KLCI rises 0.76% as select blue chips lift

KLCI rises 0.76% as select blue chips lift
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KUALA LUMPUR (Feb 15): The FBM KLCI rose 0.76% at the midday break today, lifted by select blue chips in line with the gains at most regional markets.

At 12.30pm, the FBM KLCI rose 12.61 points to 1,656.35.

Gainers outpaced losers by 422 to 252, while 302 counters traded unchanged. Volume was 900.11 million shares valued at RM588.81 million.

The top gainers included United Plantations Bhd, Kuala Lumpur Kepong Bhd, Petronas Gas Bhd, British American Tobacco (M) Bhd, Nestle (M) Bhd, Carlsberg Brewery (M) Holdings Bhd, Far East Holdings Bhd, SAM Engineering & Equipment (M) Bhd and Guinness Anchor Bhd.

The actively traded stocks included Hubline Bhd, Tiger Synergy Bhd, Berjaya Corporation Bhd, XOX Bhd, APFT Bhd, Daya Materials Bhd and AirAsia X Bhd.

The decliners included Shell Refining Company (Federation of Malaya) Bhd, Scientex Bhd, Sarawak Oil Palms Bhd, LPI Capital Bhd, Hong Leong Financial Group Bhd, Power Root Bhd and Atta Global Group Bhd.

Asian shares bounced to snap a five-session losing streak on Monday as a strong fix for China's yuan eased devaluation concerns and Shanghai stocks returned from the Lunar New Year holidays with only modest losses, according to Reuters.

The Shanghai Composite Index eased 2.2% in its first session since Feb 5, a relatively benign move given the wild swings seen worldwide recently, it said.

BIMB Securities Research said markets in Asia dropped sharply on Friday, with the Nikkei tumbling, after an overnight sell-off on Wall Street as oil remained volatile and concerns about how central banks' easing measures will affect banks' earnings.

It said Japan's Nikkei 225 dropped 760.78 points, or 4.84%, to 14,952.61, falling for seven of the past eight sessions to its lowest close since October 2014.

The research house said that in line with other regional market, the FBM KLCI ended lower, slipped 0.21 points or 0.01% to 1,643.74.

"Trading participation shows net selling by local institutions while foreign institutions and local retail were net buyers.

"We expect the local market to trade sideways hovering around 1,638–1,648," it said.