Bursa closes higher, boost from Petronas Chemicals, Top Glove

TheStar Tue, Oct 13, 2020 05:50pm - 6 months ago


KUALA LUMPUR: Bursa Malaysia pared its earlier losses on Tuesday to close higher with the FBM KLCI's advance underpinned by gains in Petronas Chemicals and Top Glove.

Local market sentiment was lifted following a recovery in key Asian markets.

At 5pm, the KLCI was up 6.77 points or 0.45% to 1,525.20. Turnover was 5.97 billion shares valued at RM3.88bil. The broader market was mixed with 478 gainers, 460 losers and 468 counters unchanged.

All eyes were also on the political scene where opposition leader Datuk Seri Anwar Ibrahim met the King and gave him the number of MPs whom he claimed support him to be the next prime minister.

However, Anwar did not give the names to verify his claim, says Istana Negara.

Earlier, market sentiment was weighed down by the government's move to impose the conditional movement control order (MCO) in Kuala Lumpur and Selangor effective midnight due to the increase in the number of infections.

On the external front, Japan's Nikkei 225 rose 0.18%, Hong Kong's Hang Seng Index jumped 2.2%, Shanghai Composite 0.04%, and Singapore's Straits Times Index 0.65%. However, Taiwan's Taiex shed 0.07% and South Korea's Kospi dipped 0.02%.

US light crude oil rebounded 53 cents to US$39.96 and Brent up 51 cents to US$42.23.

Petronas Chemicals rose 15 sen to RM6.14 and added 2.43 points to the KLCI, Petronas Dagangan 50 sen to RM20 but Petronas Gas shed four sen to RM16.18. Dialog gained three sen to RM3.80.

Top Glove rose 12 sen to RM9.09 and added nearly two points while Hartalega ended eight sen higher at RM17.58. Rubberex jumped 92 sen to RM7.40, Comfort Gloves 53 sen to RM4.39, Careplus 30 sen to RM3.72 and Adventa 24 sen to RM2.60 while Supermax was up 22 sen to RM10.18.

Crude palm oil for third month delivery rose RM10 to RM3,004 per tonne. KL Kepong ended 24 sen higher to RM22.46, IOI Corp eight sen to RM4.48, PPB Group six sen to RM19.26 while Sime Plantation was flat at RM5.

Tenaga and Sime Darby shed two sen each to RM10.18 and RM2.41, Genting five sen to RM3.11 and GentingM three sen to RM2.03. MISC fell 14 sen to RM6.85 and erased 1.26 points.

As for banks, Public Bank rebounded 14 sen to RM15.96, Maybank and Hong Leong Bank were flat at RM7.35 and RM15 while RHB Bank shed six sen to RM4.43.

Among the telcos, Maxis advanced nine sen to RM5.12, Telekom two sen higher at RM4.19, Digi shed one sen to RM4.12 and Axiata lost three sen to RM2.93.

MESB rose 6.5 sen to 41.5 sen and the warrants five sen higher to 26 sen, but off the intra-day highs.

On Monday, MESB received a takeover offer from Lotus KFM's directors Wong Sak Kuan and Yau Ming Teck, after the two acquired a total of 29.49 million shares in MESB for RM8.85mil or 30 sen per share.

US gold rose 91 cents to US$1,923.68 per troy ounce.

The ringgit firmed up against the US dollar by 0.14% to 4.1425.






Related Stocks

ADVENTA 1.030
AXIATA 3.800
BURSA 8.500
COMFORT 2.760
DIALOG 3.100
DIGI 4.250
GENTING 4.880
HLBANK 18.020
IOICORP 4.070
LOTUS 0.260
MAXIS 4.700
MAYBANK 8.280
MESB 0.520
MISC 6.820
PBBANK 4.200
PETDAG 20.260
PETGAS 15.800
PPB 18.580
RHBBANK 5.300
RUBEREX 1.470
SIME 2.340
STRAITS 0.220
SUPERMX 5.310
TENAGA 10.080
TOPGLOV 5.570

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