KLCI bounces back, Public Bank, Telekom advance

TheStar Wed, Nov 25, 2020 05:59pm - 3 years View Original


KUALA LUMPUR: Blue chips managed to recoup all of their previous day’s losses on Wednesday as investor sentiment was bolstered by strong key Asian markets, with Public Bank and Telekom Malaysia underpinning the FBM KLCI’s advance.

At 5pm, the KLCI was up 19.19 points or 1.22% to 1,597.58. Turnover was 8.91 billion shares valued at RM4.22bil. Advancers led decliners 653 to 496 with 483 counters unchanged.

In Asia, Japan's Nikkei earlier rose to a 29-year high. MSCI's index of Asia-Pacific shares outside Japan traded down 0.2% as Chinese shares were capped by worries about rising debt defaults.

Reuters reported global shares reached record highs after the Dow Jones Industrial Average broke 30,000, with investors relieved at the prospect of a smooth handover of power after the US presidential election and confident a Covid-19 vaccine would soon be ready.

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