KLCI boosted by Fed comments, IHH launches sale of Khazanah – Business News

KUALA LUMPUR: The US Federal Reserve's comments that the end of its tightening cycle was about to tighten helped strengthen the FBM KLCI index above the 1,700 mark.

At 12:30, the KLCI FBM scored 14.88 points at 1,701.43. There were 976.16 million shares worth RM 969.84 million. There were 348 counters against 391 declined and 319 counters unchanged.

IHH Healthcare has found a keen interest in purchasing after the announcement of Khazanah Nasional's sale of a 16% stake in the healthcare provider to Mitsui & Co.

The CIMB also increased from 12 sen to RM5.87, Axiata from 20 sen to 3.33 RM, IOI from 18 sen to 4.42 and PPB adding RM1.04 to RM18.04.

Genting's actions continued to weigh after the fallout from the cancellation of the Fox theme park. Genting Malaysia slid nine sen to RM2.91 and Genting fell 10 sen to RM6.47.

In the broader market, Heineken climbed from 50 Sen to 19.22 RM and Carlsberg gained 40 Sen at 19.40 RM while TIme dotCom rose from 32 Sen to 8.35 RM.

Dutch lady , meanwhile, weighed 20 sen at RM63.40 and Hengyuan fell 19 sen to RM4.73.

Prices for petroleum products rose ahead of the G20 summit meeting in the hope that trade negotiations would be decisive.

WTI crude gained 29 cents to 50.70 USD a barrel and Brent rose 38 cents to 59.14 USD per barrel.

In foreign currency, the ringgit rose 0.3% against the US dollar to 4.1890. It fell by 0.45% against the pound sterling at 5.3793 and by 0.35% against the Singapore dollar at 3.0570.