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Bursa best performer among key Asian markets

KUALA LUMPUR: Bursa Malaysia was the best performer among the key Asian markets on Tuesday on strong buying of Maybank, Public Bank and Hartalega.

At 5pm, the FBM KLCI was up 19.92 points or 1.32% to 1,531.28 and year-to-date, it is down 3.62%.

Turnover was 8.84 billion shares valued at RM5.45bil. The broader market was firmer as advancers led decliners 648 to 480 and 374 counters unchanged.

Hartalega’s positive outlook for gloves helped propel it up RM1.10 to RM14.10 – pushing the KLCI up 5.92 points.

Bloomberg quoted says demand for rubber gloves won’t be affected by vaccines for the coronavirus and will continue to outstrip supply in the next three to four years.

Its chairman Kuan Kam Hon told reporters demand for usage in developed countries have increased 30% while in developing countries, usage has more than doubled, he says.

Kossan added 60 sen to RM11.70 but Top Glove fell 15 sen to RM8.43 and erased 1.92 points.

Supermax fell the most, down 63 sen to RM8.37, Comfort Glove 31 sen to RM4.06, Rubberex 29 sen to RM5.34 while Adventa slid 14 sen to RM2.70.

Public Bank rallied 66 sen to RM16.70 and added four points to the KLCI while Maybank 22 sen higher at RM7.50 and lifted the index 3.87 points. CIMB gained eight sen to RM3.23 and Hong Leong Bank unchanged at RM14.80.

Crude palm oil for third month delivery rose RM22 to RM2,914 per tonne, the highest since late January. KL Kepong gained 46 sen to RM22.78, PPB Group 18 sen to RM18.70, Sime Plantation seven sen to RM5.12 and IOI Corp one sen to RM4.46.

As for telcos, Time dotCom climbed 40 sen to RM12.20, Telekom seven sen to RM4.28, Maxis six sen to RM5.13, Axiata three sen to RM3.10 and Digi two sen to RM4.17.

Among the consumer stocks, Nestle gained 70 sen to RM140.70, Heineken 50 sen to RM20.50 and Carlsberg 48 sen to RM12.20 but F&N fell 26 sen to RM32.24.

US light crude oil rose 30 cents tto US$37.56 and Brent 33 cents to US$39.94. Petronas Dagangan added 18 sen to RM20.58, Petronas Chemicals nine sen to RM5.69 bit Petronas Gas ost 14 sen to RM16.54. Dialog gained eight sen to RM3.76.

Tenaga fell 18 sen to RM11 and erased 1.61 points, Genting fell two sen to RM3.40 but GentingM edged up one sen to R M2.16.

The ringgit firmed up 0.33% against the US dollar to 4.1310.

Among the key Asian markets, only Japan’s Nikkei 225 fell, down 0.44%. Hong Kong’s Hang Seng Index rose 0.38% to, Shanghai Composite Index climbed 0.51%, Taiwan’s Taiex up 0.45%, South Korea’s Kospi gained 0.65% and Singapore’s Straits Times Index 0.16% higher.

Spot gold rose US$8.92 to US$1,965.78 per troy ounce.

Reference