KLCI surges above 1,500 level

  • Markets
  • Tuesday, 02 Jun 2020

KUALA LUMPUR: The bull continued to charge on Bursa Malaysia, lifting the local bourse above the 1,500-point level.

At 5pm, the 30-stock index stood at 1,507.69, its highest since late February. The index rose 1.18%, or 17.55 points today. It opened 5.63 points weaker at 1,484.51 this morning.

Year-to-date, the FBM KLCI fell some 5% from 1,588.76 on Dec 31, 2019.

Market breadth is positive as gainers overpowered the losers on a ratio of 596-to-428 stocks. Traded volume stood at 9.62 billion shares worth RM6.2bil.

Dealers said market sentiment was supported by the firmer key regional markets and buying in selected blue chips.

On the external front, Reuters reported that the MSCI's Asia ex-Japan stock index was firmer by 0.78%. Japan's Nikkei index closed up 1.19% while Hong Kong’s Hang Seng index was up 1.11% at 23,995.94.

Of the 30 component stocks, 29 closed higher while nine fell. Malaysia Airport contributed the most to the index gain and had the largest move, increasing 14.2% to RM5.79.

Public Bank, the top gainer on Bursa Malaysia, jumped RM1.06, or 7.27%, to RM15.64. Genting Bhd added 43 sen to RM4.43 and Hap Seng rose 42 sen to RM7.79.

On the other hand, Top Glove was the biggest drag on the index. The glovemaker fell 74 sen to RM14.80 on profit-taking.

Calrberg fell RM1 to RM25.18, Heineken Malaysia declined 90 sen to RM21.50 and Nestle lost 80 sen to RM139.20.

Meanwhile, the ringgit was up almost 1% against the US dollar at 4.2775, and fell 0.4% against the pound to 5.3719.

The local currency gained 0.51% against the euro at 4.7805 and advanced 0.39% to 3.0533 against the Singapore dollar.

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KLCI , Bursa


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