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KUALA LUMPUR: Glove makers were among the top winners early Friday in the absence of a vaccine so far for the Covid-19 pandemic, while LNG carrier MISC advanced.
At 9.27 in the morning, the KLCI FBM rose 4.54 points or 0.32% to 1,401.79. The turnover was 1.45 billion shares valued at RM495.99 thousand. The overtakers defeated declines 424 to 128 while 270 counters did not change.
Global deaths related to the new coronavirus passed 300,000 on Thursday, while reported cases of the virus are approaching 4.5 million, according to a Reuters count. About half of the deaths have been reported by the United States, the United Kingdom, and Italy.
Rakuten Trade Research expects some consolidation for the KLCI after strong performance in recent days with 1,400 as immediate resistance.
“For today we can see the trend of the benchmark index between a narrow range of 1,390-1,400,” he said.
In Bursa on Thursday, foreign funds were net sellers at RM334.6mil, while local institutions were net buyers at RM275.1mil and local retail investors at RM59.6mil.
SAM Engineering was the main winner, up to 32 sen at RM5.60 while MISC added 19 sen to RM7.99, CAN-ONE
and Pentamaster 14 sen higher at RM2.99 and RM4.47 and Petron 13 sen at RM4.65.
Velesto was the most active, rising 0.5 sen to 14 sen with 99.96 million actions taken. XOX, DGB, JAG and Borneo oil They were also actively negotiated.
Decliners included Scientex, 10 sin less at RM8.31 and Sime Plantation eight sen less at RM4.67.
Reuters reported that oil prices were mixed on Friday after big gains a day earlier, when the International Energy Agency (IEA) predicted that crude reserves would start to shrink in the second half of 2020 after a surge, while that the coronavirus pandemic reduced fuel demand.
Brent crude rose 1 cent to $ 31.13 a barrel at 0115 GMT, after rising nearly 7% on Thursday.
West Texas Intermediate (WTI) oil fell 13 cents, or 0.5%, to $ 27.43 per barrel, up 9% in the previous session.
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