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Bursa Malaysia ends above 1,600 level on craze for glove stocks | Malay Mail

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KUALA LUMPUR, July 28 — Bursa Malaysia closed at its intra-day high today, as appetite for glove counters intensified amid the resurgence of new Covid-19 cases globally. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 18.46 points, or 1.16 per cent, to 1,609.94 from 1,591.48 at...

At 5pm, the benchmark FTSE Bursa Malaysia KLCI jumped 18.46 points, or 1.16 per cent, to 1,609.94 from 1,591.48 at yesterday’s close. — Bernama pic

The key index opened 3.16 points higher at 1,594.64 and hovered between 1,593.24 and 1,609.94 throughout the day. A dealer said demand in glove counters surged after the World Health Organisation director-general Tedros Adhanom Ghebreyesus reportedly said yesterday that Covid-19 cases had doubled over the past six weeks, with nearly 16 million cases having been reported to the United Nations health agency along with more than 640,000 deaths worldwide.

After breaching the 1,600 resistance level today, Lau believed the bellwether would continue its uptrend for the rest of the week. IHH bagged 28 sen to RM5.65, Petronas Dagangan improved RM1.24 to RM21.54 and Hap Seng was 30 sen higher at RM8.95. On the index board, the FBM Emas Index lifted 143.49 points to 11,466.50, the FBMT 100 Index grew 143.39 points to 11,302.76 and the FBM Emas Shariah Index was 223.33 points firmer at 13,448.19.Sector-wise, the Plantation Index strengthened 22.25 points to 7,184.36, the Industrial Products and Services Index edged up 1.35 points to 141.47 while the Financial Services Index advanced 10.38 points to 13,368.46.

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