KLCI ekes out slight gains, Hartalega leads

KUALA LUMPUR: Blue chips were marginally higher early Friday as investors monitored the outbreak of the coronavirus which has been declared a global emergency by the World Health Organisation and the death toll in China rose to 204.

At 9.12am, the FBM KLCI was up 1.96 points or 0.13% to 1,547.55. Turnover was 242.52 million shares valued at RM134.50mil. There were 160 gainers, 191 losers and 200 counters unchanged.

Reuters reported Asian share markets were praying for a reprieve at the end of a punishing week as investors snatched at hopes the coronavirus could be contained, even as headlines spoke of more cases and deaths.

Sentiment got a timely boost when Amazon’s sales blew past all expectations and sent its stock soaring 11% after hours, adding over US$100bil in market worth.

The wire reported MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.1%, but was still down 4.1% on the week so far. Its 2.3% dive on Thursday had been the sharpest one-day loss in six months.

Japan’s Nikkei added 0.9%, but again was off 2.7% for the week. E-Mini futures for the S&P 500 held steady having rebounded late Thursday to end up 0.5%.

At Bursa on Thursday, foreign funds were net sellers at RM104.2mil but local institutions and retail investors stepped up their buying at net RM66.2mil and RM38mil.

Glove maker Hartalega perked up slightly, advancing nine sen to RM6.04 while Supermax added four sen to RM1.86 in active trade following the global emergency declared by the WHO.

Among the consumer stocks, Heineken rose 30 sen to RM27.84 and BAT eight sen to RM12.08. Kotra climbed 14 sen to RM2.09.

Cement player Tasek jumped 24 sen to RM5.79 but Malayan Cement lost 10 sen to RM3.30.

Allianz was the top loser, down 40 sen to RM14.22 while Petronas Chemicals shed 10 sen to RM6.35.

Source: TheStar