Bursa sees broad recovery, Top Glove, Tenaga lift KLCI

  • Markets
  • Tuesday, 16 Jun 2020

KUALA LUMPUR: Bursa Malaysia closed higher on Tuesday, lifted by Top Glove and Tenaga Nasional, as key Asian markets and European bourses climbed following more support from the US Fed and Bank of Japan.

At 5pm, the KLCI was up 18.88 points or 1.26% to 1,517.71, regaining about two-fifths of the previous day's losses. Year-to-date, the KLCI is down 4.47%.

Turnover was 7.97 billion shares valued at RM4.13bil. Advancers beat decliners 5.4 to one or 947 gainers to 175 losers and 254 counters unchanged.

Reuters reported the global stocks rally was back on track, with more support from the Federal Reserve and the Bank of Japan helping end a bumpy few days for financial markets.

A nearly 5% jump by Japan's Nikkei ensured the best day for Asian equities since late March and almost 2% rises from London, Paris and Frankfurt got Europe off to a fast start. South Korea's Kospi rallied 5.28% and Hang Seng Index 2.39%.

At Bursa, Top Glove was the top gainer, up 76 sen to RM15.96 and added 3.20 points to the KLCI while Hartalega gained 36 sen to RM12.04 and lifted the index by nearly two points. Supermax added 45 sen to RM7.32 and Comfort Gloves 28 sen to RM2.85.

Nestle rose 70 sen to RM139.20 but F&N fell the most, down 22 sen to RM32.34 and Carlsberg shed eight sen to RM23.90.

Tenaga rose 18 sen to RM12 and lifted the KLCI by 1.61 points, Genting 15 sen to RM4.33, GentingM 11 sen to RM2.60. MAHB was up 15 sen to RM5.95 but Sime Darby lost one sen to RM2.19.

Crude palm oil for third month delivery rose RM66 to RM2,359 per tonne. PPB Group gained 12 sen to RM17.42, Sime Plantation four sen to RM4.97, IOI Corp two sen to RM4.33 but KL Kepong shed two sen to RM22.40.

Prestariang jumped 14 sen to 46.5 sen in active trade. Greatec climbed 32 sen to RM3.80 and JHM 29.5 sen to RM1.19.

US light crude oil rose 62 cents or 1.67% to US$37.74 and Brent gained 78 cents or 1.96% to 40.40. Petronas Dagangan added 10 sen to RM20.60, Petronas Chemicals eight sen to RM6.55 but Petronas Gas shed four sen to RM17.56. Dialog gained three sen to RM3.63.

Among the banks, CIMB rose 10 sen to RM3.73, Maybank six sen to RM7.76, Public Bank was flat at RM16.42, RHB Bank edged ip two sen to RM4.86 but HL Bank lost two sen to RM14.78 and AmBank shed one sen to RM3.14.

The ringgit firmed up 0.11% against the US dollar to 4.2740.

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