KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
KUALA LUMPUR (May 21): The FBM KLCI closed up 16.99 points or 1.18% today at 1,452.11, helped by share price gains in index-link rubber glove manufacturers on resurgent concerns about the Covid-19 pandemic, amid doubts about the development of a vaccine.
Among rubber glove manufacturers, Hartalega Holdings Bhd’s share price rose past RM10 for the first time today, as doubts about the development of a Covid-19 vaccine led to buying of healthcare-related shares on Bursa Malaysia.
“The glove companies have just gone exceedingly high and it is really beyond fundamentals. Unless the results are good, the push now [in share prices] is unsustainable,” Inter-Pacific Securities Sdn Bhd head of research Victor Wan told theedgemarkets.com.
Across Bursa, the exchange saw 7.15 billion shares, worth RM4.66 billion traded. Top gainers included KLCI stocks Petronas Gas Bhd, Top Glove Corp Bhd and Hartalega.
Top Glove and Hartalega are also constituents of Bursa’s healthcare index, which closed up 6.37% to become the top percentage gainer among Bursa indices.
Across Bursa, leading gainer Petronas Gas' share price closed up RM1.94 or 12.78% at RM17.12. Hartalega rose 58 sen or 6.16% to RM10, after the stock rose to its intraday high at RM10.16.
Petronas Gas' share price rose today after the company declared yesterday, a first interim single-tier dividend of 16 sen a share. The group also reported that its net profit dropped to RM368.12 million for the first quarter ended March 31, 2020 (1QFY20) from RM515.46 million a year earlier.
Today, the most active stock across Bursa was Velesto Energy Bhd, which registered a volume of some 277 million shares. The stock’s price closed down 0.5 sen or 2.94% at 16.5 sen.
Source: The Edge
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