The growing PPB group: KLCI strong growth – Business News

KUALA LUMPUR: Bursa Malaysia has walked the main Asian markets and Wall Street up Thursday, anticipating the expectations of the US Federal Reserve to limit its interest rate increases next year.

At 9:12, the KLCI index was up 11.03 points or 0.65% to 1,697.58. The turnover amounted to 153.44 million shares worth RM 108.37 million. There were 245 winners, 99 losers and 136 counters unchanged.

Asian stocks rose as a result of a rebound on Wall Street, while dovish comments by Federal Reserve Chairman Jerome Powell boosted investor sentiment towards riskier assets, Reuters reported.

The MSCI's broadest index of Asia Pacific shares out of Japan rose 0.6%. Australian equities rose 0.8% and Japan's Nikkei 0.9%.

However, while Wall Street supported Asian equities, gains in the region were nevertheless limited before the meeting between US President Donald Trump and his Chinese counterpart Xi Jinping expected to take place on the sidelines of the G20 summit, Reuters noted.

In Bursa Malaysia, the PPB group increased by 58 Sen. To reach 17.58 RM and KL Kepong added 22 of 24.66 to account for the rise in crude oil futures prices, anticipating the increased passage to biodiesel.

IHH Healthcare recorded a rise of 36 senates to reach RMI 5.61 after learning that Khazanah was selling his 16% stake in health care provider to Japanese Mitsui for 8.42 RMB or 1 RM6 per share.

Petronas Gas won 18 Sen at 19 RM, but Petronas Dagangan lost 10 Sen at 26.36 for the hope of higher dividends has dissipated.

Telecom operators also grew with Axiata up to 12 sen at RM3.75 and at Digi 11 sen at RM4.23.

Nestle added 20 sen to RM146.40 and F & N gained 16 sen to RM33.54.

Transocean jumped from 18.5 sen to 62 sen and Johore Tin 11 sen to RM1.02.

Hengyuan fell the most, down 32 sen to RM4.59, Allianz 20 sen to RM12.10, MSM 13 sen to RM2.72 and CSC Steel 10 sen to RM1.