Bursa, Asian markets gain after firmer Wall St close

  • Markets
  • Friday, 20 Mar 2020

KUALA LUMPUR: Bursa Malaysia and Asian markets started Friday on a firmer footing, heaving a sigh of relief over the stronger overnight close on Wall Street.

At 9.10am, the KLCI was up 13.03 points or 1.07% to 1,232.75, underpinned by Bursa Malaysia, Hong Leong Bank and Public Bank. Turnover was 283.66 million shares valued at RM113.32mil. There were 286 gainers, 95 losers and 136 counters unchanged.

Asian shares sought a reprieve as Wall Street eked out gains, bonds rallied and oil boasted its biggest bounce on record, though a panicked rush into US dollars suggested the crisis was far from done, Reuters reported.

South Korean shares bounced 2.6%, though that still left them down 15% for the week. MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.6%, while Australia's beleaguered market rose 2.9%. Japan's Nikkei dipped 1%.

At Bursa on Thursday, foreign funds remained net sellers at RM308.6mil while local institutions were net buyers at RM214.5mil and retail investors RM94.1mil.

Bursa rallied RM1.05 to RM5.47 after assurances from the regulators that trading would not be halted.

Public Bank gained 36 sen to RM13.02, HLFG 32 sen to RM11.70 and HLBank 22 sen to RM12.20.

Heineken climbed 58 sen to RM18.48, Carlsberg 50 sen to RM18.38 and Ajinomoto 32 sen to RM10.60. Nestle fell the most, down RM1.20 to RM135.80.

Batu Kawan lost 10 sen to RM11.30, PMB Tech nine sen to RM2.40, Bonia eight sen to 32 sen and Westports, also down eight sen to RM3.11.

Insurers Allianz and LPI lost eight sen each to RM11.50 and RM10.08.

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KLCI , Public Bank , Wall Street , foreign selling


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