Thursday 28 Mar 2024
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KUALA LUMPUR (July 17): The FBM KLCI was 1.09% higher at the midday break today as Top Glove Corp Bhd led glove makers after analysts shrugged off the US detention order on the group’s subsidiaries.

At 12.30pm, the KLCI had risen 17.19 points to 1,590.50.

Top Glove jumped 15.53% or RM3.06 to RM22.76.

Gainers led losers by 403 to 201, while 670 counters traded unchanged. Trading volume was 4.57 billion shares valued at RM3.14 billion.

The top gainers included Top Glove, Supermax Corp Bhd, Hartalega Holdings Bhd, Kossan Rubber Industries Bhd, Nestle (Malaysia) Bhd, Batu Kawan Bhd, PPB Group Bhd, Bursa Malaysia Bhd, Comfort Gloves Bhd and Pentamaster Corp Bhd.

The actively traded stocks included Pegasus Heights Bhd, XOX Bhd, Lambo Group Bhd, Anzo Holdings Bhd, Land & General Bhd, JCY International Bhd and PDZ Holdings Bhd.

The decliners included Carlsberg Brewery Malaysia Bhd, Dutch Lady Milk Industries Bhd, Duopharma Biotech Bhd, CSC Steel Holdings Bhd, QL Resources Bhd and Heineken Malaysia Bhd.

Reuters said Asian shares eked out gains and US stock futures bounced back today as hopes of more government spending around the globe suppressed concerns about rising new coronavirus case numbers and worsening tensions between Washington and Beijing.

MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.5%, paring a quarter of its 2% loss the previous day, while Japan's Nikkei was almost flat, it reported.

JF Apex Securities Research said US markets declined overnight following mixed economic data such as jobless claims and retail sales.

It said that earlier, European stocks dropped after the European Central Bank (ECB) kept interest rates and its stimulus programme unchanged.

“On the local market, the FBM KLCI’s closing was revised to 1,565.00 after trading on Bursa Malaysia was halted since 3.30pm yesterday due to technical glitches.

“Following negative performances in the US and Europe, coupled with a plunge in mainland Chinese stocks, the FBM KLCI could extend its losses towards the support at 1,550 points with investors’ attention on glove counters,” it said.

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