KLCI up as Hartalega, Petronas Chemicals gain

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KUALA LUMPUR (Jan 24): The FBM KLCI rose 2.65 points or 0.16%, helped by gains in KLCI-linked stocks including Hartalega Holdings Bhd and Petronas Chemicals Group Bhd as the ringgit weakened against the US dollar.

At 12:30pm, the KLCI settled at 1,690.79. Hartalega settled up 19 sen at RM5.69 while Petronas Chemicals rose 11 sen to RM8.53.

In currency markets, the ringgit was traded at 4.1372 against the US dollar at 1:08pm. The ringgit weakened to current levels from around 4.1010 on Jan 14 this year.

Today, the KLCI rose after the index closed 13.98 points lower yesterday.

Hong Leong Investment Bank Bhd said in a note today that despite the KLCI's sharp fall yesterday, "overall technical readings remain resilient" given that the index continues to close above the support trendline at 1,676.