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KLCI slips as glove makers drop, regional markets make guarded gains

KUALA LUMPUR (Feb 22): The main index at Bursa Malaysia slipped at the midday break as index-linked glove makers dragged, against the backdrop of guarded gains at regional markets. At 12.30pm, the FBM KLCI fell 4.14 points to 1,580.79. The index had earlier climbed to a high of 1,587.51. Gainers led losers by 453 to 380, while 726 counters traded unchanged. Trading volume was 8.12 billion shares valued at RM3.08 billion. The top losers included Hartalega Holdings Bhd, Supermax Corp Bhd, Top Glove Corp Bhd, ViTrox Corp Bhd, Tasco Bhd, Mi Technovation Bhd, Nestle (M) Bhd, Malaysian Pacific Industries Bhd, Amtel Holdings Bhd, Press Metal Aluminium Holdings Bhd and Khind Bhd.

Petronas Gas to build RM541 mil pipeline for power plant in Pulau Indah

KUALA LUMPUR (Feb 22): Petronas Gas Bhd (PGB) has approved a final investment decision for the construction of a new lateral gas pipeline costing RM541.07 million. In a filing with Bursa Malaysia today, the gas infrastructure and utility company said the pipeline is approximately 42 kilometres and will utilise gas tapped from the existing Peninsular Gas Utilisation (PGU) II pipeline network. It said the natural gas will be transported to a prospective 1,200 megawatt gas-fired, combined-cycle gas turbine power plant in Pulau Indah, Selangor, which requires a supply of approximately 137 million standard cubic feet, and to the related industrial areas along the route.

Duopharma, Yi-Lai, Hibiscus Petroleum, Panasonic, PetGas, KPower, Karex, Innature, EITA Resources, Tiong Nam Logistics, CSC Steel, Hextar Global, United Plantations, AirAsia, Kejuruteraan Asastera, Samaiden and Solarvest

Duopharma, Yi-Lai, Hibiscus Petroleum, Panasonic, PetGas, KPower, Karex, Innature, EITA Resources, Tiong Nam Logistics, CSC Steel, Hextar Global, United Plantations, AirAsia, Kejuruteraan Asastera, Samaiden and Solarvest
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KLCI rises as select blue chips lift, regional markets stay lacklustre

At 9.05am, the FBM KLCI was up 4.24 points to 1,580.08. The early gainers included Nestle (Malaysia) Bhd, Greatec Technology Bhd, Kuala Lumpur Kepong Bhd (KLK), MR DIY Group (M) Bhd, Petronas Dagangan Bhd (PetDag), Toyo Ventures Holdings Bhd, Telekom Malaysia Bhd (TM), Press Metal Aluminium Holdings Bhd and Petronas Gas Bhd (PetGas). Bloomberg said Asian stocks opened with declines as investors assess how rising borrowing costs could impact the equity rally. Treasuries retained losses, it said. JF Apex Research said US markets declined overnight as the rally to record highs fizzled following concerns over rising interest rates and inflation as well as worse-than-expected jobless claims data.

KLCI ticks up as regional markets trade firmer

At 9.05am, the FBM KLCI was up 0.61 points to 1,579.24. The early gainers included Nestle (M) Bhd, Malaysian Pacific Industries Bhd, Genetec Technology Bhd, Techbond Group Bhd, Petronas Gas Bhd and UWC Bhd. Bloomberg said U.S. equity futures began the week on the front foot after climbing to a record last week, as investors monitored comments from Janet Yellen pushing a stimulus bill as well as an improvement in coronavirus trends. The dollar steadied after Friday’s slide, it said. Rakuten Trade said worse than expected job data has prompted fresh hopes of more stimulus package as Wall Street closed at new highs last Friday.

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