FBM KLCI gets 11th-hour boost from CIMB, IOI Corp

FBM KLCI gets 11th-hour boost from CIMB, IOI Corp
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KUALA LUMPUR (Aug 24): The FBM KLCI rose 2.56 points or 0.1% on late buying of CIMB Group Holdings Bhd and IOI Corp Bhd shares. CIMB and IOI Corp helped the KLCI erase losses at the 11th hour.

At 5pm, the KLCI closed at 1,775.50 points after falling to its intraday low at 1,768.52 points. IOI Corp rose 14 sen to RM4.59 to become Bursa Malaysia's sixth-largest gainer.

“Crude palm oil has been on a rally recently, and this — coupled with the fact that IOI Corp has yet to announce the latest quarterly report, may add to the positive sentiment,” Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarkets.com.

CIMB shares fell two sen to RM6.72 after falling to its intraday low at RM6.51 ahead of the financial services entity's second quarter results announcement this Monday.

Across Bursa Malaysia today, 2.13 billion shares worth RM1.98 billion changed hands. A total of 425 counters ended higher versus 356 decliners.

APFT Bhd was the most-actively traded counter with some 251 million shares transacted. The stock fell 0.5 sen to close at 2.5 sen.