Prognosis
Malaysian Stocks Shrug Off Lockdown Extension Amid Bargain Hunt
- Top Glove shares jump after its ADRs surged on Friday
- Malaysia’s KLCI benchmark rises for first time in four days
Vehicles travel along a near-empty road in Kuala Lumpur, June 1.
Photographer: Samsul Said/BloombergThis article is for subscribers only.
Malaysian stocks climbed for the first time in four days led by a rebound in glove makers and telecom firms as investors shrugged off the government’s move to extend a nationwide lockdown by two weeks.
Top Glove Corp. jumped as much as 7.8% after its American depositary receipt soared 69% on Friday. Mobile phone stocks DiGi.Com Bhd. and Maxis Bhd. each added more than 1%. The FTSE Bursa Malaysia KLCI Index gained 0.7% as some investors looked past the lockdown with the benchmark index trading near the lowest level in more than a year.