KLCI falls 0.25%, Top Glove leads decline

  • Markets
  • Monday, 17 Aug 2020

KUALA LUMPUR: The FBM KLCI ended in the negative territory on Monday, weighed down by selling in glovemakers and selected blue-chip stocks.

At 5pm, the 30-stock index stood at 1,560.74, down 3.85 points, or 0.25%. The benchmark index opened 2.65 points lower at 1,561.94 this morning.

Losers outnumbered the gainers on a ratio of 595-to-502 stocks. Traded volume stood at 8.79 billion shares worth RM4.94bil.

Dealers said investors took money off the table after the strong performance in glove counters on the risk of a windfall tax. In addition, they said trading on Bursa Malaysia were focused on second liner stocks and some technology counters.

Top Glove was the biggest drag on the FBM KLCI. The glovemaker fell RM1.40 to RM22.42, dragging the index down by 5.8601. Hartalega shed 46 sen to RM15.56, pushing the index down by 2.4376.

Supermax fell RM1.22 to RM16.70 while Kossan declined 72 sen to RM13.68

Nestle was the top gainer on Bursa Malaysia. The counter rose RM3.50 to RM143. F&N added 80 sen to RM32.80, Petronas Dagangan gained 50 sen to RM21.50 and Hong Leong Financial Group advanced 42 sen to RM13.26.

Meanwhile, the ringgit was up marginally against the US dollar at 4.1925 and fell 0.02% against the pound to 5.4890.

The local currency fell 0.12% against the euro at 4.9638 and 0.09% to 3.0605 against the Singapore dollar.

Among the key regional markets:

Japan’s Nikkei 225 fell 0.83% to 23,096.75;

Hong Kong’s Hang Seng Index advanced 0.65% to 25,347.34;

CSI 300 rose 2.35% to 4,815.23;

Taiwan’s Taiex added 1.26% to 12,956.11;

South Korea’s Kospi fell 1.23% to 2,407.49 and

Singapore’s Straits Times Index fell 0.38% to 2,571.55.

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KLCI , Bursa , Top Glove


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