Public Bank, glove stocks advance, semicon stocks up

KUALA LUMPUR: Public Bank and selected glove stocks helped the FBM KLCI to eke out slim gains early Friday while semiconductor and tech related counters were mostly higher

At 9.15am, the FBM KLCI was up just 0.31 points or 0.02% to 1,499.11. Turnover was 510.71 million shares valued at RM308.56mil. There were 302 gainers, 205 losers and 330 counters unchanged.

US equity futures were steady and benchmark Treasury yields remained near their highest since June as traders focused on the final presidential debate and lawmakers in Washington continued to haggle over a spending bill. Asian stocks were mixed, Bloomberg reported.

Japan’s Topix index slid 0.2% and South Korea’s Kospi dipped 0.2% while Australia’s S&P/ASX 200 Index retreated 0.3%.

At Bursa, Public Bank gained 12 sen to RM15.68 and gave the KLCI a slight boost. AmBank shed six sen to RM2.95 while Aeon Credit lost 19 sen to RM9.95.

Also adding gains were Supermax, up 15 sen to RM9.62 and Hartalega 14 sen to RM17.94 while Careplus advanced seven sen to RM3.97.

Vitrox’s strong earnings in 3Q saw the share price climb 46 sen to RM14.40 while JFTech added 16 sen to RM4.73 and UWC 13 sen to RM6.93 but MPI lost 18 sen to RM20.42 on profit taking.

North America-based manufacturers of semiconductor equipment reported strong global billings in September, reflecting the demand for semiconductors.

The Semiconductor Equipment Manufacturers Industry reported billings rose to US$2.75bil in in September, up 3.6% on-month and jumping 40.3% on-year.

As for consumer stocks, Nestle slipped RM1.80 to RM14.270 with just 300 shares done, giving up some of the previous day’s late gains. Carlsberg lost 36 sen to RM19.80 but BAT rebounded 18 sen to RM9.98.

Among plantations, PPB Group fell 32 sen to RM18.78 and Genting Plantations 28 sen to RM10.

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