FBM KLCI closed marginally higher

KUALA LUMPUR: The FBM KLCI closed 9.56 points or 0.59% higher at 1,618.01 points with Genting Bhd slumping 22.87% to RM1.45 while Genting Malaysia Bhd fell 17.45% to RM1.23.

Intraday short selling of Genting was suspended earlier today as investors reacted to an announcement by the company last week to raise RM1.25bil through a rights issue to repay RM800mil of its short-term borrowings, with the balance mainly used for working capital purposes.

At the market close, losers outpaced gainers 778 to 344 while 520 counters were traded unchanged on Bursa Malaysia. Turnover was 3.36 billion shares valued at RM2.91bil.

Among financial stocks, Malayan Banking Bhd gained 14 sen to RM9.95, Public Bank Bhd was up nine sen to RM4.66, Hong Leong Financial Group Bhd rose 16 sen to RM17.46 and Allianz Malaysia Bhd was down 10 sen to RM20.02.

Consumer stocks Nestle (M) Bhd closed 94 sen higher at RM91.10, PPB Group Bhd fell 11 sen to RM9.04 and 99 Speed Mart Retail Holdings Bhd was nine sen lower at RM3.14.

Among energy-related stocks, Petronas Dagangan Bhd gained 14 sen to RM19.38 and Petronas Gas Bhd was up 10 sen to RM17.22. Among utility stocks, Tenaga Nasional Bhd gained 16 sen to RM13.04 and YTL Power International Bhd dropped 20 sen to RM5.50.

Among plantation stocks, United Plantations Bhd lost 48 sen to RM30.22, Genting Plantations Bhd was down 17 sen to RM5.42, SD Guthrie Bhd was down nine sen to RM5.94 and Sarawak Plantation Bhd fell nine sen to RM4.48.