Glove makers main drag on Bursa


  • Markets
  • Monday, 17 Aug 2020

KUALA LUMPUR: Bursa Malaysia started Monday on a negative note as investors took profit on glove makers especially Top Glove and Hartalega and sent the FBM KLCI into the red.

At 9.15am, the FBM KLCI was down 4.56 points or 0.29% to 1,560.03. Turnover was 884.10 million shares valued at RM423.37mil. There were 273 gainers, 285 losers and 312 counters unchanged.

Asian shares dozed near recent highs in quiet trade as investors waited to see if the recent sell-off in longer-dated US Treasuries would extend, and maybe take some pressure off the beleaguered dollar, Reuters reported.

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.02% lower at 562, but still eyeing the January top of 574.52.

Japan's Nikkei dipped 0.4% after touching a six-month peak on Friday, as the country suffered its biggest economic contraction on record in the second quarter.

At Bursa last week, MIDF Research said for the first time since mid-February foreign inflow outstripped outflow by RM274.4mil net last week as compared to -RM776.1m, weekly average, since early this year.

This marks the first net inflow after 25th consecutive week of foreign net selling. So far in 2020, foreign investors have sold -RM19.7bil net on Bursa.

Top Glove fell 68 sen to RM23.14, Hartalega 52 sen to RM15.50, Supermax 50 sen to RM17.42, Kossan 32 sen to RM14.08 while Rubberex was down 27 sen to RM4.33.

Vitrox lost 20 sen to RM11.50 but MPI gained eight sen to RM14.98

Nestle jumped RM4.20 to RM143.70 with just 200 shares done, Carlsberg added 12 sen tp RM23.32 and Heineken 10 sen to RM22.26.

Thong Guan jumped 22 sen to RM4.7 while RHB Bank was up eight sen to RM5.02.

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foreign funds , net buyers , Bursa

   

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