KLCI rises 0.45% in line with firmer regional markets, lifted by glove makers

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KUALA LUMPUR (July 2): The FBM KLCI rose 0.45% at the midday break Thursday in line with the firmer regional markets, lifted by blue chips including index-linked glove markets.

At 12.30pm, the FBM KLCI rose 6.77 points to 1,521.20.

Gainers led losers by 326 to 271, while 685 counters traded unchanged. Trading volume was 3.17 billion shares valued at RM2.12 billion.

The gainers included Nestle (M) Bhd, Dutch Lady Milk Industries Bhd, Carlsberg Brewery Malaysia Bhd, Top Glove Corp Bhd, United Malacca Bhd, Kossan Rubber Industries Bhd, Hartalega Holdings Bhd, Petronas Chemicals Group Bhd and PPB Group Bhd.

The actives included AT Systematization Bhd, Vsolar Group Bhd, My EG Services Bhd, Hubline Bhd, Prestariang Bhd, Iris Corp Bhd and Lambo Group Bhd.

The decliners included Ajinomoto (M) Bhd, Hong Leong Industries Bhd, Axiata Group Bhd, British American Tobacco (M) Bhd, Hengyuan Refining Company Bhd, IHH Healthcare Bhd and Telekom Malaysia Bhd.

Reuters said Asian stocks tracked Wall Street higher on Thursday although sentiment was cautious ahead of US employment data while copper prices jumped to more than six-month highs on a better global outlook and supply fears in top producer Chile.

MSCI's broadest index of Asia Pacific shares outside of Japan rose 0.9% with all major indexes trading higher on hopes of a vaccine for Covid-19, which has killed more than half a million people globally and shut down the world economy, it said.

JF Apex Securities Research said US markets ended mixed with the Dow falling while the Nasdaq climbed to a record high amid positive payroll and manufacturing data as well as concerns of rising coronavirus cases.

It said European stocks declined amid fears of a second wave of coronavirus.

“On the local market, the FBM KLCI rose 13.46 points to 1,514.43 points.

“Following the mixed performances in the US and Europe, the FBM KLCI could hover below the resistance of 1,550 points,” it said.