FBM KLCI closes firmly above 1,560-level

KUALA LUMPUR: Late gains at banking stocks and select blue chips propped the FBM KLCI firmly above the 1,560-point level on Friday, June 17, while regional markets mostly stumbled on Greek woes.
At the regional markets, Hong Kong shares fell through two key chart support levels this week while Shanghai's key stock index slid to its lowest level in over eight months as growing bearishness on Chinese equities and Greece's worsening debt crisis drove investors out of riskier assets, according to Reuters.
The FBM KLCI rose 0.59% or 9.19 points to close at 1,563.43.
Gainers edged losers by 394 to 345, while 352 counters traded unchanged. Volume was 946.22 million valued at RM2.22 billion.
At the regional markets, Hong Kong’s Hang Seng fell 1.17% to 21,695.26, the Shanghai Composite Index lost 0.81% to 2,642.82, Japan’s Nikkei 225 was down 0.64% to 9,351.40, South Korea’s Kospi fell 0.72% to 2,031.93, Singapore’s Straits Times Index declined 0.49% to 3,005.28 and Taiwan’s Taiex shed 0.21% to 8,636.10.
On Bursa Malaysia, Petronas Gas jumped 64 sen to RM12.94 as investors viewed the stock had more upside following the Melaka regasification plant and Kimanis power plant.
Aeon rose 62 sen to RM7.82, KLK and Hong Leong Bank were up 36 sen each to RM22.38 and RM13.36. HLFG and Maybank were up 26 sen each to RM12.64 and RM9 , Panasonic 24 sen to RM24.30, Aeon Credit 21 sen to RM5.62, QSR and MMHE added 16 sen each to RM5.95 and RM8.66, Axiata 10 sen to RM5.05 and CIMB eight sen to RM8.55.
Among the decliners, PPB fell 66 sen to RM16.82, F&N lost 48 sen to RM19.22, Batu Kawan 26 sen to RM17.04, BAT 22 sen to RM45.68, Milux 17 sen to RM1.10, United PLANTATION []s, Lafarge Malayan Cement and Malayan Flour Mills down 16 sen to RM19.84, RM7.42 and RM7.04 respectively, while MAHB lost 13 sen to RM6.37.
The actives included Axiata, Muhibbah, Asia Media, DBE Gurney, Maybank, CIMB and Petronas Chemicals.

Written by Surin Murugiah of theedgemalaysia.com