FBM KLCI ends higher; Toyo Ventures slides 23.19%

KUALA LUMPUR: The FBM KLCI finished higher for the second straight day on Thursday amid a mixed broader market as buying interest interspersed with profit-taking.

The 30-stock index advanced 1.43 points, or 0.09% to 1,616.75. It traded within a range of 5.04 points between an intra-day high of 1,619.75 and a low of 1,614.71.

In the broader market, gainers outnumbered losers 586 to 558, with 4.93 billion shares worth RM3.8bil changed hands.

Ocean Fresh, which debuted on the ACE Market today, closed 175%, or 49 sen higher at 77 sen with 135.08 million shares traded.

Westports gained 22 sen to RM4.46, United Plantations rose 16 sen to RM25, Greatech added 11 sen to RM5.51 and SKB Shutters climbed 10.5 sen to RM1.

Among the losers, Dutch Lady fell 40 sen to RM35.60, Heineken lost 32 sen to RM22.18, and Kuala Lumpur Kepong gave up 28 sen to RM20.28.

Toyo Ventures slid 32 sen, or 23.19% to RM1.06 on news of the termination of the Song Hau 2 thermal power plant project by the Vietnamese government.

According to data on Bursa Malaysia, foreign investors continued to buy into local stocks on Wednesday, acquiring RM259mil worth of equities.

Local institutions and retailers sold equities worth RM60mil and RM200mil respectively.

Meanwhile, Reuters reported that oil prices dropped as investors grew cautious due to weaker-than-expected U.S. employment and business data, suggesting a potential slowdown in the economy of the world’s largest oil consumer.

Brent crude futures were down 78 cents to US$86.56 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 82 cents to US$83.06.

Among the key regional markets:

Japan’s Nikkei 225 rose 0.82% to 40,913.65;

Hong Kong’s Hang Seng Index closed up0.31% to 18,033.48;

Shanghai Composite Index fell 0.83% to 2,957.57;

Taiwan’s Taiex advanced 1.51% to 23,522.53 and;

South Korea’s Kospi closed up 1.11% to 2,824.94 points.