KUALA LUMPUR: Glove makers were back in play on Friday as the record number of Covid-19 cases both in Malaysian and overseas saw investors piling into glove stocks. However, the broader market was very cautious still with over 1,000 counters in the red. At 5pm, the FBM KLCI rose 30.24 point or 1.89% to1,633.19 and it is up 0.37% since the start of 2021. Earlier on Monday, the KLCI skidded on regulated short selling by foreign funds especially glove stocks and Friday's trading action could be these funds undertaking short covering. Friday's turnover on Bursa was 10.03 billion shares valued at RM7.16bil. There were 1,040 losers to 353 gainers and 283 counters unchanged. The Star Online reported Senior Minister (Security) Datuk Seri Ismail Sabri Yaakob as saying the Prime Minister will announce the country's next measures to be taken to curb the steep rise in Covid-19 infections. On Thursday, Malaysia posted a record 3,027 new cases of cases, a new daily high for the second time in a row. More than 87.42 million people have been reported to be infected by the novel coronavirus globally and 1,888,982 have died, according to a Reuters tally. At Bursa on Friday, Hartalega rallied RM1.60 to RM12.50 and added 8.58 points to the KLCI. Top Glove was up 70 sen to RM6.50 with 147.64 million shares done and lifted the KLCI 8.98 points. Supermax rose RM1.25 to RM7.30. Careplus jumped 65 sen to RM2.95 and Comfort Gloves 54 sen to RM3.62. Chip makers were among the top gainers, with MPI up 96 sen to RM25.70 and KESM 68 sen to RM13.88. Vitrox fell 34 sen to RM13.76 and UWC 23 sen to RM9.20. US light crude oil rose 35 cents to US$51.18 and Brent 42 cents to US$54.80 as Saudia Arabia cut back on its output. Petronas Chemicals gained 51 sen to RM7.56 and powering the KLCU up 6.38 points. Petronas Dagangan fell 16 sen to RM21.14 and Petronas Gas 20 sen to RM16.90. Dialog was down six sen to RM3.29. As for refiners, Hengyuan fell 33 sen to RM5.24 and Petron 22 sen to RM4.67 Among the banks, Maybank rose 12 sen to RM8.40 and added 2.11 points, Hong Leong Bank 18 sen to RM18.18 but Public Bank fell six sen to RM20.34 and CIMB three sen to RM4.11. Crude palm oil for third month delivery fell RM12 to RM3,805 per tonne. However, PPB Group gained 18 sen to RM19.28, KL Kepong added eight sen to RM24, IOI Corp one sen to RM4.51 and Sime Plantation two sen to RM5.17. As for telcos, Telekom ended the day five sen higher at RM5.45, Axiata four sen to RM3.47, Difi 10 sen to RM4.26 but Maxis fell eight sen to RM5.20. Oriental Interest hit limit-up, suring 62 sen to RM2.70 after announcing its one-for-one bonus issue, right issue and free warrants. CN Asia, which had rallied in recent days, tumbled 71 sen to RM1.66 after announcing its corporate exercise. Genting Malaysia and Genting fell eight sen each to RM2.45 and RM4.12 on concerns of trave curbs would be enforced following the spike in infections. The stronger crude oil prices enable the ringgit to climb 0.17% to 4.0305 against the US dollar.
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