KUALA LUMPUR: Blue chips closed off their day’s best on Friday as investors took profit despite the firmer Q1 economic data, gains in crude oil prices and firmer ringgit, with the FBM KLCI seen supported by Genting Bhd, Petronas stocks and Maybank.

At 5pm, the KLCI was up 1.11 points or 0.06% to 1,768.28. Turnover was 3.27 billion shares valued at RM3.24bil. There were 623 gainers, 302 losers and 364 counters unchanged.

The ringgit climbed against most key currencies after the release of the stronger-than-expected Q1 GDP data where the economy grew 5.6%, exceeding the consensus of a 4.8% growth, powered by the manufacturing and services sectors.

The ringgit rose 0.17% against the US dollar to 4.3205 from 4.3280 and gained 0.3% versus the pound sterling to 5.6186 from 5.6355. It advanced against the Singapore dollar by 0.08% to 3.1079 from 3.1104. However, it slipped 0.03% to the euro to 4.8178 from 4.8166.

Hong Kong stocks edged up on Friday, ending the week roughly flat, as Chinese money continued to flow into the city’s share market, while index heavyweight Tencent closed at an all-time high, Reuters reported.

The Jakarta Composite Index surged 2.59% after rating agency Standard & Poor’s (S&P) upgraded Indonesia’s sovereign bond ratings to investment grade on Friday, saying the move reflected its assessment of reduced risks to the country’s fiscal position.

At Bursa Malaysia, Genting Bhd rose 21 sen to RM9.95 and pushed the KLCI up 1.34 points. Tenaga lost two sen to RM13.78.

An Opec panel reviewing scenarios for next week’s policy-setting meeting is looking at the option of deepening and extending an Opec-led deal to reduce oil output, OPEC sources said on Friday. 

US light crude oil rose 65 cents to US$50 and Brent jumped 71 cents to US$53.22.

 Petronas Dagangan gained 68 sen to RM24.76 and nudged the index up 1.14 points while Petronas Chemicals added five sen to RM7.33 while Petronas Gas was flat at RM19. 

Refiner Hengyuan rose 26 sen to RM5.09 while Enra added 24 sen to RM3.

Maybank rose three sen to RM9.35, CIMB two sen to RM5.96, Hong Leong Bank and HLFG lost eight sen each to RM13.98 and RM16.98, AmBank four sen lower at RM5.41 and Public Bank and RHB Bank shed two sen each to RM20 and RM5.40.

As for telcos, Digi and Maxis gained two sen each to RM5.01 and RM6.51 while Axiata edged up one sen to RM5.24 and Telekom was flat at RM6.45. Time dotCom regained its traction, up 23 sen to RM9.16.

Crude palm oil for third-month delivery rose RM15 to RM2,641 per tonne. However, PPB Group fell eight sen to RM16.98, KL Kepong lost four sen to RM24.86, IOI Corp two sen lower at RM4.53 and Sime Darby eased one sen to RM9.31.

As for chip maker MPI, it jumped 48 sen to RM13.40 while SAM Engineering gained 27 sen to RM7.17. Vitrox rose 24 sen to RM6.26 after a strong set of results.

Pos Malaysia fell 20 sen to RM5.55 and it was the top loser as investors locked in gains.

Among the key regional markets,

Japan’s Nikkei 225 rose 0.19% to 19,590.76;

Hong Kong’s Hang Seng Index added 0.15% to 25,174.87;

CSI 300 edged up 0.17% to 3,403.85;

Shanghai’s Composite Index inched up 0.02% to 3,090.63;

Hang Seng China Enterprise shed 0.04% to 10,267.39;

Taiwan’s Taiex slipped 0.22% to 9,947.62;

South Korea’s Kospi eked out a gain of 0.07% to 2,288.48 and

Singapore’s Straits Times Index fell 0.15% to 3,216.92.

Spot gold jumped US$5.11 to US$1,252.18.


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