FBM KLCI ENDS MODESTLY HIGHER

The FBM KLCI ended marginally higher on Friday on buying interest in banking and telco stocks. The FBM KLCI closed up 1.75 points, or 0.11% to 1,525.54 after moving between 1,527.50 and 1,523.14. For the week, the benchmark index fell 5.68 points. There were 474 gainers, 450 losers and 471 counters traded unchanged on the Bursa Malaysia. Turnover stood at 2.66 billion shares valued at RM2.01bil. The performance of the FBM KLCI was boosted by buying interest in telcos and banking stocks. Axiata rose 15 sen to RM3.98, Digi added 12 sen to RM4.29 and Maxis gained 10 sen to RM4.57. Hong Leong Bank advanced eight sen to RM18.32, Maybank added four sen to RM8.08, CIMB gained two sen to RM5.10, Public Bank rose two sen to RM4.07 and RHB Bank climbed one sen to RM5.34. On the broader market, KESM surged RM1.06 to RM13.08, Tafiadded 21 sen to RM2.86, Can-One gained 20 sen to RM4.30 and D&O rose 19 sen to RM5.80. Among the losers, Genetec fell 88 sen to RM43.52, Heineken lost 36 sen to RM21.92, Sam Engineering shed 36 sen to RM21 and PPB Group fell 28 sen to RM17.12. Meanwhile, the ringgit is traded marginally higher against the greenback. The local currency is quoted at 4.1788. Brent crude gained 40 cents, or 0.49%, to US$81.64 a barrel while the U.S. West Texas Intermediate rose 36 cents, or 0.46% to US$79.37 a barrel. Elsewhere in the region, Japan’s Nikkei 225 closed up 0.5%, the Shanghai Composite Index gained 1.13%, CSI300 advanced 1.08%, South Korea’s Kospi rose 0.8% and Hong Kong’s Hang Seng index fell 1.07%.

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