KUALA LUMPUR: Public Bank and Petronas Chemicals weighed on the FBM KLCI early Friday after the weaker overnight close on Wall Street added caution to key Asian markets. However, glove makers were top gainers, led by Supermax and its call warrants
At 9.17am, the FBM KLCI was down 6.24 points or 0.39% to 1,577.01. Turnover was one billion shares valued at RM519.44mil. There were 243 gainers, 287 losers and 342 counters unchanged.
At Bursa on Thursday, foreign funds were net sellers at RM231.5mil and local retail investors at RM32.6mil but the selling was well absorbed by local institutions which were net buyers at RM264.1mil.
Public Bank gave up some of the recent gains, down 18 sen to RM18.32 while IOI Corp was down 13 sen to RM4.37 and PetChem 10 sen lower at RM6.34.
Among consumer stocks, Carlsberg fell 36 sen to RM25 and Heineken 24 sen to RM22.20.
Vitrox’s surge hit a speed bump, shedding 12 sen to RM10.10. Aeon Credit lost 17 sen to RM9.54.
Eduspec was the most active with 82.4 million shares done, unchanged at two sen. DGB was the second most active with 75 million units traded but the share price was flat at five sen.
Glove makers were the top gainers as Kossan gained 68 sen to RM12.36, Supermax 52 sen to RM12.96 and Top Glove 32 sen to RM21.50 as the Covid-19 pandemic continues, with the US seeing fresh new infections and deaths.
Supermax call warrants jumped, tracking the record high of the mother shares, Supermax-C85 jumped 56 sen to RM3.76, C78 33 sen to RM5.73, C86 23 sen to RM3.68, C87 22 sen to RM4.49 and C84 19 sen to RM2.89.
Kossan-C5 added 17 sen to RM1.45 and C4 15 sen to RM1.50.
Reuters reported oil prices dipped on Friday after steep falls in the previous session and were set for a weekly decline on worries renewed lockdowns following a surge in coronavirus cases in the United States and elsewhere will suppress fuel demand.
Brent crude was down by 7 cents, or 0.2%, at $42.28 a barrel by 0114 GMT after falling more than 2% on Thursday. U.S. oil fell 13 cents, or 0.3%, at $39.49 a barrel after a drop of 3% in the previous session.
Meanwhile, the United States reported at least 60,565 new Covid-19 cases on Thursday, a new record increase and the second day in a row infections have risen by at least 60,000, according to a Reuters tally.
For a third day in a row, US deaths climbed by more than 800, the highest levels seen since early June, according to the tally
Reuters reported the US has reported more than 3.1 million cases total and over 133,000 deaths from the virus, making some Americans hesitant to return to public spaces and patronize businesses despite President Donald Trump's efforts to downplay the risks.
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