Kuala Lumpur, Nov 11 – Bursa Malaysia extended the winning streak and ended the Friday in bullish manner. The barometer index FBM KLCI soared 18.47 points or +1.27% at 1,468.21. This bell-weathered index was buoyed by the double-digit growth in third quarter GDP figures. The nation’s GDP grew by 14.2% y-o-y on the back of a firm recovery in the labour market, income condition amid normalising economic activity and domestic consumption.
All Asian bourses rallied following the Chinese state media reported that COVID measures for travel will be eased. Chinese authorities on Friday shortened quarantine times for residents and inbound travelers, and scrapped a penalty on airlines that bring in infected passengers. Meanwhile, to add to the upbeat mood is the release of U.S. inflation data in October raised investor hopes that inflation has peaked. Talks of smaller rate hikes emerged as Fed members said they supported smaller interest rate hikes to protect economic growth.
Hong Kong’s HSI which was badly battered this year, made a significant 7.74% upswing, the best performer amongst the peers. HSI was lifted by its technology heavyweights such as Tencent, Meituan, Alibaba, JD.com, Kuaishou – all gained more than 10% today. Correspondingly, Hang Seng Tech Index also surged 10% in the final hour of trade.
In mainland China, the Shanghai Composite Index gained 1.69%.
To recap, the overnight performance on Wall Street as it had biggest rally in two years after October’s reading of consumer price index, which inched up just 0.4% for the month and 7.7% compared to last year, marking a lowest annual increase since January.
** The FTSE BM KLCI opened at 1,467.19. The index fluctuated between 1,459.54 – 1,467.83.
** 667 counters are gainers, 401 counters are unchanged, while 275 counters are decliners.
** Total volume of 3.43 billion shares changed hands; while Turnover of RM 2.42 billion
** The Top 5 Gainers: MPI (26.18, +2.30); HEXTECH (16.50, +1.52); NESTLE (131.60, +1.40); FANG-2XL (5.03, +0.65); BLDPLNT (9.03, +0.64)
** The Top 5 Losers: SP500-H13 (1.71, -0.89); HSI-HKX (0.73, -0.67); HSI-HE8 (0.86, -0.47); HSI-HE9 (1.58, -0.45); HSI-HE3 (2.12, -0.43)
** The Top 5 Active : ASB (0.135, +0.005); TOPGLOV (0.96, +0.075); HSI-CLJ (0.49, +0.205); CAREPLS (0.515, +0.025); XOX (0.025, +0.005)
* Singapore’s Straits Times Index (STI) climbed 56.59 points or +1.78% to 3,229.77; Hong Kong’s HSI skyrocketed 1,244.62points or +7.74% at 17,325.66; Japan’s Nikkei 225 Index surged 817.47 points or +2.98% at 28,263.57; Shanghai’s SSE Composite Index jumped 51.16 points or +1.69% at 3,087.29; Korea’s Kospi Index advanced 80.93 points or +3.37% at 2,483.16; Australia’s S&P/ASX 200 Index rose 194.00 points or +2.79% at 7158.00.
