KLCI falls 1% as index-linked glove makers drag

TheEdge Tue, Sep 08, 2020 12:55pm - 3 years View Original


KUALA LUMPUR (Sept 8): The FBM KLCI fell 1% at the midday break Tuesday as a slump in the shares of index-linked glove makers dragged the bellwether, against the backdrop of firmer regional markets.

At 12.30pm, the FBM KLCI lost 15.32 points to 1,501.06.

Market breadth turned negative with 610 losers and 158 gainers, while 634 counters traded unchanged. Trading volume was 5.71 billion shares valued at RM2.44 billion.

The top losers included Nestle (M) Bhd, Kossan Rubber Industries Bhd, PPB Group Bhd, Duopharma Biotech Bhd, Carlsberg Brewery Malaysia Bhd, Apex Healthcare Bhd, Vstecs Bhd, Kuala Lumpur Kepong Bhd, Hartalega Holdings Bhd and Top Glove Corp Bhd.

The actively traded stocks included Pegasus Heights Bhd, Evergreen Fibreboard Bhd, Nova MSC Bhd, Fintec Global Bhd, XOX Bhd, NetX Holdings Bhd, Borneo Oil Bhd and Trive Property Group Bhd.

The gainers included Ipmuda Bhd, Kluang Rubber Company (Malaya) Bhd, Lii Hen Industries Bhd, Ayer Holdings Bhd, MBM Resources Bhd, Evergreen, Fraser & Neave Holdings Bhd and Jaycorp Bhd.

Reuters said Asian shares and US stock futures regained some footing on Tuesday following a small bounce in European markets as investors looked to whether high-flying US tech shares could recover from their recent rout.

Japan's Nikkei advanced 0.4% as revised data confirmed the nation had slumped into its worst postwar contraction, with business spending taking a bigger hit from the coronavirus than initially estimated, it said.

Hong Leong IB Research said ahead of the monetary policy committee meeting on Sept 10, the KLCI is expected to extend its consolidation mode with (supports at 1,480-1,508; resistances 1,542-1,568 levels) as volatility remains elevated amid the domestic political uncertainty (ahead of the Sept 26 Sabah state election), the resurgence of Covid-19 cases in global hotspots, heightened US-China geopolitical tension, wild swings in Wall Street’s amplified by worries of a Covid-19 resurgence in the fall and winter (although accelerated vaccine development timelines may cushion sharp correction), the stalemate in Congress over additional pandemic aid and political uncertainty ahead of the US presidential election on Nov 3.

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

AHEALTH 2.970
APEX 1.000
AYER 7.000
BORNOIL 0.005
CARLSBG 18.380
DPHARMA 1.200
EVERGRN 0.310
F&N 29.400
FINTEC 0.005
FINTEC-WC 0.000
HARTA 2.750
JAYCORP 0.750
JSB 0.995
KLK 22.300
KLUANG 4.630
KOSSAN 1.960
MBMR 4.640
NESTLE 118.000
NETX 0.130
NETX-WC 0.000
NOVA 0.545
NOVAMSC 0.105
PHB 0.005
PPB 15.600
TOPGLOV 0.800
TRIVE 0.060
VSTECS 2.450
XOX-WC 0.005

Comments

Login to comment.