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KUALA LUMPUR: Overseas sales hit the local stock market on Monday, but FBM KLCI managed to recoup half of the losses in early-morning trading Tuesday as investors looked for hit blue chips.
At 9:09 a.m. M., The KLCI was up 24.43 points or 1.56% at 1,587.14. The turnover was 752.75 million shares valued at RM361.95 thousand. There were 364 winners, 190 losers, and 361 unchanged counters.
Overnight on Wall Street, concerns about the increase in Covid-19 cases and the impact on the economic recovery caused the Dow Jones Industrial Average to drop 271.73 points, or 0.91%, to 29,638 64, the S&P 500 lost 16.72 points, or 0.46%, to 3,621.63 and the Nasdaq Composite fell 7.11 points, or 0.06%, to 12,198.74.
In Bursa on Monday, foreign sales hit the local stock market and caused the KLCI to drop 44 points. They were net sellers at RM541mil.
However, local institutions were net buyers at RM357.9 thousand and local retail investors at RM183.1 thousand.
In Tuesday morning trading, Hong Leong Bank rose 70 sen to RM17.88 and Public Bank 48 sen to RM17.88 while Maybank rose 21 sen to RM8.11. Aeon Credit
won 42 sen at RM10.88. AmBank dumped seven sen at RM3.25.
Nestlé won the most, rising RM1.70 to RM135.70 and Carlsberg 42 sen to RM19.66.
MPI rose 44 sen to RM25.50, Tenaga 42 sen to RM10.50 and Press Metal 22 sen to RM7.22.
Petronas Gas fell 76 sen to RM17.40, PPB Group 30 sen to RM18.30 and YSP Southeast Asia 13 sen to RM2.29 while Pentamaster lost 10 sen to RM4.85.
GETS Global lost six sen to RM2.67.
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