Nestle, Public Bank, F&N at fresh record highs again

Public Bank recorded the highest net money inflow of RM22.89m last week.

KUALA LUMPUR: Nestle, Public Bank and Fraser & Neave Holdings are among the stocks which are at record highs again in late Monday afternoon trade.

At 3.38pm, the FBM KLCI is up 14.03 points or 0.76% to 1,867.95. Turnover is 2.13 billion shares valued at RM1.48bil.

However, the broader market is more cautious with decliners at 538 versus 291 advancers and 491 counters unchanged.

Nestle, which is part of the 30 stocks in the KLCI, is up RM1.40 to RM112.90 with 62,400 shares done. F&N added 26 sen to RM29.08 and Dutch Lady 20 sen to RM63.20.

Public Bank gained 66 sen to RM21.96, HLFG added 46 sen to RM18.74 and Hong Leong Bank rose 30 sen to RM18.50.

Foreign funds have been net buyers on Bursa Malaysia. In the week ended Jan 26, they were bought net RM872.7mil of local equities last week, an increase from th RM702.2mil net bought in the week before.

On the external front, Reuters reported South Korea's KOSPI stock index rose 0.91% at 2,598.19, an all-time closing high. 

However, it reported that Japan's Nikkei ended flat in choppy trade on Monday with gains in cyclicals such as memory chip makers offset by weakness in in shares sensitive to domestic demand.