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KUALA LUMPUR: Public Bank gave FBM KLCI a big boost early Wednesday after its bonus plan, as key Asian markets rose to new records, following the firm’s closing overnight on Wall Street.
At 10 a.m. M., The KLCI was up 16.83 points, or 1.03%, at 1,648.53. The turnover was 3.38 billion shares valued at RM1.65bil. There were 423 winners, 534 losers, and 377 unchanged counters.
Bloomberg reported that Asian stocks rose after a new record for their US counterparts, as hopes for a stimulus deal dampened concerns about a surge in coronavirus cases.
Hong Kong’s Hang Seng Index rose 0.8%, Japan’s Topix Index rose 0.6%, South Korea’s Kospi Index rose 0.9%, Shanghai Composite gained 0.2% and Euro Stoxx 50 futures were up 0.3%.
Treasury Secretary Steven Mnuchin presented a new Covid-19 relief proposal of 916 billion dollars to the Speaker of the House of Representatives, Nancy Pelosi, who praised the progress in the negotiations, although he considered that parts of the plan they were “unacceptable”.
Public Bank jumped RM1.56 to RM20.02 with 9.24 million shares made after its four-for-one bonus issue. LPI, which is one of the major shareholders of Public Bank, added 44 sen to RM13.44.
Hong Leong Bank gained 76 sen to RM18.98 and HLFG added 34 sen to RM17.54.
UWC rose 41 sen to RM9.25 and MPI 28 sen to RM25.70.
AAX jumped 4.5 sen to 11.5 sen with 444 million shares made while AirAsia
It rose 5.5 sen to 93.5 sen with 110 million units sold.
The Petron and Hengyuan refineries fell in profit-taking after the recent rally. Petron lost 30 sen to RM5.46 and Hengyuan 25 sen to RM5.86.
Supermax lost 23 sen to RM802, Adventa and Comfort 18 sen each to RM1.83 and RM3.74 while Careplus fell 16 sen to RM2.73.
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