KLCI advances on Petronas stocks, Nestle, Hap Seng

  • Markets
  • Thursday, 06 Aug 2020

KUALA LUMPUR: Bursa Malaysia climbed in early Thursday trade, underpinned by gains in blue chips including Petronas-linked stocks, Nestle and Hap Seng.

At 9.30am, the FBM KLCI was up 11.74 points or 0.75% to 1,579.87. Turnover was 3.06 billion shares valued at RM1.43bil. There were 449 gainers, 309 losers and 381 counters unchanged.

Bloomberg reported Asian stocks opened mixed after a three-day advance, while US futures gained amid encouraging news on the vaccine front and speculation over progress on a stimulus package. The dollar slipped toward its lowest in almost two years.

It reported shares were flat in Japan and pushed higher in South Korea and Australia. S&P 500 futures climbed after the gauge rose to within 2% of its record closing high.

Gold remained above $2,000 an ounce. The offshore yuan touched a five-month high

At Bursa on Wednesday, foreign funds increased their selling to net RM336.9mil but the selling was well absorbed by local institutions and local retail investors which were net buyers at RM135.5mil and RM201.4mil.

In early Thursday trade, Nestle rose 40 sen to RM139.80, Hap Seng 21 sen to RM8.39 while Petronas Dagangan added 24 sen to RM20.30 and Petronas Gas 20 sen to RM16.48.

UPA was the top gainer, surging 62 sen to RM2.70 with 72,300 shares done as traders chased healthcare companies. Duopharma hit a record high and Pharmaniaga chalked up strong gains on Wednesday.

Notion V-Tec was the roll, surging 30 sen to RM1.74 in heavy trade.

Jewellery maker Tomei climbed 19 sen to RM1.37 as its margins would benefit from the surge in gold prices.

HLT which is also involved in glove production, climbed 23 sen to RM2.68 and its warrants 20 sen to RM1.92.

However, Adventa fell 17 sen to RM4.91, Karex 15 sen to RM1.01, Careplus 12 sen to RM5.28, Hartalega and Rubberex 10 sen each to RM19.70 and RM6.68.

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healthcare , gloves , Tomei


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