Published: Friday June 22, 2012 MYT 5:52:00 PM
KLCI closes off day's high of 1,608
By Joseph Chin
KUALA LUMPUR: The FBM KLCI closed off the day's high of 1,608.65 on Friday but it still managed to buck the key regional markets on fund buying of heavyweights Tenaga, Telekom and Axiata which could be a prelude to a window dressing for the first half.
The KLCI ended the day just up 1.64 points or 0.1% to 1,603.07, still about three points away from its all-time closing high of 1,606 recorded on April 3.
Turnover was 1.48 billion shares valued at RM1.70bil. There were 321 gainers, 410 losers and 331 stocks unchanged.
Among the key regional markets, South Korea's Kospi fell the most, sliding 2.21% to 1,847.39.
Japan's Nikkei 225 lost 0.29% to 8,798.35; Hong Kong's Hang Seng Index 1.4% to 18,995.13; Shanghai's Composite Index 1.4% to 2,260.88; Taiwan's Taiex 0.78% to 7,222.05 and Singapore's Straits Times Index 0.14% to 2,826.12.
US light crude oil rose 31 cents to US$78.51 and Brent 56 cents higher to US$89.79 and spot gold added US$4.38 to US$1,570.75. The ringgit weakened against the US dollar to 3.1910 from 3.1780 on Thursday.
Crude palm oil third-month futures fell RM50 to RM2.950.
Bloomberg reported European stocks fell for a second day as German business confidence declined to its lowest level in more than two years. U.S. index futures advanced.
The Stoxx Europe 600 Index has declined 9.5% from its high on March 16 on concern that Greece will have to leave the euro currency union. The gauge fell 0.5% yesterday as the Federal Reserve cut its growth forecast for the US economy and a survey indicated China's manufacturing industry may shrink for an eighth month.
At Bursa, Tenaga rose 13 sen to RM6.70, pushing the KLCI up 1.67 points as the power giant would benefit from low coal prices.
Among the telcos, Telekom rose 16 sen to RM5.69, adding 1.34 points to the 30-stock index. Axiata added five sen to RM5.47, pushing up the index by nearly one point. Maxis was two sen higher at RM6.39 and DiGi one sen to RM4.19.
Among plantations, BLD Plantations advanced 32 sen to RM8.46, KLK added four sen to RM23.06 and IOI three sen to RM5.28. Far East added 25 sen to RM7.80.
Luster was the most active with 234.11 million shares done, up 4.5 sen to 18.5 sen despite the unusual market activity query by Bursa Malaysia Securities. The warrants added two sen to 12.5 sen.
Genting and Genting Malaysia saw profit taking in the late afternoon. Genting fell six sen to RM9.62 and Genting Malaysia five sen to RM3.55.