KUALA LUMPUR: Supermax closed at a fresh high on Friday as investors chased up the stock while the FBM KLCI was boosted by Top Glove and Hartalega due to the continued increase in Covid-19 infections globally.At 5pm, the KLCI was up 8.59 points or 0.54% to 1,591.84. Turnover was 8.69 billion shares valued at RM5.03bil. Decliners beat advancers nearly three to two or 657 losers to 425 gainers and 404 counters unchanged.More than 12.3 million people have been reported to be infected by the novel coronavirus globally and 553,813? have died, according to a Reuters tally. Infections have been reported in more than 210 countries and territories since the first cases were identified in China in December 2019.Supermax rallied RM1.18 to a fresh high of RM13.62 with 59.80 million shares done, giving it a market capitalisation of RM18.53bil.At the current price, it is trading at a hefty price-to-earnings (PE) of 168 times.Top Glove rose 74 sen to RM21.92 and pushed the KLCI up 3.11 points. Hartalega added 46 sen to RM17.06 and lifted the index by2.43 points. Kossan added 70 sen to RM12.38Among the banks, CIMB rose five sen to RM3.81, Hong Leong Bank two sen to RM14.52, Public Bank was flat at RM18.50 while Maybank shed one sen to RM7.90.Tenaga Nasional lost 12 sen to RM11.36 and erased 1.06 points but IHH added seven sen to RM5.34 and Sime Darby climbed three sen to RM2.15.Among the plantations, Sime Plantation rose seven sen to RM5.02, KL Kepong 22 sen to RM22.58 and PPB Group 18 sen higher at RM18 but IOI Corp was flat at RM4.50.Mesiniaga jumped 26 sen to RM1.33 after it bagged a RM10.6mil contract. Dufu was also up 26 sen to RM6.11.Petronas Dagangan gained 36 sen to RM20.82, Petronas Gas two sen higher at RM16.70 but Petronas Chemicals fell 14 sen to RM6.30. Dialog edged up one sen to RM3.88.Oil prices dropped on Friday and were headed for weekly declines as inventories rose and record-breaking new coronavirus cases in the United States stoked concern about the pace of economic recovery and fuel demand, according to Reuters.Brent crude was down by 95 cents, or 2.2%, at $41.40 a barrel by 0926 GMT, and U.S. oil fell $1.01, or 2.6%, at $38.61 a barrel.
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