Construction counters drop as traders take profit

The cutback in public infrastructure spending, coupled with the sustained weakness in the property sector, will have a direct knock-on effect on the demand and hence prices for steel and cement.

PETALING JAYA: Construction counters took a dip even as prospects of the sector looked positive following the revival of the East Coast Rail Link (ECRL) project.

Traders took profit from the shares which have rallied since the past week leading up to the confirmation of the mega project’s comeback last Friday.