KLCI joins regional rebound

KUALA LUMPUR: The FBM KLCI joined Asian markets in a rebound on Thursday following a regional sell-off earlier in the week on the back of rising Covid-19 cases and as Wall Street indices rallied overnight.

At 12.30pm, the key index was up 8.79 points to 1,605.37, in line with its recent pattern of oscillating between dips and rallies.

Glove counters bounced back from profit-taking earlier, rising on the back of expectations of continued demand.

Top Glove rose added 14 sen to RM5.59, Hartalega gained 42 sne to RM10.54 and Supermax climbed 23 sen to RM5.77.

Financial counters eked higher led by Maybank rising one sen to RM8.31, Public Bank adding one sen to RM4.19 and CIMB gaining one sen to RM4.23.

Hong Leong Bank however slid 18 sen to RM17.76.

In tech counters, MPI rose 92 sne ot RM39.3, Vitrox rose 28 sen to RM16.08 and Dataprep was up 16 sen to RM2.41.

Top actives were UCrest down eight sen to 40.5 sen, Key Asic shedding 2.5 sen to 18.5 sen and Focus losing one sen to 10.5 sen.

In Asian markets, Japan equities rebounded after a sharp sell-down earlier in the week on lockdown fears in Tokyo and Osaka. The Nikkei jumped 2%.

Meanwhile, South Korea's Kospi rose 0.4% while China's composite index was flat.

Hong Kong's Hang Seng and Australia's ASX200 were up 0.5% each.
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Bursa Malaysia , FBM KLCI , equities


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