KUALA LUMPUR (July 13): The FBM KLCI finished up 14.59 points or 0.92% at 1,606.43 today, led mainly by rubber glove manufacturers Top Glove Corp Bhd and Hartalega Holdings Bhd's share price rise amid rising Covid-19 infections globally.
Malaysia Parliament newsflow also appeared to have influenced local share trade dynamics and as investors looked ahead to the corporate financial reporting season for the April-to-June quarter.
“Currently there are only two sectors that have been supporting the KLCI, namely the rubber glove and financial services sectors,” Malacca Securities Sdn Bhd head of research Loui Low told theedgemarkets.com today.
Across Bursa Malaysia, 9.55 billion shares were traded for RM5.7 billion.
The top three gainers were rubber glove manufacturers, led by Supermax Corp Bhd followed by KLCI-linked Top Glove and Hartalega.
All three stocks' prices rose to their record highs today before paring gains when market closed.
Supermax closed up RM2.36 or 17.33% at RM15.98 after rising to its record high of RM16.
Top Glove finished RM2.08 or 9.49% higher at RM24 after reaching its all-time high of RM24.50.
Hartalega ended up 84 sen or 4.92% at RM17.90 after climbing to its record high of RM18.10.
Among the 30 KLCI stocks, Top Glove was the top percentage gainer followed by Hartalega.
At Parliament, the second meeting of the third session of Malaysia's 14th Parliament starts today and is scheduled to end this Aug 27.
Among highlights at the Parliament today, news reports, quoting Prime Minister Tan Sri Muhyiddin Yassin, reported that the government will ensure that no Malaysians are left out, especially the bottom 40% income (B40) group in the implementation of the Prihatin Rakyat Economic Stimulus Package.
“We will ensure that all groups, especially in Sabah and Sarawak, will not be left out in receiving the government’s assistance to ease their burden in facing the Covid-19 pandemic,” he said when answering a question from Kota Semarahan MP Rubiah Wang during today's parliamentary session.
It was also reported that the motion to remove Tan Sri Mohamad Ariff Md Yusof as Parliament Speaker was passed after 111 MPs voted for the proposal versus 109, who voted against.
It was reported that Deputy Speaker Datuk Mohd Rashid Hasnon announced the motion had been passed, before adjourning the sitting until 2:30pm today.
Globally, it was reported that Asian shares climbed towards five-month peaks on Monday as investors wagered the US earnings season would see most companies beat forecasts given expectations had been lowered so far by coronavirus lockdowns.
"Ongoing grim US Covid-19 infection news continue to be summarily ignored in favour of ongoing optimism regarding the time-line for the discovery and rapid roll-out of an effective vaccine and/or more policy support for asset prices and the US economy," Reuters quoted Ray Attrill, head of FX strategy at NAB, as saying.