KLCI rises 0.21% on firmer manufacturing data

-A +A

KUALA LUMPUR (Oct 1): The FBM KLCI rose 0.21% at mid-morning today as Malaysia's manufacturing purchasing managers' index (PMI) rose to a four-month high in September.

According to IHS Markit, Malaysian manufacturing activity, as measured by the PMI, rose to 47.9 in September, up from 47.4 in August.

At 10am, the FBM KLCI gained 3.31 points to 1,587.22.

Gainers led losers by 258 to 155, while 244 counters traded unchanged. Volume was 390.13 million shares valued at RM136.12 million.

The top gainers included Kuala Lumpur Kepong Bhd, Heineken Malaysia Bhd, Prolexus Bhd, Nestle (M) Bhd, MISC Bhd, Scientex Bhd, Sime Darby Plantation Bhd, Tenaga Nasional Bhd and Amway (M) Holdings Bhd.

The actives included Eduspec Holdings Bhd, XOX Bhd, Komarkcorp Bhd, Sapura Energy Bhd, Sumatec Resources Bhd, Bumi Armada Bhd, Prolexus and Green Packet Bhd.

The decliners included UEM Edgenta Bhd, British American Tobacco (M) Bhd, GHL Systems Bhd, Inari Amertron Bhd, Telekom Malaysia Bhd, Pentamaster Corp Bhd and Mesiniaga Bhd.

Global share prices ticked up on Tuesday as some investors clung to hopes that China and the United States could work towards reaching a deal on trade and other issues in the fourth quarter, according to Reuters.

Japan's Nikkei rose 0.6% while MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.11%, it said.

Hong Leong IB Research said although sentiment has turned marginally positive, uncertain issues such as trade discussion between US and China that will be held in Washington on Oct 11 and developments on Brexit may limit the upside potential on global stock markets and Wall Street.

Resistance will be set along 27,200 for the Dow Jones.

"At the FBM KLCI, we believe the trading tone will remain subdued over the near term awaiting fresh leads from the upcoming Budget 2020 (Oct 11) as well as the developments on the US-China trade front.

"In the meantime, we opine that selected technology and construction stocks will extend its positive trading sentiment following a decent surge in trading volumes and prices recently," it said.