KUALA LUMPUR: AirAsia's share price climbed to its highest since March 12 on Thursday, enabling the FBM KLCI to close marginally higher amid a cautious market.
At 5pm, the KLCI was up just 0.78 of a point or 0.05% to 1,583.17. Turnover was 1.29 billion shares valued at RM1.21bil. There were 344 gainers, 390 losers and 325 stocks unchanged.
The key regional markets were mostly lower, with Shanghai's Composite Index up 0.07% to 2,440.08, but Hong Kong's Hang Seng Index fell 0.28% to 21,249.53, Taiwan's Taiex 0.23% lower to 7,659.53, South Korea's Kospi 0.2% to 1,995.11 and Singapore's Straits Times Index 0.06% to 3,004.42.
Light crude oil fell 28 cents to US$104.94 and Brent 37 cents to US$117.83 while gold spot lost US$9.64 to US$1,643.81. The ringgit weakened against the US dollar to 3.0325 from 3.0280 overnight.
At Bursa Malaysia, low-cost carrier AirAsia jumped 27 sen to RM3.60 with 13.75 million shares done. Its gains nudged the KLCI up 1.76 points. MAS added two sen to RM1.24.
On Wednesday, MAS and AirAsia officially announced the reversal of the proposed share swap. Instead, both airlines inked a supplemental agreement to vary the terms and scope of the original alliance.
MAS, AirAsia and AirAsia X (AAX) would also cease the separation of their respective focus areas.
Dealers said apart from the news from AirAsia and MAS, there was not much fresh news to attract buying interest. They said most retail investors were staying on the sidelines which most of the trading action was from local institutions.
Among the index-linked stocks, RHB Cap rose 10 sen to RM7.51, Tenaga seven sen to RM5.48 while Bumi Armada five sen to RM4.06 and AMMB three sen to RM6.33.
Knusford was the top gainer, up 34 sen to RM2.28 with 50,200 shares done. BAT was 20 sen higher at RM55.24 and MPHB 14 sen to RM2.86.
Atlan rose 12 sen to RM4.40, the highest the highest since May 2000.
Utopia was the most active with 84.10 million shares done, ending the day unchanged at eight sen.
Genting fell 16 sen to RM10.50 with 3.57 million shares done, MAHB nine sen to RM5.70 and Public Bank eight sen to RM13.72. Pasdec, which faces delisting, lost seven sen to 30 sen.
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