KUALA LUMPUR: The stock market took a breather early Friday as profit taking was seen in glove makers after their dizzying rally which saw their share prices surge multi-fold.
At 9.10am, the FBM KLCI was down 1.54 points to 1,587.03. Turnover was 2.09 billion shares valued at RM734.69mil. There were 401 gainers, 194 losers and 330 counters unchanged.
The rally on Bursa has been driven by local retail investors, mainly focusing on glove makers and now tech related counters and now interest is seen in jewellers as gold hit fresh record highs.
Reuters reported gold scaled a new all-time peak on Friday and was set for its ninth straight weekly gain, as demand was boosted by a softer dollar, falling U.S. Treasury yields and worries over the global economic fallout from rising Covid-19 cases.
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