Bursa bucks Asian markets weighed by fresh Covid-19 cases

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KUALA LUMPUR: Bursa Malaysia closed higher on Monday, underpinned by gains in plantation and new entrants to the FBM KLCI – Telekom Malaysia and KLCCP – but Asian markets were impacted by worries about fresh Covid-19 pensions.

At 5pm, the KLCI was up 3.98 points or 0.26% to 1,511.24. Turnover was 6.33 billion shares valued at RM3.11bil. The broader market was more cautious as decliners beat advancers 549 to 434 and 386 counters were unchanged.

Brent crude rose 10 cents, or 0.2%, to $42.29 a barrel by 0826 GMT, while US crude for August delivery was at $39.87 a barrel, up 4 cents, or 0.1%, according to Reuters. Reuters reported equities and currencies across Asia's emerging markets struggled for traction as worries about a second wave of coronavirus infections kept investors on the sidelines, while impending dividend cuts drove a selloff in Thai banking stocks.

The Shanghai Composite index was down 0.08% at 2,965.27, while the blue-chip CSI300 index was up 0.08%. The start-up board ChiNext Composite index climbed 1.01%, its highest since Jan 7,2016, Reuters reported.

 

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