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KUALA LUMPUR: Bursa Malaysia closed higher on Thursday, supported by gains in Petronas-linked stocks and banks, allowing FBM KLCI to be the best performer among key Asian markets after being the worst the day before.
At 5 p.m., the KLCI had bounced 29.87 points or 2.01% to close at 1,519.43. The turnover was 6.28 billion shares valued at RM3.23bil. The market as a whole was slightly cautious with the stock falling topping the gains 503 to 469, while 443 counters were unchanged.
The firmer nightly shutdown on Wall Street and expectations that Joe Biden could win the US presidential election and, in turn, boost Asian markets helped boost investors’ appetite for risk.
Among key Asian markets, Japan’s Nikkei 225 closed 0.96% higher, South Korea’s Kospi gained 0.21% and Singapore’s STI 0.21%. However, the Shanghai Composite Index fell 0.2% and the Hong Kong Hang Seng Index also fell 0.2%.
Light US crude rose 56 cents to $ 40.51 and Brent an additional 65 cents to $ 42.64.
Petronas Gas rallied 84 sen to RM16.94, Petronas Dagangan added 56 sen to RM16 and Petronas Chemicals 30 sen to RM6.
Petronas Chemicals earnings pushed the index up 3.78 points and Petronas Gas 1.1 points.
Public Bank recovered 42 sen to RM16, Hong Leong Bank 32 sen to RM15.20 and Maybank 20 sen to RM7.30 while CIMB rose eight sen to RM3.11. Maybank gave KLCI a boost of 3.54 points and Public Bank 2.57 points.
Regarding plantations, Sime Plantation rallied 16 sen to RM5.05, IOI Corp 16 sen also to RM3.11, KL Kepong 24 sen to RM22.70 and PPB Group 38 sen to RM18.88.
Among consumer stocks, Nestlé rose RM3.30 to RM141.80 and F&N RM1.34 to RM33.34.
Hap Seng finished the day 29 sen higher at RM7.29, IHH Healthcare 11 sen at RM5 and MISC three sen at RM6.93. GentingM gained five sen at RM2.10 and Genting eight sen at RM3.23.
As for telecom companies, Digi advanced 13 sen to RM4.13, Axita two sen to RM2.90, Telekom 10 sen to RM4.13 and Maxis six sen to RM5.09.
IHH Healthcare 11 sen at RM5 and MISC three sen at RM6.93. GentingM finished five sen higher at RM2.10 and Genting eight sen higher at RM3.23.
Regarding plantations, Sime Plantation bounced 16 sen to RM5.05, IOI Corp 16 sen also to RM3.11, KL Kepong 24 sen to RM22.70, PPB Group 38 sen to RM18.88.
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