Bursa, Asian markets rally as they ride on Wall St surge
Published on 25 Mar 2020. | Source: thestar.com.my
KUALA LUMPUR: Bursa Malaysia and key Asian markets extended their gains on Wednesday as investor sentiment was emboldened by the overnight surge on Wall Street.
At 9.07am, the FBM KLCI had jumped 36.10 points or 2.8% to 1,327.24. Turnover was 356.35 million shares valued at RM174.49mil. There were 512 gainers, 32 losers and 109 counters unchanged.
Reuters reported Asian shares extended their rally in the wake of Wall Street's big gains as US Congress appeared closer to passing a US$2 trillion stimulus package to curb the coronavirus pandemic's economic toll.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.3% with Australian shares rising 4.5% and South Korean shares gaining 4.0%. Japan's Nikkei added 2.0%.
At Bursa on Tuesday, local institutions were net buyers at RM217.8mil and retail investors at RM26.4mil but foreign funds extended their selling pressure. Net selling was RM244.2mil.
Carlsberg rallied RM1.66 to RM23.16, Nestle RM1.50 to RM136, Heineken RM1.34 to RM22 and BAT 63 sen to RM10.24.
Public Bank jumped 96 sen to RM16.20 and Hong Leong Bank added 60 sen to RM14.80.
MFCB 39 sen to RM4.06 and Hartalega 38 sen to RM6.98.
Hibiscus, Velesto, SAPURA ENERGY and KNM edged up in active trade.
AIRASIA added four sen to 67 sen.
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