Bursa hits fresh record volume, KLCI down 0.44%

  • Markets
  • Tuesday, 11 Aug 2020

KUALA LUMPUR: Bursa Malaysia hits another record high of 27.8 billion shares in volume worth RM7.8bil on Tuesday.

Dealers said buying interest of lower liners and stong demand for glovemakers counters propel the trading volume to a fresh record high.

At closing, the FBM KLCI was down 6.92 points, or 0.44% to 1,564.74, its intra-day low. The index opened 8.51 points higher at 1,580.17 this morning.

Market breadth turned negative as losers overpowered the gainers on a ratio of 722-to-483 stocks.

Dealers noted that the FBM KLCI succumbed to profit taking activities despite opening higher at the start of the opening bell. The index lingered mostly in the negative territory in the afternoon session.

At Bursa Malaysia, Tomei Consolidated Bhd was the top loser, falling 46 sen to RM1.09. Nestle shed 40 sen to RM139.20 while F&N lost 38 sen to RM32.10.

Poh Kong Holdings fell 35.5 sen to 97.5 sen and Bahvest declined nine sen to 56.5 sen.

Reuters reported that spot gold was down 1.1% at US$2,004.61 per ounce by 0727 GMT after falling as much as 1.9% earlier, accelerating a retreat from a record high of US$2,072.50 hit last week.

Major stock advancers among the component stocks included Petronas Dagangan, which gained 32 sen to RM20.72, Public Bank added 12 sen to RM16.92, Top Glove rose 10 sen to RM27.30 and Telekom Malaysia climbed five sen to RM3.82.

Meanwhile, Asia benchmark finished mostly higher today.

South Korea’s Kospi index closed up 32.29 points, or 1.35%, at 2,418.67, its highest close since June 14, 2018.

Hong Kong’s Hang Seng index rose 2.1% to close at 24,890.68, while the China Enterprises Index gained 1.6%, to 10,153.40.

Japan's Nikkei 225 index closed up 1.88% to 22,750.24.

China stocks ended lower on Tuesday, dragged down by tech firms, as worries over rising Sino-U.S. tensions weighed on investor sentiment, Reuters reported.

The Shanghai Composite index closed down 1.15% at 3,340.29, while the blue-chip CSI300 index was down 0.91%.

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