Home / Others / KLCI closes the best day, volume shrinks for a long weekend – Business News

KLCI closes the best day, volume shrinks for a long weekend – Business News

KUALA LUMPUR: Blue chips ended the best of their day on Friday, while the trading volume for the long weekend shrank while the volatile trade conflict between the US and China continued to depress investor sentiment.

At 5 pm the FBM-KLCI increased by 6.17 points or 0.39% to 1,605.36. The intra-day high was 1607. Turnover and value fell below the two billion mark, the volume of shares traded amounted to 1.91 billion units and the value fell to just RM1.46 billion.

The market is closed on Monday for Wesak Day celebrations and resumes trading on Tuesday.

On the external front, the Chinese stock market closed lower, clocking the fourth consecutive weekly loss, largely as a result of re-escalating trade tensions when Washington Blacktech blacklisted Chinese technology company Huawei, Reuters reported.

The Shanghai Composite index fell by 2.5% and lost 1.9% for the week. The blue-chip CSI300 index also lost 2.5% and brought weekly losses to 2.2%.

The achievements of the KLCI were supported by Public Bank, Maybank, telco & # 39; s and Dialog, while Petronas Chemical and Tenaga collapse.

Public Bank rose 16 sen to RM22.42 and pushed the KLCI with 1.08 points, Maybank added four sen to RM9, AmBank and HL Bank two sen each to RM4.35 and RM5.74 while RHB Bank closed one sen higher to RM5.74.

Maxis took six sen to RM5.36 and Axiata four sen to RM4.44 while Digi was flat at RM4.65.

Oil rose faster to US $ 73 per barrel, supported by real and endangered supply disruptions in the Middle East and headed for a weekly profit, Reuters reported.

Dialog finished eight sen higher at RM3.30, Petronas Dagangan remained unchanged at RM24.52, Petronas Gas two sen lower at RM16.62 while Petronas Chemical lost four sen from RM8.80.

Of the consumer shares, BAT increased by 92 sen to RM34.10, Carlsberg 62 sen to RM24.86, F&N 30 sen to RM33.50 and Nestle 20 sen to RM145.50. Ajinomoto, however, lost 12 sen to RM17.40.

Other indexed stocks including MAHB climbed 14 sen to RM7.23, Press Metal five sen to RM4.30, Genting five sen to RM6.50 and GentingM two sen to RM3.14. Tenaga fell back six RM11.58 and abolished 0.6 from a point.

Among the poultry funds, Teo Seng fell nine sen to RM1.17 while Leong Hup closed below its bid price of RM1.10, three sen fell to RM1.07.

Crude palm oil remained unchanged at RM2.096 per tonne. Sime Plantation managed to recoup a small part of the recent losses, a rise of four sen to RM4.68, while KL Kepong also saw a four sen rise to RM24.16, IOI Corp one sen to RM4.21 while PPB Group flatten was on RM18. 56.

The ringgit weakened against the US dollar, but strengthened against the other major currencies. It fell 0.31% to the greenback to 4.1775. It rose 0.12% to the pound sterling at 5,391; added 0.11% to the euro to 4.66663 and gained 0.23% to the Singapore dollar to 3.0364.

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