KLCI up 15.63 points as Public Bank tops Bursa gainers

KUALA LUMPUR (Dec 9): The FBM KLCI settled up 15.63 points or 0.96% at 1,647.33 during Bursa Malaysia’s midday break today, partly helped by top gainer Public Bank Bhd’s share price rise and as global equities rose on encouraging Covid-19 vaccine news.

Across Bursa at 12:30pm, 7.29 billion securities were traded for RM3.5 billion.

KLCI stock Public Bank’s share price settled up RM1.48 or 8.02% at RM19.94 after the group announced yesterday its proposed bonus share issue on the basis of four bonus securities for one existing unit held.

Today, other KLCI constituents which contributed to the KLCI’s rise included Hong Leong Financial Group Bhd and Hong Leong Bank Bhd.

Globally, it was reported that Asian shares rose to a record high and US stock futures gained on Wednesday as investors tracked positive news on Covid-19 vaccines and ongoing efforts to launch more fiscal stimulus.

"MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.51%. At one point, the index reached 646.10, an all-time peak. MSCI’s gauge of stocks across the globe also hit a record high,”Reutersreported.

Meanwhile, Bernama reported that on Bursa Malaysia, Public Bank contributed 11.19 points to the 30-stock KLCI's rise as world markets took cue from rising US stock futures.

"Rakuten Trade Sdn Bhd said the regional markets are set to move higher today as the US futures continued to gain further ground on optimism of global recovery," Bernama reported.