KUALA LUMPUR (July 6): The FBM KLCI marked its sixth consecutive day of gains as it tracked regional markets, which climbed on sentiments of anticipated recovery to global growth, while strong buying interest seen among glove makers also boosted the benchmark index.
Across Asia, Japan's Nikkei 225 rose 1.83% and South Korea's Kospi soared 1.65%. In China, the Hong Kong Hang Seng Index jumped 3.81% while the Shanghai Stock Exchange Composite Index closed up 5.71%.
Reuters reported that Asian shares scaled four-month peaks on Monday as investors counted on a revival in Chinese activity to boost global economic growth, even as surging coronavirus cases delayed business re-openings across the United States.
In Malaysia, Rakuten Trade Sdn Bhd research vice president Vincent Lau told theedgemarkets.com that the regional markets’ rally was a major driver to the KLCI's performance today, as it closed 24.25 points or 1.56% higher at 1,576.90, compared with Friday’s (July 3) close of 1,552.65.
In addition, the continued strong buying interest in glove makers led the benchmark index to settle higher, he said.
The healthcare index, which includes rubber glove manufacturers, closed 5.6% or 131.06 points higher at 2,716.20 points, making it the largest percentage gainer among Bursa Malaysia indices.
The top gainers list on Bursa today was also led by glove makers: Top Glove Corp Bhd (up 8.13% or RM1.50 to close at RM19.96; with a market capitalisation of RM53.77 billion), Hartalega Holdings Bhd (up 3.13% to RM16.50; RM55.9 billion), Kossan Rubber Industries Bhd (up 11.25% to RM10.38; RM13.28 billion) and Supermax Corp Bhd (up 10.10% to RM10.36; RM13.38 billion).
All four counters ended the day at their record highs, with each counter recording tens of millions of shares traded.
The wider market breadth was also positive, with 648 gainers versus 358 decliners, while 478 counters traded unchanged.
There were some 8.73 billion shares worth RM5.07 billion traded today, compared with 6.72 billion shares worth RM3.81 billion that was recorded last Friday.