Usdt第三方支付（www.trc20.vip）:Bursa Malaysia stages rebound on China reopening hopes
KUALA LUMPUR: The Malaysian stock market surged yesterday, closing at an intraday high amid a buoyant regional performance, driven by hopes that China will soon relax its strict Covid-19 restrictions, dealers say.
At 5pm, the benchmark FBM KLCI jumped 17.90 points, or 1.26%, to end at the intraday high of 1,438.28, compared to Thursday’s close of 1,420.38.
The market bellwether opened 5.14 points higher at 1,425.52 and reached the lowest level at 1,422.08.
On the broader market, gainers led decliners 588 to 269, while 391 counters were unchanged, 1,078 untraded, and 19 others suspended.,
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Turnover was slightly lower at 2.39 billion units valued at RM1.72bil versus 2.63 billion units worth RM1.89bil on Thursday.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the FBM KLCI staged a quick rebound yesterday with more than two-thirds of the key index components closing in the green.
“The positive move was largely in line with gains across regional markets that were driven by optimism that China may relax its strict Covid-19 measures,” he told Bernama.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng agrees, saying an imminent relaxation of China’s Covid-19 curbs is expected, which will lift economic activity in the world’s second-largest economy.
Meanwhile, heavyweight stocks Malayan Banking Bhd and Press Metal Aluminium Holdings Bhd added 4.0 sen each to RM8.45 and RM4.39, respectively, while IHH Healthcare Bhd gained 13 sen to RM6.04. Kuala Lumpur Kepong Bhd lost four sen to RM20.92.