM4.52, UMW and Ta Ann 20 sen each to RM5.80 and RM4.40 while Lafarge gained 15 sen to RM5.60.

Transmile fell two sen to RM1.53 while Measat rose six sen to RM2.08. The two companies were queried by the Bursa Malaysia Securities over the price surge the previous day.

SAAG was the most active with 69 million shares done, rising one sen to 37.5 sen. Scomi gained 3.5 sen to 80.5 sen and Perisai 3.5 sen to 67.5 sen. Ramunia added three sen to 65.5 sen.

BAT fell 25 sen to RM43.75, Genting 20 sen to RM5.85, Bintulu Port and MISC-F 15 sen each to RM6 and RM8.40 while F&N shed 10 sen to RM9.