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KUALA LUMPUR: Public Bank and Tenaga Nasional backed Bursa Malaysia’s strong start to the week on Monday, following firmer key Asian markets as progress on the Covid-19 vaccine boosted confidence.
At 9.21am, the FBM KLCI was up 10.52 points or 0.62% at 1,695.10. The turnover was 1,380 million shares valued at RM801.60 thousand. There were 447 winners, 412 losers, and 378 unchanged counters.
On the external front, Reuters reported that stocks started a busy week with cautious gains as investors evaluated the possibility of additional fiscal and monetary stimulus from the United States.
Progress in coronavirus vaccines encouraged risk sentiment, with the first shipments accelerating in the United States as part of a historic mission to inoculate more than 100 million people by the end of March.
MSCI’s broader Asia-Pacific equity index outside of Japan rose 0.1%, after hitting a series of all-time highs last week.
Japan’s Nikkei added 0.4% as a survey showed that the mood among the worst-hit Japanese companies had improved in the December quarter.
In Bursa’s final week, local retail investors drove the market higher, fueled by Public Bank’s four-for-one bond issue.
Foreign funds were net sellers at RM574.5 thousand and local institutions at RM142.6 thousand but the sale was well absorbed by local retailers at RM717.1 thousand.
Last Friday, foreign funds were net sellers at RM45.5 thousand and local institutions at RM41.2 thousand, but again the sale was absorbed by local retail investors at RM86.7 thousand.
Public Bank rose RM1 to RM22.90 and saw 2.64 million shares realized, while LPI gained 24 sen at RM14.04.
Tenaga rose 26 sen to RM10.60 with 1.08 million shares traded.
Carlsberg added 84 sen to RM23.12 and Heineken 42 sen to RM22.70, while Ajinomoto added 38 sen to RM15.68.
Other winners were KPower, up 34 sen at RM5.87, Scientex 28 sen at RM1.72, and JayCorp 28 sen also at RM1.72.
Glove makers fell with Hartalega
It dropped 52 sen to RM13.20, Top Glove 31 sen to RM6.59, Kossan 30 sen to RM5.09 and Supermax 28 sen to RM7.28.
In technology-related stocks, UWC was down 26 sen to RM8.72 and Greatec 21 sen to RM8.31.
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