KLCI struggles as glove makers weigh

TheStar Tue, Sep 08, 2020 01:28pm - 3 years View Original


The recent bouts of selling could cause some jitters among the smaller investors on the direction of the glove makers despite the strong earnings potential.

KUALA LUMPUR: Market sentiment on Bursa Malaysia was bearish in the morning session on Tuesday as investors grew concerned about the direction of the stock market as glove makers -- the leaders in the run-up in recent months -- lost ground.

At 12.30pm, the FBM KLCI was down 15.23 points or 1% to 1,501.15 after briefly falling below the key 1,500 in late morning mainly due to losses in Hartalega and Top Glove.

Trading volume was 5.71 billion shares valued at RM2.44bil. The broader market was weaker as decliners beat advancers 867 to 195 and 340 counters were unchanged.

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