KUALA LUMPUR: Telekom led blue chips higher at midday on Wednesday, while oil and gas (O&G) stocks continued to attract attention as crude oil prices continue to climb to record high to nearly US$120 (RM375) per barrel.
However, DiGi emerged as the top loser as some investors switched out of the counter to pick up Telekom shares. The reference price of Telekom shares was RM3.01 after the demerger exercise where it would focus on fixed line business.
At 12.30pm, the KLCI had risen 9.76 points to 1,289.06, the FBM Emas rose 71.18 points to 8,699.38 while the FBM Second Board added 26.77 points to 5,939.83.
Turnover was 432 million shares valued at RM618.81mil. There were 334 gainers, 213 losers while 236 counters were unchanged.
Major Asian markets were mostly higher, with Japan’s Nikkei 225 up 0.91% or 123.36 points to 13,671, Hong Kong’s Hang Seng Index added 0.87% to 25,156.29, Singapore’s Straits Times Index added 0.46%. Shanghai’s A Share Index jumped 3.08% or 101.8 points to 3,404.9.
Light crude oil was trading as US$118.19. Crude palm oil futures jumped RM103 to RM3,543 per tonne, boosted by the firm close of soyoil and also tracking the gains on US crude oil. The ringgit was quoted at RM3.131 to the US dollar.
At Bursa Malaysia, Telekom led the gainers’ list, up 51 sen to RM3.56 in very active trade, with 27 million shares done. Its reference price was RM3.05. However, DiGi fell 60 sen to RM24.
O&G related counters were also traded higher with Kencana added 12 sen to RM2.11, Shell and SAAG 10 sen higher to RM11.50 and RM4.58. Sapuracrest added five sen to RM1.67 while Scomi rose three sen to RM1.14. Pipe maker Wah Seong rose seven sen to RM2.45.
Plantations-based Batu Kawan added 30 sen to RM11.20, KL Kepomg 10 sen higher to RM16.90 while Sime Darby fell five sen to RM9.90.
Other gainers were PPB, up 30 sen to RM11 while LCL, UMW and Ta Ann added 20 sen each RM6.20, RM6.50 and RM7.35 respectively.
However, BAT fell 25 sen to RM43.25, Mieco 15 sen to 60 sen and Top Glove eight sen lower to RM4.78.
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