KLCI closes at highest in nearly 3 months

Stocks in the Chinese mainland and Hong Kong fell on Thursday as the US said the latter no longer warranted its special status under US law.

However, the Malaysian market seemed impervious to the geopolitical turmoil and maintained its upward tajectory. Among index-linked stocks, Petronas Chemicals rose 14 sen to RM6.19, CIMB added nine sen to RM3.51 and Maxis put on eight sen to RM5.39.Small rivals in the rubber glove space were also on the move with Supermax jumping 73 sen to RM7.63, Rubberex surging 70 sen to RM3.06 and Comfort Gloves rising 37 sen to RM3.45.Meanwhile cosumer giant Nestle put on 60 sen to RM139.60.

Meanwhile, an increase in US crude stockpiles sent prices lower as traders worried over the recovery in demand.

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