KUALA LUMPUR: Banks and glove makers underpinned the FBM KLCI's stronger close on Thursday as investors were looking past the Covid-19-hit second quarter economic performance to a stronger year for the country.
At 5pm, the FBM KLCI was up 19.78 points or 1.27% to 1,576.42. Turnover declined to 11.66 billion shares valued at RM4.97bil. The broader market was positive with 607 gainers, 491 losers and 405 counters unchanged.
Bank Negara is scheduled to announce its second quarter GDP data at midday on Friday. Due to the impact of the pandemic, it is likely to revise its earlier growth forecast for this year and next year. A Bloomberg survey showed a 10.7% contraction in 2Q compared with a 0.7% growth in 1Q.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
