KUALA LUMPUR (March 5): The FBM KLCI bucked the regional trend to close higher, boosted by the positive performance of banking stocks and a rebound in glove counters.
The index was back above the 1,600 mark, closing at 1,600.12 for a gain of 18.86 points or 1.19% from yesterday.
Rakuten Trade Research head of equity sales Vincent Lau said market sentiment was buoyed by buying interest in banking stocks.
Sentiment was also lifted by bargain hunting among rubber glove stocks after the selldown yesterday, Lau told theedgemarkets.com.
Also contributing to the market’s positive performance was renewed buying of oil and gas (O&G) stocks on the back of an increase in oil prices after Saudi Arabia and its OPEC+ allies extended their production cuts.
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KUALA LUMPUR (March 3): The FBM KLCI mirrored regional peers’ performance to close higher by 1.18% or 18.58 points, as bargain hunters made a comeback for rubber glove-linked stocks after their shares price slumped due to developments on the Covid-19 vaccines.
At 5pm, the benchmark index closed at 1,588.45 points after trading between 1,568.67 and 1,583.43. KLCI constituents Supermax Corp Bhd, Top Glove Corp Bhd and Hartalega were among blue-chips that powered the benchmark index today.
Supermax rose 55 sen or 13.38% to close at RM4.66, Hartalega added 44 sen or 4.68% at RM9.85, while Top Glove climbed 34 sen or 7.16% to RM5.09. They were among Bursa’s top gainers by value today.
Shares in Malaysian Pacific Industries Bhd (MPI) continued to climb to hit a record high on a positive business growth outlook. MPI, which was the top gainer today, jumped as much as RM2.56 or 6.23% to a record high of RM43.66.
KUALA LUMPUR (March 2): The FBM KLCI closed higher by 0.17% or 2.73 points as investors engaged in stock-picking amid sector rotational play, while the positive sentiment generated from Wall Street’s overnight surge has also spilt over to the local market.
At 5pm, the benchmark index closed at 1,569.87 points. Today, the index had only been trading in the positive territory throughout the trading session, ranging between 1,568.67 and 1,583.43.
Among the 30 FBM KLCI constituents, 18 stocks were higher, nine were lower while three traded flat. Gains were led by IHH Healthcare Bhd, which jumped 21 sen or 3.97% to RM5.50, followed by Dialog Group Bhd and MISC Bhd.