Public Bank boosts KLCI, Scomnet and Greatec surge

  • Markets
  • Wednesday, 17 Jun 2020

KUALA LUMPUR: Public Bank and Petronas Dagangan helped the FBM KLCI to chalk up the second day of gains on Wednesday while mid-cap tech-related Supercomnet Technologies and Greatech Technology jumped.

At 5pm, the FBM KLCI was up 8.61 points or 0.57% to 1,526.32. Turnover was 7.55 billion shares valued at RM3.82bil. There were 563 gainers, 439 losers and 379 counters unchanged.

Despite the second day of gains, the KLCI is still down by nearly 20 points after the 50-point tumble on Monday.

Public Bank rose the most, up 54 sen to RM16.96 while HLFG 50 sen higher at RM14.50. Petronas Dagangan and Hap Seng ended the day 18 sen higher at RM20.78 and RM8.55.

Among the consumer stocks, Heineken rose 32 sen to RM21.50 while Nestle added 30 sen to RM139.50.

Supercomnet nearly hit limit up, surging 30 sen to RM1.33 on expectations of securing more contracts while Greatec added 18 sen to RM13.98. SAM Engineering climbed 45 sen to RM6.21.

However, semoicon-related MPI fell 14 sen to RM10.98.

Green Packet climbed three sen to 71 sen with 177.4 million shares done.

TRC Synergy Bhd, which secured a RM113.98mil sub-contract to build the elevated stations and other associated works for the Mass Rapid Transit 2 project, ended the day 3.5 sen higher at 36 sen.

Glove makers retreated on profit taking. Top Glove fell 19 sen to RM2.70, Supermax and Rubberex 13 sen each to RM3.98 and RM2.86 while Comfort Glove gave up 12 sen to RM2.73.

Tenaga gave up some of the previous day’s gains, falling 12 sen to RM11.88.

Reuters reported China shares closed little changed, as investors remained cautious due to Beijing's curbs on travel and movement in some areas to contain a resurgence in the new coronavirus cases in the capital city.

The Shanghai Composite index was up 0.14% at 2,935.87. The blue-chip CSI300 index was up 0.08%.

The wire also reported the Hang Seng index was up 0.56% at 24,481.41. The Hang Seng China Enterprises index rose 0.43% to 9,909.63.

Japanese stocks ended lower as automakers dragged following weak export data, while escalating tensions between North Korea and South Korea also doused the market sentiment. The benchmark Nikkei average closed 0.56% lower while the broader Topix lost 0.40%.

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