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KUALA LUMPUR: Key Asian markets started Monday on an optimistic note as investors cheered Joe Biden as US president-elect, while in Bursa, leading companies also rose in positive response to Budget 2021 proposals.
At 9.08am, the FBM KLCI accounted for 7.23 points or 0.48% at 1,526.87. The turnover was 827.39 million shares valued at RM338.18 thousand. There were 431 winners, 149 losers, and 304 unchanged counters.
Among key Asian markets, the Nikkei 225 was up 1.57%. South Korea’s Kospi recovered 1.58% and Taiwan’s Taiex 0.42% more.
Reuters reported that US stock index futures rose on Sunday after Biden was declared the winner in a highly controversial election.
S&P 500 e-mini futures were up 34.5 points, or 0.99%, Dow e-minis were up 277 points, or 0.98%, and Nasdaq 100 e-minis were up 147.25 points. or 1.22%.
Last week, foreign funds became net buyers at RM115.2 thousand and local retail investors were also net buyers at RM26.7 thousand, but local institutions made a profit and were net sellers at RM141.8 thousand.
On Friday, foreign funds were net buyers at RM240.4k, offsetting net sales from local institutions at RM128.7k and local retail investors at RM111.8k.
Axiata rose seven sen to RM3.27, Digi five sen to RM4.05, Maxis one sen to RM5.16 and Telekom two sen to RM4.22.
Hartalega
It rose 42 sen to RM18.62 and Top Glove rose seven sen to RM8.57 while Supermax rose 17 sen to RM9.95.
Consumer stocks also rose with Dutch Lady up to 50 sen at RM35, F&N 50 sen at RM32.50 and BAT 48 sen at RM10.70.
On the semiconductor and technology stocks, MPI advanced 72 sen to RM24.50 and Greatec 16 sen to RM8.61.
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