KLCI bounces on Wall Street uptick


THE benchmark Bursa Malaysia Kuala Lumpur Composite Index (KLCI) rebounded to end the morning session higher, tracking the better overnight performance on Wall Street.

The Dow Jones Industrial Average ended its five-day losing streak to end 0.25% or 59.7 points higher at 24,083.83 after a late round of buying pared early losses made in the US stock market.

The S&P 500 also edged higher by 0.18% or 4.84 points to close at 2,639.40, while Nasdaq continued to decline, albeit marginally, to 7,003.74.

At noon, the local index rose by 0.32% or six points to 1,857.94 against yesterday’s close of 1,851.93. The KLCI moved between 1,855.11 and 1,863.57 throughout the morning trade, after it opened 4.26 points higher at 1,856.19.

Market breadth was positive as gainers led losers 427 to 248, while 309 counters were unchanged and 930 were untraded.

Among the top gainers were Fraser & Neave Holdings Bhd, United Plantations Bhd, Top Glove Corporation Bhd, Hengyuan Refining Company Bhd and KLCC Property Holdings Bhd.

Top decliners included Nestle (Malaysia) Bhd, British American Tobacco (Malaysia) Bhd, Allianz Malaysia Bhd, Heineken Malaysia Bhd and Axiata Group Bhd.