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KUALA LUMPUR (September 15): FBM KLCI erased its loss and rose before the midday break today, following its regional peers, as glove maker Hartalega Holdings Bhd led the winners.
At 12:30 p.m. M., The KLCI was up 6.45 points at 1,517.81. The index previously fell to a low of 1,503.19.
The winners led the losers by 426 to 289, while 681 meters traded unchanged. The trading volume was 5.85 billion shares valued at RM3.42 billion.
The top winners were Hartalega Holdings Bhd, Malaysia Pacific Industries Bhd, Kuala Lumpur Kepong Bhd, Carlsberg Brewery Malaysia Bhd, Heineken Malaysia Bhd, TIME dotCom Bhd, MMAG Holdings Bhd and KESM Industries Bhd.
Actively traded stocks include Parkson Holdings Bhd, Hiap Teck Venture Bhd, Anzo Holdings Bhd, Zelan Bhd, Ekovest Bhd, PDZ Holdings Bhd, and Kanger International Bhd.
Those that declined included Supermax Corp Bhd, Rubberex Corp (M) Bhd, Comfort Gloves Bhd, Top Glove Corp Bhd, Petronas Gas Bhd, Batu Kawan Bhd, Tenaga Nasional Bhd (TNB), Adventa Bhd and LKL International Bhd.
Reuters He said Asian stocks extended their gains today while the US dollar fell, with investor sentiment supported by Chinese data and optimism about Covid-19 vaccines.
Chinese blue chips rose 0.4%, driven by data showing that China’s industrial production increased 5.6% in August from a year earlier, expanding for the fifth consecutive month, it reported.
Hong Leong Investment Bank (HLIB) Research said that, led by an overnight rally on Wall Street and increased optimism about vaccines, coupled with an improved technical picture, the KLCI may rise a bit higher today ahead of the holiday. of the Malaysian Day tomorrow.
However, the research house said a further rally could be capped during September’s seasonal slowdown (the KLCI fell an average 1.7% during the month from 2000 to 2019) amid elevated risks due to internal political uncertainties ahead of the Sabah state elections on September 26. the expiration of the six-month grace period for loan repayments at the end of September, a review of Malaysia’s position on the World Government Bond Index at the end of the month, concerns about the government’s main source of revenue after the Petroliam Nasional Bhd (Petronas) slow results for the first half of fiscal year 2020 (1HFY20), concern about a resurgence of Covid-19 in the fall and winter, persistent tensions between the United States and China, a stalemate on additional aid for the pandemic in the United States Congress and the imminent presidential elections of the United States next November. 3.
“The key supports are set at 1,474-1,461-1,428, while the resistances are located near 1,521-1,542,” added the research house.
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