Bursa Malaysia jumps 2.6pc at lunch break

At 12.30pm, the benchmark index climbed 40.76 points to 1,603.47 compared with yesterday's close of 1,562.71. — Picture by Azneal Ishak
At 12.30pm, the benchmark index climbed 40.76 points to 1,603.47 compared with yesterday's close of 1,562.71. — Picture by Azneal Ishak

KUALA LUMPUR, Dec 1 — The FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 2.6 per cent at mid-day amid continued appetite for selected blue-chips and lower liners, on the back of upbeat China economic data and potential Covid-19 vaccines that raised hope for a faster economic recovery.

At 12.30pm, the benchmark index climbed 40.76 points to 1,603.47 compared with yesterday's close of 1,562.71.

The index opened 17.46 points stronger at 1,580.17.

On the broader market, gainers outpaced losers 664 to 395 while 462 counters were unchanged, 587 untraded and 16 others suspended.

Volume stood at 5.17 billion units worth RM2.64 billion.

An analyst said the domestic shares’ performance was in sync with regional markets, boosted by latest data showing that China's manufacturing activity continued to expand at a faster pace in November.

China's manufacturing Purchasing Managers' Index (PMI) jumped to 52.1 in November from 51.4 a month earlier due to more domestic new orders and an increase in raw material prices.

The manufacturing sector in Australia also continued to expand at a faster rate during the month with a manufacturing PMI score of 55.8

Locally, IHS Markit reported Malaysia's PMI recorded a fourth successive monthly contraction at 48.4 in November.

On Wall Street, stocks closed lower yesterday with the Dow declining 0.9 per cent to 29,638.64, S&P dropped 0.5 per cent to 3,621.63 and the Nasdaq went down 0.06 per cent to 12,198.74.

At press time, Singapore's Straits Times Index added 0.49 per cent to 2,819.67, Hang Seng Index was 0.93 per cent better at 26,586.21 and Nikkei rose 1.42 per cent to 26,808.80.

Among the heavyweights, Petronas Chemicals jumped 59 sen to RM7.01, Tenaga Nasional leaped 76 sen to RM10.84 and Maybank climbed 32 sen to RM8.22.

Public Bank gained 54 sen to RM17.94 and Hong Leong Bank added 82 sen to RM18.00.

In contrast, Petronas Gas fell 66 sen to RM17.50 and Top Glove dropped nine sen to RM7.09.

Among the actives, AT Systematization added one sen to 21 sen, while Pegasus and Netx rose half-a-sen each to 3.5 sen and 15 sen, respectively.

On the index board, the FBM Emas Index increased 229.69 points to 11,564.56, the FBMT 100 Index inched up 230.95 points to 11,331.69 and the FBM Emas Shariah Index expanded 217.57 points to 13,364.94.

The FBM 70 went up 80.53 points to 14,909.45 and the FBM ACE rose 7.00 points to 10,708.61.

Meanwhile, the Industrial Products and Services Index advanced 5.49 points to 166.15, the Plantation Index was 97.03 points higher at 7,313.76 and the Financial Services Index leaped 426.78 points to 14,230.99. — Bernama

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