KLCI up 0.76% as regional markets surge, Top Glove, Public Bank lift

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KUALA LUMPUR (Dec 27): The FBM KLCI jumped 0.76% at the midday break today, tracking the surge at regional markets, lifted by gains including at Top Glove Corp Bhd and Public Bank Bhd.

At 12.30pm, the FBM KLCI rose 12.65 points to 1,685.25. The index had earlier risen to a high of 1,688.17.

Gainers led losers by 517 to 160, while 284 counters traded unchanged. Volume was 964.12 million shares valued at RM557.49 million.

The notable gainers were Malaysia Airports Holdings Bhd, Nestle (M) Bhd, Petronas Gas Bhd, Petronas Chemicals Group Bhd, Hong Leong Bank Bhd, AirAsia Group Bhd, Sime Darby Bhd, Top Glove and Public Bank.

The actives included Hibiscus Petroleum Bhd, Sapura Energy Bhd, Prestariang Bhd, My EG Services Bhd, Hubline Bhd, Sanichi Technology Bhd, Permaju Industries Bhd, KNM Group Bhd and Bumi Armada Bhd.

The decliners included Ajinomoto (M) Bhd, Amway (M) Holdings Bhd, New Hoong Fatt Holdings Bhd, Yinson Holdings Bhd and Malaysia-listed Hang Seng Index-linked put warrants.

Asian shares on Thursday rode a dramatic surge on Wall Street as markets, hammered by a recent drum roll of deepening political and economic gloom, cheered upbeat US data and the Trump administration's effort to shore up investor confidence, according to Reuters.

In a buying frenzy that was as spectacular as the recent rout, US stocks soared with the Dow Jones Industrial Average rocketing more than 1,000 points for the first time on Wednesday, it said.

Affin Hwang Capital Research said Asian markets were expected to surge strongly following strong surge in the US market.

"The FBM KLCI Index expected to open high and stocks across the board anticipated to trade higher too. Accumulate quality stocks on price weakness.

"Anticipate FBM KLCI Index to test the short-term resistance in the near future," it said.