KUALA LUMPUR: Bursa Malaysia advanced early Monday, with the FBM KLCI up nearly 10 points led by Nestle and Hong Leong Bank amid a firmer broader market as sentiment was given a boost by key Asian bourses.
At 9.11am, the KLCI was up 9.68 points or 0.52% to 1,853.60. Turnover was 241.76 million shares valued at RM90.44mil. There were 319 gainers, 82 losers and 189 counters unchanged.
MSCI’s broadest index of Asia-Pacific shares outside Japan firmed 0.4%. Japan’s Nikkei jumped 2%, while South Korea rose 0.8%, Reuters reported.
Brent crude futures rose 16 cents to US$65.65 a barrel while US crude futures rose 11 cents to US$62.15 a barrel.
Nestle climbed to fresh records, up RM2.50 to RM147.50 while F&N added 48 sen to RM31.46 and BAT 26 sen higher at RM26.96.
Petron gained 54 sen to RM10.94, Petronas Gas 38 sen to RM17.58 and Hengyuan 28 sen to RM9.85.
HLFG climbed 38 sen to RM18.96 with 100 shares done and Hong Leong Bank added 24 sen to RM18.58.
MBM Resources jumped 29 sen to RM2.47 on news about the proposed takeover by UMW. UMW added 26 sen to RM6.21.
However, Dialog fell four sen to RM2.59 with 34,000 shares done. Maybank Research is positive on Dialog with a target price of RM3.
It said Petronas’ planned upgrade of its Kerteh refinery is a positive for Dialog, for it ensures the extension of Dialog’s 30%-owned KCTF concession beyond 2020, a concern/ risk in the past. – thestaronline