FBM KLCI extends gain to fresh 26-month high

KUALA LUMPUR: The FBM KLCI rose for the second day, putting on 0.34% to its highest in over two years.

At 5 pm, the 30-stocks index closed up 5.51 points, or 0.34% to 1,616.62, its highest since March 2022. The index rose almost 1% this week.

Gainers outpaced losers 846 to 374, while 497 counters were unchanged. Traded volume surged to 7.23 billion shares, valued at RM4.54bil, changed hands.

Stock market data showed foreign funds were net sellers at RM147 mil but local institutions were net buyers at RM132mil and retail investors at RM15mil on Wednesday.

In today’s session, 17 of the KLCI-component stocks closed higher while seven counters finished lower.

YTL Corp contributed the most to the index gain and had the largest move, increasing 4.66%, or 17 sen to RM3.82. The counter contributed 2.7025 points to the index.

On the other hand, Press Metal Aluminium was the biggest drag on the index and had the biggest drop, declining 2.99%, or 16 sen to RM5.20. It single-handedly took 1.8975 points off the FBM KLCI.

On the broader market, Malaysian Pacific Industries surged RM3.10 to RM36.60, Allianz rose RM1.30 to RM23.38 and Heineken added 84 sen to RM25.60.

United Plantations slid 36 sen to RM25.84, Panasonic Manufacturing fell 22 sen to RM19.48 and Ajinomoto declined 18 sen to RM15.94.

Meanwhile, the ringgit was quoted at 4.6877 against the greenback, down 0.1%.

The local currency was up 0.16% against the euro at 5.0824. It rose 0.05% against the pound sterling at 5.9296 and 0.1% against the Singapore dollar at 3.4795.

Among the key regional markets:

Japan’s Nikkei 225 fell 0.34% to 38,787.38;

Hong Kong’s Hang Seng Index closed up 0.91% to 19,553.61;

Shanghai Composite Index added 1.01% to 3,154.03;

Taiwan’s Taiex fell 0.21% to 21,258.47;

South Korea’s Kospi closed down 1.03% to 2,724.62 and;

Singapore’s Straits Times Index rose 0.12% to 3,309.06 points.