KLCI ekes out slight gains, CMSB in focus

KUALA LUMPUR: Blue chips eked out slim gains early Thursday, underpinned by KL Kepong and MISC, amid a firmer broader market while cement maker CMSB jumped in an active trade.

At 9.23am, the KLCI was up just 0.15 of a point or a mere 0.01% to 1,568.94. Turnover was 335.20 million shares valued at RM178.60mil. There were 207 gainers, 128 losers and 237 counters unchanged.

Asian shares pulled ahead with corporate earnings buffeting trading as investors remained anxious about the business impact of the US-China trade war while Brexit uncertainties kept overall sentiment in check, Reuters reported.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2% with Japan’s Nikkei up 0.5% at a one-year high. Australian shares climbed 0.5% while South Korea’s KOSPI inched 0.4% higher.

At Bursa on Wednesday, local retail investors were net buyers at RM8.9mil while foreign funds joined in to be net buyers at RM1.7mil. Local institutions were net sellers at RM10.6mil.

Among the KLCI stocks which chalked up gains on Thursday were KL Kepong, up 24 sen to RM21.94 while MISC added 10 sen to RM8.40.

CMSB climbed 15 sen to RM2.51 with 24.4 million shares following more news about the infrastructure and road building projects in Sarawak and Sabah.

Semicon stocks were among the top gainers with MPI up 14 sen to RM11.54 and KESM 10 sen to RM8.25.

Petronas Dagangan fell 32 sen to RM23.16 with 100 shares done.

Source: https://www.thestar.com.my/business/business-news/2019/10/24/klci-ekes-out-slight-gains-cmsb-in-focus