KLCI rises 0.63% as banks, blue chips lift

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KUALA LUMPUR (Dec 26): The FBM KLCI rose 0.63% at the midday break on Friday, lifted by index-linked banking stocks and select blue chips amidst thin trade.

At 12.30, the FBMKLCI rose 11.18 points to 1,761.65.

Gainers led losers by 290 to 239, while 266 counters traded unchanged. Volume was 365.70 million shares valued at RM303.81 million.

The top gainers included Fraser & Neave Holdings Bhd, British American Tobacco (M) Bhd, Dutch Lady Milk Industries Bhd, Hong Leong Financial Group Bhd, Public Bank Bhd, United Plantations Bhd and Malayan Banking Bhd.

The actively traded counters included Hubline Bhd, Tiger Synergy Bhd, Icon Offshore Bhd, Kronologi Asia Bhd, JobStreet Corporation Bhd, Sumatech Resources and Dialog Group Bhd.

The top losers included Lafarge Malaysia Bhd, Ibraco Bhd, Guinness Anchor Bhd, Tasek Corporation Bhd, Kim Loong Resources Bhd, Wing Tai Malaysia Bhd and Malaysia Airports Holdings Bhd.

Hong Leong IB Research said that while key blue chips should stay buoyant on year-end window dressing support, overall market was likely to remain choppy (induced by thin volume in a subdued market) due to profit taking consolidation and persistent swings in crude oil prices.

“Key supports are situated at 1,715-1,732 while resistances are near 1,757-1,766,” it said.