Tenaga, Public Bank help KLCI close higher

  • Markets
  • Tuesday, 22 Sep 2020

KUALA LUMPUR: Bursa Malaysia closed lower on Tuesday but the 30-stock FBM KLCI managed to stay above the key 1,500 level, underpinned by gains in Tenaga Nasional and Public Bank.

At 5pm, the KLCI was up 6.35 points or 0.42% to 1,505.78. It started in the red and rose to an intra-day high of 1,511.90 before coming under some selling pressure.

Turnover was 6.54 billion shares valued at RM3.92bil. Decliners beat advancers 600 to 431 or about six losers to four gainers and 457 counters were unchanged.

Reuters reported South Korean stocks led a slide in emerging Asian markets on Tuesday, shedding more than 2% to touch a one-month low, as investors dumped riskier assets after fresh Covid-19 outbreaks in Europe hit hopes for a speedy global recovery.

Taiwan equities, among Asia's winners from months of Covid-19 coronavirus-driven volatility, and Indonesia, among the hardest hit, were both down around 1% each.

At Bursa, Public Bank rose 18 sen to RM15.86, managing to erase some of its recent losses, and added 1.08 points to the KLCI.

HLFG was the top gainer, up 50 sen to RM14.46, Hong Leong Bank added 10 sen to RM14.94, Maybank and RHB Bank edged up one sen each to RM7.20 and RM4.75 while CIMB was flat at RM3.12. Aeon Credit was among the top gainers, up 37 sen to RM9.81.

Tenaga ended the day 12 sen higher at RM11.02 and added 1.06 points to the KLCI, IHH Healthcare added three sen to RM5.31, GentingM and Genting four sen higher to RM2.15 and RM3.37 while Sime Darby added four sen to RM2.34.

As for glove makers, Supermax rose 41 sen to RM7.70 and Careplus 15 sen to RM2.81, Hartalega six sen to RM14.06, Kossan four sen to RM11.98 and Top Glove three sen to RM8.03.

As oil and gas stocks, Petronas Dagangan gained eight sen to RM20.48, Petronas Chemicals two sen to RM5.62 and Petronas Gas 10 sen lower to RM16.50 while Dialog shed one sen to RM3.87.

As for plantations, PPB Group added 10 sen to RM19.14, KL Kepong six sen to RM22.70, Sime Plantation was flat at RM5.05 while IOI Corp shed one to RM4.46.

Other decliners were United Plantation, down 20 sen to RM14.80, Genting Plantation 16 sen to RM9.84 and Riverview 13 sen to RM2.75.

MMAG was the top loser, down 47 sen to RM1.16 with 97.96 million shares as investors took profit after the rally.

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