KLCI extends rebound on planned vaccine rollout

TheStar Fri, Feb 05, 2021 09:30am - 3 months ago

KUALA LUMPUR: Bursa Malaysia extended its rebound on Friday after yet another positive session on Wall Street, and as more details of Malaysia's vaccination programme are revealed.

The Prime Minister yesterday announced that vaccination in the country will begin by the end of the month with the first phase involving 500,000 frontliners.

"The announcement coupled with the positive performance on Wall Street overnight may lift the overall market sentiment on the local front.

"Meanwhile, the local liners will continue to enjoy their upward momentum as liquidity remains well on the equities market," said Malacca Securities Research.

At 9.15am, the FBM KLCI was up 3.88 points to 1,588.78 with gains in most counters. Over the broader market, there were 344 gainers to 159 decliners.

Leading gainers included Tenaga Nasional up 10 sen to RM9.80 and Petronas Chemicals gaining nine sen to RM7.30.

Meanwhile, glove makers fell with Top Glove down three sen to RM6.68 and Hartalega slipping 16 sen to RM13.20.

Counters were also lifted by the rise in crude oil prices. Brent crude was seen adding 0.65% to US$59.22 a barrel, a new high point for the year so far.

The Bursa Malaysia Energy Index rose 0.9% to 839.38. Among rising counters, Hibiscus Petroleum added two sen to 60 sen, Bumi Armada gained 0.5 sen to 35 sen and Hengyuan Refining added three sen to RM5.57.

Top actives of the day were Istone up to sen to 25.5 sen, MTouche rising one sen to six sen and QES adding 0.5 sen to 52 sen.

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