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KUALA LUMPUR: Public bank led front-line stocks to the upside in trading early Tuesday amid cautious external market as investors awaited a decision by US lawmakers to pass an economic stimulus bill ahead of the election presidential elections on November 3.
At 9.15 a. M., The FBM KLCI was up 1.48 points or a mere 0.1% to 1,519.59. The turnover was 1.42 billion shares valued at RM660.47 thousand. There were 231 winners, 318 losers, and 337 unchanged counters.
Asian stocks came under pressure on Tuesday as the deadline for US lawmakers to pass an economic stimulus bill approached and the daily record of coronavirus infections in Europe raised concerns about more severe shutdowns, Reuters reported.
In early Asia trading, Australian stocks fell at the open, while MSCI’s indicator of stocks worldwide lost 0.06%.
Chris Weston, head of research at Melbourne’s Pepperstone brokerage, attributed the decline to concerns about Washington’s stimulus package and its positioning ahead of the presidential election.
In Bursa on Monday, foreign funds became net buyers at RM101.6k, while local institutions were net sellers at RM101.4k and local retail investors at RM200,000.
In early Tuesday trading, Public Bank was up 12 sen to RM15.96. Regarding consumer actions, Dutch Lady
added 60 sen to RM38 and Carlsberg eight sen to RM19.16.
Scientex continued to attract strong interest rising 24 sen to RM12.64. Hong Seng’s consolidated collateral rose 22 sen to RM1.02.
Mah Sing’s foray into glove making and healthcare saw the real estate company’s shares continue to advance, up to 12 sen at RM1.36. Supermax added eight sen to RM10.78.
Kotra rose eight sen to RM3.44 as interest in health products continued.
Yinson managed to recover slightly, rising nine sen to RM4.91 after the sell-off the day before.
Luster was the most active stock, up five sen to 27.5 sen with 263 million shares realized while its warrants gained 4.5 sen to 17.5 sen.
Aneka Jaringan lost 3.5 sen to 29.5 sen with 51.5 million shares made.
Tech and semiconductor stocks gave up some of Monday’s gains. PMBTech-LA fell 19 sen to RM2.71, Greatec 13 sen to RM7.80 and MPI 12 sen to RM20.28.
Sime Plantation lost five sen to RM4.95 and was a drag on the KLCI.
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