Glove stocks weigh on KLCI, tech stocks climb

TheStar Thu, Jan 14, 2021 05:43pm - 3 years View Original


KUALA LUMPUR: Glove makers weighed on Bursa Malaysia on Thursday as investors took profit after the rebound and piled into semiconductor and tech-related counters.

At 5pm, the FBM KLCI was down 0.98 point or 0.06% to 1,635.71. Turnover was 6.49 billion shares valued at RM4.86bil. There were 584 gainers, 583 losers and 430 counters unchanged.

In a recent report, AmInvestment Research said while demand for gloves will likely remain stable post-Covid-19, the average selling prices (ASPs) of the product are expected to ease in the second half of 2021.

Hartalega fell 70 sen to RM12.30, Supermax 47 sen to RM6.64 and Top Glove 26 sen to RM6.37 and their declines weighed on the 30-stock KLCI.

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