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Thursday, September 7, 2017

Market Daily Report: FBM KLCI up on BAT spike, Malaysia election cue





KUALA LUMPUR (Sept 7): The FBM KLCI jumped 10.5 points or 0.6% mainly on index-linked British American Tobacco (M) Bhd's (BAT) share price spike in the final trading minutes.

Analysts said the KLCI had also risen on Malaysia's 14th General Election's (14th GE) timing speculation. At 5pm, the KLCI closed at 1,782.98 points while Bursa Malaysia top gainer BAT added RM1.46 to RM44.60.

“It’s very much linked to the 14th GE. It was the case during the late 2012 and early 2013. It’s almost like a replay,” Inter-Pacific Securities Sdn Bhd  research head Pong Teng Siew told theedgemarkets.com.

Malaysia held its 13th GE on May 5, 2013.

Today, the KLCI also rose on KLCI- and Malaysian Government-linked Tenaga Nasional's share gains. Tenaga added 16 sen to close at RM14.56.

Across Bursa Malaysia, 2.63 billion shares worth RM2.41 billion were traded. Gainers outpaced decliners at 504 against 299 respectively.

The most-active stocks included Olympia Industries Bhd and Iris Corp Bhd.


Source: The Edge

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