KLCI inches to highest since May 23


: Bursa closed above the psychological level of 1,800 points on Thursday after a mostly positive session in Asia that saw shrug off the ongoing trade war.

The FBM KLCI was in the green throughout most of the trading sessions before closing 0.22 of a point higher to 1,804.95, the highest since May 23. The market traded within a range of 8.29 points between an intra-day high of 1,811.29 and a low of 1,803 during the session.

There were 480 gainers, 432 losers and 420 counters traded unchanged on the Bursa Malaysia. Turnover stood at 2.308 billion shares valued at RM2.289bil.

Half of the KLCI-component stocks were traded lower today, 12 counters advanced while three counters remained unchanged.

Dealers said although foreign funds inflows into Malaysian equities were gaining momentum, the performance of our local bourse was muted as lack of fresh catalyst.

Petronas Chemicals was the biggest mover among the component stocks, increasing 1.77%, or 16 sen to RM9.20, its highest in a year. The counter pushed the up by 2.277 points.

Tenaga Nasional rose 20 sen to RM15.78, Genting gained 10 sen to RM8.80, advanced eight sen to RM24.40 and Hong Leong Financial Group ended 26 sen higher at RM18.26.

Top gainers on Bursa Malaysia included Panasonic Manufacuring rose 72 sen to RM39.98, Scientex gained 46 sen to RM8.65 and Vitrox went up 43 sen to RM7.23.

The decliners included United Plantations, Fraser & Neave and IHH Healthcare.

Meanwhile, the ringgit was unchanged 4.0745 against the . The ringgit weakens against the in the early trade Thursday but strengthened later in the morning.

Elsewhere in the region, Japan’s Nikkei edged lower on in choppy trade. The Nikkei share average dropped 0.2% to 22,598.39.

Hong Kong’s Hang Seng index was up 248.16 points or 0.88% at 28,607.30 points. ’s main Shanghai Composite index closed up 1.83% at 2,794.38 points while its blue-chip CSI300 index ended up 2.5% to 3,397.53.

Source: The Star

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