KUALA LUMPUR (July 17): The FBM KLCI closed up 31.33 points or 2% while Bursa Malaysia Bhd's share price pared gains, after rising to a record high as trading across the bourse normalised today, following a rare halt at 3:30pm yesterday.

Today, Bursa's healthcare index, which tracks share prices of companies including rubber glove manufacturers, ended as the top percentage gainer after rising 268.42 points or 8.62% to 3,383.32.

"Bursa wishes to inform that trading has resumed as normal and Bursa trading system was stable throughout the day.

"Bursa’s benchmark KLCI closed at 1,596.33, higher by 31.33 points (+2.0%) from the previous day closing of 1,565.00 with a total of 9.50 billion shares worth RM5.85 billion traded," exchange operator and regulator Bursa said in a statement issued shortly after markets closed at 5pm today.

Across Bursa, glove manufacturers led gainers as their stock prices rebounded today following yesterday's decline.

Today's leading gainer Top Glove Corp Bhd closed up RM3.28 or 16.65% at RM22.98 after ending below RM20 yesterday when the company confirmed that the US Customs and Border Protection had placed a detention order on disposable gloves manufactured by two of its subsidiaries, namely Top Glove Sdn Bhd and TG Medical Sdn Bhd.

Today, Supermax Corp Bhd finished up RM2.80 or 18.79% at RM17.70 to become the second largest gainer across Bursa followed by Hartalega after its share price rose RM1.94 or 12.8% to RM17.10.

Top Glove and Hartalega are KLCI constituents. Top Glove and Hartalega were the top and second-largest percentage gainers respectively among the 30 constituents of the KLCI.

From a technical standpoint, Public Investment Bank Bhd technical analyst Lee Siao Ping said the KLCI formed a high wave candlestick pattern which indicates uncertainty in market direction following a rather volatile movement this week.

He, however, said the strong rebound in the healthcare index today is expected to "fuel optimism on the KLCI's recovery momentum ahead".

Hence, he expects the KLCI to crawl back to the 1,600-point level next week in anticipation of continued share buying momentum in the glove sector.  

Today, robust trading volume across the exchange had placed Bursa's share price in the spotlight.  

Bursa's share price closed up 55 sen or 6.4% at RM9.15 with 9.55 million units transacted. The stock pared gains after rising to its record high at RM9.16 earlier today on expectation that the group will announce on July 28 a record high quarterly core net profit for the second quarter ended June 30, 2020 (2QFY20) due to robust trade volume.

"We reckon that 2QFY20 results could be a quarterly record high at RM80m, bringing the 1HFY20 sum to RM145m (+55% YoY)," Hong Leong Investment Bank Bhd analyst Jeremy Goh wrote in a note today.

Globally, it was reported that Asian shares eked out gains and US stock futures bounced back on Friday as hopes of more government spending around the globe outweighed concerns about rising coronavirus infections and worsening tensions between Washington and Beijing.

"European shares were also expected to rise, with pan-European Euro Stoxx 50 futures, German DAX futures, Britain's FTSE futures all up 0.1-0.2%. US stock futures rose 0.2%," Reuters reported.