FBM KLCI bounces in holiday-shortened session

KUALA LUMPUR: A bounce in financial heavyweights and glove counters saw the FBM KLCI close higher amid a holiday-shortened trading day.

Bursa Malaysia will remain closed for the afternoon session and will resume trading on Monday following the Hari Raya holiday weekend.

At 12.30pm, the FBM KLCI finished 4.88 points higher at 1,582.52. The broader market was positive with 582 gainers versus 361 decliners as investors picked up on bargains following a decline earlier this week.

Trading volume was 2.59 billion shares valued at RM1.92bil.

Public Bank, which posted positive earnings results yesterday, rose four sen to RM4.15 while Maybank gained two sen to RM8.21, CIMB climbed eight sen to RM4.18 and Hong Leong Bank jumped 30 sen to RM17.70.

Top Glove also saw buying interest, rising 17 sen to RM5.35 while Hartalega put on six sen to RM9.53 and Supermax gained 14 sen to RM4.77.

Top actives were Focus down 0.5 sen to six sen, Grand Ocean flat at 4.5 wsen and MTouche up 0.5 sen to 28.5 sen.

Meanwhile, a sell-off in equities took place in Asian markets amid surging commdity prices and fears of inflationary pressure in the US.

Japan's Nikkei and South Korea's Kospi each tumbled 2%.

China's main index was flat while Hong Kong's Hang Seng slid 0.4%. Australia's ASX200 slid 1.2%.
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Bursa Malaysia , FBM KLCI , equities


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