KUALA LUMPUR: Blue chips staged a steady rebound early Monday, setting to a hopeful firmer December, as investors took heart from the US-China truce.
At 9.04am, the FBM KLCI was up 6.15 points or 0.37% to 1,686.01. Turnover was 116.15 million shares valued at RM83.55mil. There were 204 gainers, 78 losers and 110 counters unchanged.
Asian shares rallied on Monday after US and Chinese leaders brokered a truce in their trade conflict, a relief for the global economic outlook and a tonic for emerging markets, Reuters reported.
E-Mini futures for the S&P 500 climbed as much as 1.9%. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.6%. Nikkei gained 0.9% to a six-week high.
At Bursa, MPI gained 30 sen to RM10.30, HL Bank 28 sen to RM20.66, Petronas Gas 22 sen to RM19.16 and Muhibbah 19 sen to RM2.90.
Supermax and Serba Dinamik
added 15 sen each to RM3.57 and RM3.75 while KESM added 14 sen nto RM8.17 and Pentamaster 12 sen to RM3.18.
Bumi Armada steadied, up 1.5 sen to 17.5 sen with 13.4 million shares after the recent heavy selling pressure which pushed its shares to fresh historic lows.
Genting Malaysia fell three sen to RM2.83 after posting net losses of RM843.7m in the third quarter mainly due to a RM1,896m impairment on the group’s investment in the promissory notes issued by the Native American Mashpee tribe for the development of an integrated gaming resort in the US on a piece of tribal land.
FGV lost four sen to 84.5 sen in active trade.
F&N fell 72 sen to RM32.60, Petronas Dagangan 28 sen to RM25.52 and Padini 24 sen to RM4.56 while PPB Group lost 20 sen to RM17.40.
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