Bursa slightly higher as Hartalega lifts KLCI


  • Markets
  • Thursday, 17 Sep 2020

At Bursa on Tuesday, foreign funds were net sellers at RM223.2mil but local institutions were net buyers at RM69.7mil and local retail investors RM153.5mil.

KUALA LUMPUR: Bursa Malaysia was slightly higher in early Thursday trade as the FBM KLCI was lifted by gains in Hartalega after its strong earnings outlook.

At 9.27am, the KLCI was up 1.36 points or 0.09% to 1,532.64. Turnover was 1.46 billion shares valued at RM921.25mil. There were 434 gainers, 230 losers and 326 counters unchanged.

Bloomberg reported Asian stocks and US futures fell after Federal Reserve Chair Jerome Powell highlighted uncertainty about the economic rebound.

Shares in Japan, Australia and South Korea dipped and S&P 500 contracts declined. The US benchmark erased gains on Wednesday to end the session lower after Powell said policy will remain accommodative while cautioning that the pace of economic activity will likely slow.

At Bursa on Tuesday, foreign funds were net sellers at RM223.2mil but local institutions were net buyers at RM69.7mil and local retail investors RM153.5mil.

Hartalega gained 92 sen to RM15.02, Kossan 58 sen to RM12.28 and HLT 15 sen to RM1.78.

Carlsberg was up 58 sen to RM21.66 and Heineken 36 sen to RM20.86 but Nestle fell RM1.10 to RM139.60.

As for plantations, a more upbeat outlook for Wilmar saw PPB Group advancing 30 sen to RM19.

MMAG jumped 27 sen to RM1.76 and Vitrox 26 sen to RM13.10.

Public Bank fell 40 sen to RM16.30, Maybank eight sen to RM7.42 and Telekom seven sen to RM4.21.

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