KLCI reverses course to resume rally


  • Markets
  • Tuesday, 02 Jun 2020

KUALA LUMPUR: The FBM KLCI managed to overcome early weakness to jump into positive territory at midday.

With investors turning cautious over the escalation of rhetoric in the US amid violent protests, Asian markets were expected to lose some momentum, especially after the recent advance.

At 12.30pm the FBM KLCI was 3.07 points higher at 1,493.21. Trading volume hit 5.47 billion shares valued at RM3.26bil.

Japan's Nikkei rose 1.24% while South Korea's Kospi gained 0.8%. Hong Kong's Hang Seng climbed 0.4% as US threats over the city's special status subsided.

Meanwhile, the Shanghai Composite Index dropped 0.1%

On Bursa Malaysia, Public Bank ran up 58 sen to RM15.16, Petronas Dagangan gained 16 sen to RM22.06 and Tenaga added 12 sen to RM12.02.

Other notable gainers were Bursa Malaysia rising 37 sen to RM8.40, Hap Seng jumping 31 sen to RM7.68 and Hengyuan gaining 12 sen to RM3.71.

Glove makers finally took a breather after meteoric gains. Top Glove fell 76 sen to RM14.78, Kossan slipped 61 sen to RM8.52, Rubberex shed 59 sen to RM3.95 and Hartalega dropped 52 sen to RM12.66.

Most actively traded stocks were K1 rising 8.5 sen to to 53 sen, KNM gaining one sen to 26 sen and Nexgram adding 0.5 sen to three sen.
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Bursa Malaysia , FBM KLCI

   

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