KLCI gets boost from IHH Healthcare and Hartalega


  • Markets
  • Wednesday, 13 May 2020

KUALA LUMPUR: Bursa Malaysia saw heavy trading in penny stocks while healthcare stocks and glove makers lifted the FBM KLCI near the key 1,400 level on Wednesday.

At 5pm, the FBM KLCI was up 17.20 points or 1.25% to 1,397.53, but off the day's high of 1,400.67.

Trading volume on Bursa hit an all-time high of 9.59 billion units while trading value was RM5.10bil. The broader market was weaker with decliners beating advancers 558 to 395 while 350 counters were unchanged.

Sentiment was given a boost as the first quarter GDP data came in above expectations at 0.7% though the central bank cautioned the country would contract in the second quarter due to the movement control order in place since mid-March.

The ringgit edged up 0.04% to 4.3278 against the US dollar.

Among the active stocks were HLT Global warrants which saw 505.93 milllion units done. It closed up seven sen to 28 sen and HLT ended 11.5 sen higher at 49.5 sen with 321.11 million shares done.

Other actively traded stocks were K-One Technology, BCM Alliance, LKL International and

Carelplus Group. But the stocks ended off their intra-day highs.

Glove makers dominated the gainers list with Hartalega climbing RM1.33 to RM8.86 and Top Glove RM1.32 to RM9.31, Kossan 87 sen to RM7.17 while Supermax gained 17 sen to RM3.60.

IHH rose 19 sen to RM5.35 after it announced it would provide the virtual consultation services to Malaysia, Singapore, Turkey, India and Hong Kong.

However, Tenaga Nasional fell 24 sen to RM12.10, Sime Darby five sen to RM1.90. Genting four sen to RMRM4.01 and GentingM one sen lower at RM2.31 but MAHB rose 20 sen to RM5.

Crude palm oil for third month delivery rose RM32 to RM2,026 per tonne. IOI Corp rose 14 sen to RM3.99 and KL Kepong added four sen to RM20.64 but PPB Group lost eight sen to RM16.40 and Sime Darby Plantation one sen lower at RM4.73.

Among the banks, CIMB rose nine sen to RM3.50, Hong Leong Bank 14 sen to RM13.40, Pubic Bank eight sen to RM15.60 and RHB Bank three sen to RM4.653 but Maybank shed five sen to RM7.39.

US light crude oil fell 26 cents or 1% to US$25.52 and Brent 42 cents lower or 1.4% to US$29.56.

Petronas Gas added 10 sen to RM14.94, Petronas Chemicala two sen higher at RM5.42 but Petronas Dagangan lost 22 sen to RM19.72. Dialog added nine sen to RM3.35.

Among the key Asian markets, Japan's Nikkei 225 fell 0.49%, Hong Kong's Hang Seng Index 0.27% but Shanghai Composite rose 0.22%, Taiwan's Taiex added 0.54% and South Korea's Kospi 0.95% but Singapore's STI fell 0.61%.

Reuters reported most Southeast Asian stock markets slipped as investors worried that lifting of coronavirus lockdowns could lead to a second wave of infections and set back economic recovery,

Investor sentiment was hit after a leading U.S. infectious disease expert warned on Tuesday that a premature lifting of restrictions could lead to additional outbreaks of the novel coronavirus.

The Indonesian index was the worst performer in the region, slipping 0.8%, with all major sectors in the red on broad-based selling, it reported.

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glove makers , healthcare , pandemic , penny stocks

   

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