Last-minute buying drives FBM KLCI higher for third consecutive session

KUALA LUMPUR: Last-minute buying interest pushed the FBM KLCI sharply higher on Thursday, marking its third consecutive session of gains, in line with the positive performance of regional bourses.

At the close, the 30-stock index advanced by 10.66 points, or 0.44%, to 1,519.56, buoyed by gains in Maybank, PETRONAS Gas (PetGas), and CelcomDigi.

Stocks that rose outnumbered those that fell 489 to 388, with another 514 counters unchanged. A total of 2.93 billion shares changed hands, worth RM2.1bil.

Maybank rose by eight sen to RM10.42, contributing 1.3908 points to the index. PetGas jumped 44 sen to RM17.80, pushing the index higher by 1.2544, while CelcomDigi climbed six sen to RM3.82, nudging the index higher by 1.0141.

On the broader market, LPI Capital added 38 sen to RM13.74, Heineken rose 36 sen to RM24.40 and Can-One gained 15 sen to RM2.45.

ACE Market debutant, Northern Solar rose 25.4%, or 16 sen to 79 sen with 133.61 million shares traded.

Among the decliners on Bursa Malaysia, Negri Sembilan Oil Palms fell 13 sen to RM3.82, Allianz lost 12 sen to RM18.96, MBM Resources declined 12 sen to RM5.87 and KESM dipped 10 sen to RM3.60.

Meanwhile, stock market data showed that foreign investors and local retailers sold a net RM65mil and RM20mil, respectively, on Wednesday. Local institutions were net buyers, with RM85mil.

On the forex market, the ringgit was quoted at 4.4360, down 0.29% against the US dollar.

However, the local currency strengthened 0.04% against the euro, reaching 4.5996. It also rose 0.15% against the pound sterling to 5.5284 but fell 0.05% against the Singapore dollar, settling at 3.2780.

On the external front, Japan’s Nikkei 225 added 0.61% to close at 39,066.53 while South Korea’s Kospi closed up 1.1% at 2,536.75.

Hong Kong’s Hang Seng Index rose 1.43% to 20,891.62 and China’s CSI300 Index added 1.26% to 3,842.83.