KLCI surges to 2 month high as banks lead but gloves slump

KUALA LUMPUR: Bursa Malaysia recorded its strongest performance in over two months on Tuesday with trading volume surging and investors piling into banks and leisure stocks while reducing their stakes in glove makers on the positive development of a Covid-19 vaccine.

At 5pm, the FBM KLCI had surged 50.75 points, or 3.33% to 1,575.07, the highest since mid-August. The index opened 2.37 points lower at 1,521.95 this morning.

The 3% gain is the biggest move since rising 6.85% on March 20. The index is up 7.77% in the past five days.

Trading volume surged to 12.31 billion shares valued at RM8.44bil. There were 747 positive counters versus 609 decliners and 331 unchanged.