KUALA LUMPUR: Fund buying of Telekom and Sime Darby pushed the KLCI higher in early trade on Thursday and closer to the psychological important 1,300 level.
Dayang Enterprise, which made its debut on the Main Board, rose 17 sen to RM1.62. It was the most active counter with 23.54 million shares done. It opened at RM1.68, up 23 sen.
At 10am, the KLCI was up 8.70 points to 1,296.86. Turnover was 224 million shares valued at RM253. There were 253 gainers, 137 losers and 186 counters unchanged.
In New York, US stocks rose on Wednesday after technology companies’s earnings showed the sector was still resilient despite an economic slowdown.
Apple’s net profit for its fiscal second quarter ended in March rose to US$1.05 billion, or US$1.16 per share, from US$770 million, or 87 US cents per share, a year ago. Revenue rose 43% to US$7.51 billion.
The Dow Jones industrial average rose 42.99 points, or 0.34%, to end at 12,763.22. The Standard & Poor's 500 Index gained 3.99 points, or 0.29%, to 1,379.93. The Nasdaq Composite Index climbed 28.27 points, or 1.19%, to close at 2,405.21.
Major Asian indices were higher. Hong Kong’s Hang Seng Index opened 1.93% higher at 25,776.29, while Shanghai’s A Share Index surged 8.48% to 3,731.52, Singapore’s Straits Times Index 1.12% higher to 3,229.68 and Japan’s Nikkei 225 added 0.38% to 13,630.87.
The ringgit was quoted at RM3.1355. Light crude oil was trading at US$118.05 per barrel.
At Bursa Malaysia, Sime Darby added 15 sen to RM10 while Telekom gained 10 sen to RM3.64.
Nestle surged RM1 to RM31 after reporting a strong set of earnings while BAT gained 50 sen to RM43. MISC-foreign and Parkson added 30 sen each to RM9.30 and RM6.80 while KL Kepong was 20 sen higher at RM17.20.
Among the losers were Utusan, down 16 sen to RM1.04 while Naim and Dutch Lady lost 10 sen each to RM4 and RM12.70.
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