KUALA LUMPUR: Glove makers underpinned the FBM KLCI’s advance on Thursday as the Covid-19 cases continued to surge amid a positive market sentiment.
Malaysia’s Covid-19 cases continued to climb, as the country reported a record 13,215 infections on Thursday. It’s also the third straight day where new cases are in the five digits.
At 5pm, the FBM KLCI ended up 8.5 points, or 0.56% to 1,520.82.
Market breadth turned positive as gainers overpowered the losers on a ratio of 612-to-348 stocks. Turnover stood at 5.08 billion shares valued at RM3.49bil.
Dealers said bargain hunting activities emerged on the local bourse after the selloff in the previous session. A dealer noted that market participants focused on healthcare-related and recovery theme stocks.
Bursa Malaysia’s healthcare index gained the most in terms of percentage among the indices today. The index rose 128.49 points, or 4.62% to 2,908.42.
Supermax added 21 sen to RM3.50, Kossan rose 21 sen to RM3.28 and Comfort climbed 17 sen to RM1.99.
Among the decliners, MPI tumbled 94 sen to RM42.38, Kumpulan H & L High-Tech fell 45 sen to RM4.24, Widetec lost 37 sen to RM3.93 and Petronas Dagangan shed 36 sen to RM18.68.
Meanwhile, oil prices fell more than 1% on Thursday as US fuel stocks rose, raising concerns about demand in the world’s largest consumer.
Brent crude fell US$1.14, or 1.14%, to US$73.62 a barrel while US West Texas Intermediate crude was last traded at US$71.82 a barrel, down US$1.31, or 1.79%.
On the external front, MSCI’s Asia ex-Japan stock index was firmer by 0.78%.
Japan’s Nikkei 225 dropped 1.2% to close at 28,279.09 while South Korea’s Kospi ended 21.41 points, or 0.66% higher at 3,286.22.
Hong Kong’s Hang Seng index was up 208.81 points or 0.75% at 27,996.27.
China’s Shanghai Composite index was up 1.02% at 3,564.59 and the blue-chip CSI300 index was up 1.35%.