KLCI tracks Asian share gains

KLCI tracks Asian share gains
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KUALA LUMPUR (Nov 20): The FBM KLCI rose 1.83 points or 0.1% as global economic recovery was seen to be on track.

At 5pm, the KLCI closed at 1,661.89. Blue chips that helped the KLCI eke out gains included Petronas Dagangan Bhd and Tenaga Nasional Bhd.

Petronas Dagangan was Bursa Malaysia's ninth-largest gainer.

Etiqa Insurance & Takaful head of research Chris Eng told theedgemarkets.com that the KLCI's gain, while nothing phenomenal, was supported by the sentiment that global economic recovery was on track.

"Meanwhile, the weak oil price has been offset by a firmer ringgit," Eng said over telephone. The ringgit strengthened to 1.31% to 4.2855 as at 5pm.

The KLCI rose with Asian share markets. Hong Kong's Hang Seng gained 1.13% while Japan's Nikkei 225 closed 0.1% higher.

Across Bursa Malaysia, 2.97 billion shares worth RM1.96 billion changed hands. There were 441 gainers versus 426 decliners.

Top decliners included Warisan TC Holdings Bhd and Fraser & Neave Holdings Bhd. Most-active entities included Instacom Group Bhd and Globaltec Formation Bhd.

(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)