Timely shot in the arm

TheStar Wed, May 20, 2020 08:00am - 3 years View Original


The FBM KLCI closed 13.81 points higher to 1,424 yesterday with churning still at a high level with volume remained high at 9.5 billion shares done on value of RM4.6bil. There were 500 gainers, 553 losers and 335 unchanged counters. The number of shares traded was a record 11.2 billion on Monday.

PETALING JAYA: News of headway in the race for a Covid-19 vaccine and rotation play in stock themes sent stocks on Bursa Malaysia higher.

Taking the lead from Wall Street, the FBM KLCI along with key Asian markets rallied as early-stage data for a potential Covid-19 vaccine renewed hopes for a rapid reopening of the global economy.

Rotational plays too gripped trading activity as “healthcare” stocks took a backseat after giving way to oil and gas stocks on Monday.

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