Asian Equity Markets Advanced on China’s Reopening

Kuala Lumpur, January 5 – Moving in tandem with the performance of regional peers and Wall Street overnight, Bursa Malaysia ended the losing streak of past two days and closed in positive note on Thursday with the bell-weathered index, FBM KLCI advanced 11.38 points or +0.77% at 1,480.93.

Asian bourses ended higher following Wall Street rally after market participants having assessed the Federal Reserve’s minutes of the meeting. To add to the positive momentum was investors bank on hopes for China’s economy to pick up a faster from the COVID-19 pandemic.

Whilst China’s Caixin Purchasing Managers Index (PMI index) for service posted a decline at a slower pace, in fact it marked an improvement from November. The business confidence surveyed by Caixin/S&P was high amongst the companies, hopeful for a recovery of economy this year.

Driven by gains in consumer and financial stocks, Singapore’s STI leading the gains today as the index jumped 1.34% to 3,286.03, marked its best intraday session since Nov. 11.

Meanwhile, Hong Kong’s HSI index also advanced 1.25% to 21,052.17. HSI has gained 2,000 points in a span of one-month period. After 6 months, the index is back to 21,000 point level again.

** The FTSE BM KLCI opened at 1,472.46. The index fluctuated between 1,471.91– 1,480.92.

** 479 counters are gainers, 404 counters are unchanged, while 418 counters are decliners.

** Total volume of 3.308 billion shares changed hands; while Turnover of RM 1.958 billion

** The Top 5 Gainers: HEXTECH (22.68, +2.38); NESTLE (139.50, +1.50); MPI (30.30, +1.10); F&N (22.06, +0.48); KLK (22.00, +0.40)

** The Top 5 Losers: HSI-HE7 (0.365, -0.28); HEIM (24.76, -0.28); REVENUE (0.485, -0.19); CARLSBG (22.84, -0.14); TENCENT-H8 (0.015, -0.135)

** The Top 5 Active: HONGSENG-WB (0.03, 0.000); GPACKET (0.065, 0.000); CITAGLB (0.355, +0.03); TOPGLOV (0.91, +0.05); REVENUE (0.485, -0.19)

Singapore’s Straits Times Index (STI) jumped 43.57 points or +1.34% to 3,286.03; Hong Kong’s HSI advanced 259.06 points or +1.25% at 21,052.17; Japan’s Nikkei 225 Index gained 103.94 points or +0.40% at 25,820.80; Shanghai’s SSE Composite Index climbed 31.70 points or +1.01% at 3,155.22; Korea’s Kospi Index up 8.67 points or +0.38% at 2,264.65; Australia’s S&P/ASX 200 Index added 4.40 points or +0.06% at 7,063.60.

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