Bursa, Asian markets climb on US spending bill to check Covid-19


  • Markets
  • Thursday, 05 Mar 2020

At Bursa on Wednesday, foreign funds continued to reduce their stakes as net selling was RM119.40mil but local institutions were net buyers at RM105.40mil and retail investors at RM14mil.

KUALA LUMPUR: Bursa Malaysia and key Asian markets advanced early Thursday after the US Congress authorised nearly US$8bil to check the fallout from the Covid-19 coronavirus.

At 9.11am, the KLCI was up 6.08 points or 0.41% to 1,496.03. Turnover was 231.64 million shares valued at RM115.41mil. There were 278 gainers, 70 losers and 184 counters unchanged.

Bloomberg reported Asian stocks extended a global equity rally after an emergency U.S. spending bill to combat the impact of the coronavirus added to signs of support from policy makers around the world. The yen held losses.

Equities in Japan and Australia opened more than 1% higher, with regional shares set for a fourth day of gains. US futures dipped after the S&P 500 surged more than 4%.

At Bursa on Wednesday, foreign funds continued to reduce their stakes as net selling was RM119.40mil but local institutions were net buyers at RM105.40mil and retail investors at RM14mil.

Nestle rose RM1.40 to RM142.70 with 100 shares done while Carlsberg added 28 sen to RM29.58.

KESM was up 14 sen to RM9.10, Daibochi 12 sen to RM2.50 and Kossan 10 sen to RM4.95.

Petronas Dagangan and Petronas Chemicals added 12 sen to RM22.20 and RM5.62 while Public Bank was up 10 sen to RM18.

Allianz fell 10 sen to RM15.10, EPMB 4.5 sen to 32.5 sen, Ideal and UEM-Edgenta four sen each to RM1.31 and RM2.41 while Sunsuria and XDL lost 2.5 sen each to 50.5 sen and 14 sen.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Covid-19 , Congress , KLCI , foreign funds

   

Did you find this article insightful?

Yes
No

Across the site