KUALA LUMPUR: Bursa Malaysia bucked the major Asian markets in the morning session on Friday on some mild buying on plantation stocks and mid-sized capitalised stocks with strong earnings but the mood was lacklustre as reflected in the thin volume.
At 12.30pm, the KL Composite Index had risen 2.92 points or 0.23% to 1,283.27, the FBM Emas rose 16.54 points to 8,632.31 while the FBM Second Board fell 25.20 points to 5,842.45.
Turnover was 266.48 million shares valued at RM435.6mil. There were 226 gainers, 289 losers while 264 counters were unchanged.
Asian markets were lower at midday, with Shanghai’s A Share Index down nearly 75 points or 1.93% to 3,762.86, Hong Kong’s Hang Seng Index fell 1.62% to 25,308.06, Singapore’s Straits Times Index 0.31% lower at 3,161,93 and Japan’s Nikkei 225 lost 1.51% to 13,733.09.
The record high price of light crude oil continued to be a dampener on investors’ sentiment, staying at US$124.36. Crude palm oil rose just RM1 to RM3,458 per tonne.
The ringgit continued to weaken against the US dollar and it was at RM3.2050 to the US$1.
Nestle was the top gainer, up 50 sen to RM31.50 while Public Bank foreign gained 20 sen to RM11.80. Bintulu Port and Shell added 20 sen each to RM6.75 and RM11.50. MBM Resources rose 16 sen to RM2.87 while a more positive outlook for the US semiconductor industry saw MPI rising 15 sen to RM8.80 but in very thin trade.
Golden Plus, which is involved in a legal tussle over control of the comany, attracted speculative interest, gaining 22 sen to RM1.95 with 6.39 million shares done.
Plantations lifted the blue chips, with Asiatic and Far East adding 15 sen each to RM8.45 and RM6.17 while Sime Darby and KL Kepong rose 10 sen each to RM9.55 and RM17.
BAT was the top loser, down 25 sen to RM42.75 while Genting fell 20 sen to RM6.30, Ta Ann and LCL gave up 15 sen each to RM7.65 and RM6.25 respectively.
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