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KUALA LUMPUR: The FBM KLCI jumped in morning trading, mainly due to the rapid purchase of Public Bank shares following the group’s announcement of a bond issue.
At 12:30 p.m., the key index was up 15.63 points to 1,647.33. Trading volume increased to 7.29 billion shares valued at RM3.5bil.
Public Bank was very well focused, rising RM1.48 to RM19.94 thanks to a historic four-for-one bond issue. LPI Capital, controlled by Tan Sri Teh Hong Piow, also rose 30 sen to RM13.30.
Meanwhile, other bank accountants also advanced, including Maybank rising 11 sen to RM1.92, Hong Leong rising 56 sen to RM18.78 and CIMB gaining three sen to RM3.96.
Glove counters sank after yesterday’s rally, dashing hopes that health stocks were poised for a sustained recovery.
Top Glove lost 10 sen to RM6.99 and Hartalega
it fell 10 sen to RM14.56 while Supermax slid 27 sen to RM7.98.
Meanwhile, AirAsia Accountants were among the most traded of the day, as the group expected to receive final approval for its BigPay loan business by the first quarter of 20201.
AirAsia rose 5.5 sen to 93.5 sen while AirAsia X jumped three sen to 10 sen.
Other highly traded stocks include XOX rising 0.5 sen to 11 sen, Hua-An rising two sen at 13 sen and Yong Tai rising 1.5 sen at 36 sen.
With more news on the Covid-19 vaccine to fuel recovery sentiment, Asian markets extended their gains in an uptrend.
The Nikkei rose 1.15%, while China’s main index added 0.1% and Hong Kong’s Hang Seng added 1.3%.
South Korea’s Kospi was up 1.5% and Australia’s ASX 200 was up 0.6%.
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