KUALA LUMPUR (June 1): The FBM KLCI ticked up on the first trading day of June as index-linked glovemakers continued to lift the local index higher, against the backdrop of mixed regional markets while Malaysia factory output in May stabilised.

The early gainers included Top Glove Corp Bhd, Tong Herr Resources Bhd, Mega First Corp Bhd, Adventa Bhd, Rubberex Corp Bhd, Tenaga Nasional Bhd, Kossan Rubber Industries Bhd, Supermax Corp Bhd, Hartalega Holdings Bdh and Careplus Group Bhd.

The Malaysian manufacturing sector showed signs of approaching stabilisation midway through the second quarter, with rates of reduction in output, new orders and employment all easing considerably.

The headline IHS Markit Malaysia Manufacturing Purchasing Managers’ Index (PMI) rose sharply to 45.6 in May, from April's survey-record low of 31.3.

At 9.05am, the FBM KLCI rose 4.72 points to 1,477.98.

The early decliners included Nestle (M) Bhd, Kuala Lumpur Kepong Bhd, Petronas Dagangan Bhd, Genting Plantations Bhd, Fraser & Neave Holdings Bhd, Petronas Gas Bhd, Heineken Malaysia Bhd, Ornapaper Bhd and Hartalega Holdings Bhd.

The early gainers included Nestle (M) Bhd, Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd, Petronas Dagangan Bhd, Kossan Rubber Industries Bhd, Heineken Malaysia Bhd and United Plantations Bhd.

Bloomberg said U.S. stock futures retreated, while Asian equities were largely mixed in early Monday trading, as investors weighed the violent protests in some American cities that have stoked concerns about a reacceleration in infection rates and a damper on the economic recovery.

JF Apex Securities Research said US markets ended mixed on Friday following rising tension between the US and China.

It said that earlier, European stocks declined as US threatened to revoke Hong Kong's special trade status.

“On the local market, the FBM KLCI surged 15.75 points to 1473.25 points.

“Following the mixed performances in the US and Europe, the FBM KLCI could move sideways and consolidate above the 1450-point threshold,” it said.

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