KLCI rises 0.66%, crosses 1,700 level

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KUALA LUMPUR (Feb 19): The FBM KLCI rose 0.66% and crossed the 1,700 level at the midday break today, lifted by gains at select index-linked blue chips.

At 12.30pm, the FBM KLCI rose 11.09 points to 1,703.83.

Gainers led losers by 393 to 296, while 380 counters traded unchanged. Volume was 1.64 billion shares valued at RM1.03 billion.

The top gainers included Heineken Malaysia Bhd, Dutch Lady Milk Industries Bhd, Hong Leong Industries Bhd, Petronas Chemicals Group Bhd, Ajinomoto (M) Bhd, Mi Technovation Bhd, Petronas Dagangan Bhd, Hong Leong Bank Bhd, Top Glove Corp Bhd and Gamuda Bhd.

The actives included Sapura Energy Bhd, Bumi Armada Bhd, EA Holdings Bhd, Dagang NeXchange Bhd, Seacera Group Bhd, TRC Synergy Bhd and Prestariang Bhd.

The decliners included British American Tobacco (M) Bhd, Nestle (M) Bhd, Southern Steel Bhd, Press Metal Aluminium Holdings Bhd, Malaysian Pacific Industries Bhd, Tong Herr Resources Bhd and AirAsia Group Bhd.

Asian shares hovered near four-month highs on Tuesday, supported by hopes that Sino-US trade talks were making progress and expectations of policy stimulus from central banks, according to Reuters.

Investor confidence was bolstered by mild gains in European stocks as US markets were shut on Monday for a public holiday, it said.

CIMB Retail Research said that taking cue from the positive performance across the regional markets, the local bourse was marginally up by 3.9 points on Feb 18.

"The market breadth turned positive yesterday, partially underpinned by the rally in oil prices last Friday.

"Shares on Bursa may continue to engage in an extended range bound trading. Resistance: 1,706 & 1,725. Support: 1,680 & 1,666," it said.