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KUALA LUMPUR (June 30): The FBM KLCI closed 6.54 points or 0.44% higher at 1,500.97 today, partly helped by share price gains in rubber glove manufacturers, amid news of a resurgence in global Covid-19 cases. Analysts said the KLCI's gain was also underpinned by China’s stronger-than-expected official manufacturing Purchasing Managers' Index (PMI) reading. "We may see [choppy trading prevailing] amid the rising number of Covid-19 cases across the globe, although it is very much contained in Malaysia,” Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com. Globally, it was reported that Asian shares advanced today as positive economic data from China and the US helped to close out a strong quarter, though a renewed surge in global coronavirus cases underlined a challenging investment climate. It was reported that China's official manufacturing PMI came in at 50.9 in June, compared with May's 50.6, National Bu...

KUALA LUMPUR (June 29): After starting off negatively, the FBM KLCI rebounded in the final hour of trading to close in positive territory amid fresh interest in glove and healthcare counters. The benchmark index ended the day 6.29 points or 0.42% higher at 1,494.43, while the broader market was down with losers outnumbering gainers by 662 to 371. The local market’s weaker start was in line with the rest of the region as sentiment was affected by concerns over the worsening global Covid-19 situation. Maybank Investment Bank Bhd remisier Jeffry Azizi Jaafar said news of a possible second outbreak of Covid-19, however, also resulted in fresh buying interest in glove makers and healthcare players. “The death toll from Covid-19 reached half a million people on Sunday, while reported deaths around the world reached 500,000 fatalities with more than 10 million reported cases,” he told theedgemarkets.com. This, he said, led to renewed buying of counters lik...

KUALA LUMPUR (June 26): The FBM KLCI marched into its fourth consecutive trading day of losses, bucking the trend of its regional peers, amid falls in key index-linked stocks like Top Glove Corp Bhd and Hartalega Holdings Bhd. The benchmark index closed 1.06 points or 0.07% lower at 1,488.14, after moving between 1,483.05 and 1,495.57. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the weak market sentiment was partly due to the World Bank’s downgrading of Malaysia’s economic growth for this year to -3.1% from -0.1% estimated in April. He told  theedgemarkets.com that the short-selling ban, which is expected to be lifted on July 1, has also caused investors to take a more cautious approach as they expect the market to experience more volatility ahead. Today’s major losers were Top Glove (down 3.87% or 60 sen at RM14.9) and Hartalega (down 1.32% or 16 sen at RM11.94). Leong said the fall in rubber glove counters was due to rumours that...