FBM KLCI kicks off the year of the Metal Ox with 0.5% gain

FBM KLCI kicks off the year of the Metal Ox with 0.5% gain
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KUALA LUMPUR (Feb 15): The FBM KLCI kicked off the first trading day after the Lunar New Year break, with a gain of 0.54% or 8.65 points to settle at 1,608.07.

The local benchmark index climbed after constituents MISC Bhd, RHB Bank Bhd and Genting Malaysia (GenM) posted gains.

MISC finished 3.67% or 23 sen higher at RM6.49, valuing it at RM28.97 billion. RHB was up 3.01% or 16 sen higher at RM5.48, translating into a market value of RM21.98 billion. GenM was 2.61% or seven sen higher at RM2.75, giving it a market capitalisation of RM16.33 billion.

Rakuten Trade’s Head of Equity Sales Vincent Lau said the FBM KLCI climb today was in line with other regional indices.

The Nikkei 225 was up 1.91% or 564.08 points higher at 30,084.15 points. Across the causeway, the Singapore Straits Times Index concluded the trading day 0.27% or 7.89 points higher at 2,933.37 points.

Reuters reported Asian shares advanced to record highs today, as successful Covid-19 vaccine rollouts globally raised hopes of a rapid economic recovery amid new fiscal aid in the US, while oil prices rose on heightened tensions in the Middle East.

“Oil prices climbed to the highest since January 2020, on hopes the US stimulus will boost the economy and fuel demand.

"Prices were also buoyant after a Saudi-led coalition fighting in Yemen said it intercepted an explosive-laden drone fired by the Iran-aligned Houthi group, raising fears of fresh Middle East tensions.

"Brent crude rose US$1.20 to US$63.66 a barrel. US crude oil gained US$1.40 to US$60.88,” it reported.

Across Bursa Malaysia, 10.02 billion shares worth RM4.69 billion were traded today. Market breadth was firmly in the positive, with 798 counters posting gains, versus the 535 that went unchanged and 293 decliners.

Top actives included Dagang NexChange Bhd (DNeX), Luster Industries Bhd and Techna-X Bhd. Top value gainers today were Genetec Technology Bhd, Dutch Lady Milk Industries Bhd and UWC Bhd. Topping the biggest value losers list were Hartalaga Holdings Bhd, Time dotCom Bhd and Hong Leong Financial Group Bhd (HLFG).

From an index perspective, the FBM ACE, Energy and Technology indices were the top performers today. The FBM ACE Index climbed 3.2% or 348.01 points to 11,231.24 points. The Energy Index, which was buoyed by gains in oil prices today, was up 3% or 25.85 points at 887.65 points. The Technology Index closed 2.75% or 2.41 points higher at 90.08 points.

Tan Choe Choe