Firmer start for Bursa, Top Glove, Supermax advance

  • Markets
  • Monday, 14 Sep 2020

KUALA LUMPUR: Bursa Malaysia started Monday on a firmer note with Top Glove and Supermax among the top gainers while key Asian markets edged higher.

At 9.27am, the FBM KLCI was up 6.95 points or 0.46% to 1,511.80. Turnover was 1.21 billion shares valued at RM1.02bil. There were 451 gainers, 214 losers and 316 counters unchanged.

Asian shares started higher on Monday as hopes of a coronavirus vaccine were rekindled after AstraZeneca resumed its phase-3 trial while sentiment was still cautious ahead of a big week of central bank meetings in UK, Japan and the US, Reuters reported.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5%, poised for its second straight session of gains. Australian shares climbed 0.2% while Japan's Nikkei added 0.3%.

Last week, the sell-down on Bursa was due to profit taking by local institutions which were net sellers at RM527.5mil while local retail investors propped up the market with net buying of RM456.6mil and foreign funds at RM70.9mil.

Nestle was the top gainer, up RM1.90 to RM140.40 with 2,600 shares done.

Supermax added 85 sen to RM8.35, Top Glove 78 sen to RM8.54 and Kossan 58 sen to RM11.26.

However, Tenaga Nasional weighed on the KLCI when it fell 18 sen to RM11.24, Maybank 12 sen to RM7.33 and Hong Leong Bank eight sen to RM5.40.

Transport company Tasco fell seven sen to RM1.45 while Petronas Chemicals and Genting shed six sen each to RM5.58 and RM3.42.

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