KLCI closes at highest in nearly 5 months

  • Markets
  • Thursday, 04 Jun 2020

KUALA LUMPUR: Bursa Malaysia marched higher for the seventh consecutive session in line with gains across the region, to move above the 1,560-point threshold.

The FBM KLCI closed at its highest level in almost five months to 1,561.84 points, up 23.31 points, or 1.52% against the closing on Wednesday.

Market breadth is positive with advancers outpaced the decliners on a ratio of 634-to-389 stocks. Traded volumes declined to 8.18 billion shares valued at RM6.11bil.

Dealers said the performance of the local bourse was in line with most of its regional peers. They noted that glovemakers staged a slight recovery from their slump in recent days.

The external trade data released this afternoon did not seem to have dampened the local sentiment as much.

The latest economic data showed Malaysia's exports in April 23.8% on-year, the steepest fall in a decade, to RM64.92bil while imports decreased by 8% to RM68.42bil.

Malaysia recorded a trade deficit of RM3.5bil in April after 269 straight months of surplus on account of higher contraction in exports compared to imports.

The top gainers on Bursa Malaysia included Hap Seng Consolidated Bhd, Nestle, Supermax Corp Bhd, Rubberex Corp and Top Glove Corp.

Hap Seng added RM1.30 to RM9.60, Nestle gained RM1.10 to RM140.40 and Supermax rose RM1.06.

Rubberex advanced 78 sen to RM3.71 while Top Glove rose 74 sen to RM15.44.

The decliners included ViTrox Corp, NPC Resources and Imaspro Corp. All three counters fell 20 sen to RM8.32, RM1.70 and RM2.19 respectively.

Meanwhile, the ringgit fell 0.32% to 4.2755 against the US dollar. The local currency was down 0.1% against the euro at 4.7906.

It rose 0.25% against the pound sterling at 5.3505 and 0.06% against the Singapore dollar at 3.0492.

Among the key regional markets,

Japan’s Nikkei 225 rose 0.36% to 22,695.74;

Hong Kong’s Hang Seng Index added 0.17% to 24,366.30;

Shanghai’s Composite Index fell 0.14% to 2,919.25;

Taiwan’s Taiex rose 0.65% to 11,393.23;

South Korea’s Kospi rose 0.19% to 2,151.18;

Singapore’s Straits Times Index rose 0.25% to 2,707.20.

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