KUALA LUMPUR: The FBM KLCI closed at a six-week high on Friday, May 27, with Tenaga Nasional as the main factor as investors expected positive news for the power giant in getting a tariff increase.
Prime Minister Datuk Seri Mohd Najib Tun Razak said the government will study first the report submitted by the National Economic Council (NEC) on the electricity tariff.
"Whatever it is, we will see first. We cannot say anything. That is their report," he told a press conference after chairing the Umno Supreme Council meeting.
At 5pm, the FBM KLCI was up 7.75 points or 0.5% to 1,548.69, the highest since April 11. Turnover was 947.81 million shares valued at RM1.69 billion. The broader market was cautious with declining stocks beating advancers 464 to 314 while 300 stocks were unchanged.
The KLCI's historic closing was 1,574.49 on Jan 17.
Crude palm oil futures rose RM22 to RM3,438, making it the third weekly gains as buyers in Europe increased their imports to replenish their stockpiles.
Light crude oil added 34 cents to US$100.57. The ringgit was at 3.0315 to the US dollar, compared with the previous close of 3.0457.
Among the regional markets, Japan's Nikkei 225 fell 0.42% to 9,521.94, Shanghai's Composite Index lost 0.97% to 2,709.95. Hong Kong's Hang Seng Index added 0.95% to 23,118.07 and Taiwan's Taiex 0.25% higher to 8,810 and Singapore's Straits Times Index added 0.38% to 3,135.52.
At Bursa Malaysia, Tenaga rose 28 sen to RM6.58, pushing up the 30-stock KLCI up by 3.57 points while genting added 12 sen, nudging the index by another 1.05 points. Genting Malaysia's 10 sen gain to RM3.62 gave the index another 0.92 point push.
PLANTATION []s were also among the gainers on the bullish outlook for CPO, with KLK rosomg 22 sen to RM22.10 and Batu Kawan 12 sen. Sime Darby added two sen to RM9.13 and IOI Corp four sen to RM5.34.
Hong Leong Bank rose 30 sen to RM12.20, Nestle 28 sen to RM47.98 while Yinson climbed 13 sen to RM1.44.
KNM was the most active with 103.44 million shares done, falling 38 sen to close at RM2.15 on the weaker first quarter earnings.
Perstima fell 57 sen to RM4.60 and it was the top loser of the day. Profit taking saw F&N giving up 30 sen to RM19.20. Other decliners were MSC, Sindora, Ta Ann, Parkson and Tradewinds.
Prime Minister Datuk Seri Mohd Najib Tun Razak said the government will study first the report submitted by the National Economic Council (NEC) on the electricity tariff.
"Whatever it is, we will see first. We cannot say anything. That is their report," he told a press conference after chairing the Umno Supreme Council meeting.
At 5pm, the FBM KLCI was up 7.75 points or 0.5% to 1,548.69, the highest since April 11. Turnover was 947.81 million shares valued at RM1.69 billion. The broader market was cautious with declining stocks beating advancers 464 to 314 while 300 stocks were unchanged.
The KLCI's historic closing was 1,574.49 on Jan 17.
Crude palm oil futures rose RM22 to RM3,438, making it the third weekly gains as buyers in Europe increased their imports to replenish their stockpiles.
Light crude oil added 34 cents to US$100.57. The ringgit was at 3.0315 to the US dollar, compared with the previous close of 3.0457.
Among the regional markets, Japan's Nikkei 225 fell 0.42% to 9,521.94, Shanghai's Composite Index lost 0.97% to 2,709.95. Hong Kong's Hang Seng Index added 0.95% to 23,118.07 and Taiwan's Taiex 0.25% higher to 8,810 and Singapore's Straits Times Index added 0.38% to 3,135.52.
At Bursa Malaysia, Tenaga rose 28 sen to RM6.58, pushing up the 30-stock KLCI up by 3.57 points while genting added 12 sen, nudging the index by another 1.05 points. Genting Malaysia's 10 sen gain to RM3.62 gave the index another 0.92 point push.
PLANTATION []s were also among the gainers on the bullish outlook for CPO, with KLK rosomg 22 sen to RM22.10 and Batu Kawan 12 sen. Sime Darby added two sen to RM9.13 and IOI Corp four sen to RM5.34.
Hong Leong Bank rose 30 sen to RM12.20, Nestle 28 sen to RM47.98 while Yinson climbed 13 sen to RM1.44.
KNM was the most active with 103.44 million shares done, falling 38 sen to close at RM2.15 on the weaker first quarter earnings.
Perstima fell 57 sen to RM4.60 and it was the top loser of the day. Profit taking saw F&N giving up 30 sen to RM19.20. Other decliners were MSC, Sindora, Ta Ann, Parkson and Tradewinds.
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