FBM KLCI rises ahead of corporate earnings


KUALA LUMPUR: The FBM KLCI continued its rebound on the first day of trading after the Raya weekend as it tracked Wall Street's bounce last Friday while anticipating the release of corporate earnings results.

While sentiment on the market remained weak due to MCO3.0, investors have turned to bargain hunting following the recent sharp decline in equities prices.

At 12.30pm, the key index was up 4.5 points to 1,587.02 with the main gainers being financial heavyweights and glove maker Hartalega.

Among banks, Maybank rose 10 sen to RM8.31, Public Bank gained five sen to RM4.19and CIMB climbed three sen to RM4.21 Hong Leong Bank however dipped two sen to RM17.68.

Hartalega jumped 21 sen to RM9.74 although sector rival Top Glove shed nine sen to RM5.26 and Supermax lost seven sen to RM4.70.

On the broader market, gold merchant Tomei jumped 29 sen to RM1.30 while Poh Kong climbed 21 sen to RM1.03.

Of actives, Lambo was unchanged 1.5 sen, UCrest gained 7.5 sen to at 37.5 sen and Kanger gained one sen to 8.5 sen.

In Asian markets, results were mixed ahead of the release of China's economic data, which is expected to show robust growth in industrial output and retails sales.

Japan's Nikkei fell 1.3% while SOuth Korea's Kospi slid 0.9%.

In China, the main index was up 1% followed by a 0.4% jump in Hong Kong's Hang Seng.

Australia's ASX200 was up 0.4%.
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Bursa Malaysia , FBM KLCI , equities

   

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