Thursday, July 18, 2024

KLCI rebounds 11.87 points on bargain hunting

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KUALA LUMPUR: The FBM KLCI rebounded today supported by bargain hunting activities after yesterday’s sell-off.

At 5pm, the 30-stock index rose 11.87 points, or 0.79% to settle at 1,520.58 points, with gains led by glove and plantation counters.

The FBM KLCI 0.83% shed for the week. Year-to-date, the index has fallen some 6.55%.

Gainers trounced losers by 658 to 326, while 444 counters closed unchanged. Turnover stood at 3.98 billion securities worth RM2.86bil.

Dealers said the momentum might not sustain on the back of the recent political developments as well as rising Covid-19 cases in the country.

Kumpulan H & L High-Tech, the top gainer on Bursa Malaysia, hit limit up, rising RM1.30, or 29.95% to RM5.64.

MPI added RM1.20 to RM41, Widetec gained RM1.18 to RM5.38, Transocean rose RM1 to RM5.05 and Teo Guan Lee advanced 66 sen to RM2.86.

Carlsberg fell 44 sen to RM21.06, Y&G lost 41 sen to RM1.24, Heineken shed 34 sen to RM22.16 and Asdion gave up 30 sen to 41.5 sen.

Among the KLCI constituents, Kuala Lumpur Kepong rose 34 sen to RM19.82, Telekom Malaysia added 15 sen to RM5.98, Digi climbed 11 sen to RM4.24 and PPB added eight sen to RM18.34

Hartalega gained 13 sen to RM7.11 and Top Glove rose 10 sen to RM3.82.

Serba Dinamik, the most active counter, added 1.5 sen to 45.5 sen.

Meanwhile, Asia benchmark finished mostly lower today. Nikkei fell 0.63% to 27,940.42, CSI300 index fell 0.4% to 5,069.44, Hang Seng added 0.7% to 27,344.54 and Kospi shed 1.07% to 3,217.95.

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