Rout on Bursa continues as glove makers extend losses

  • Markets
  • Thursday, 10 Sep 2020

KUALA LUMPUR: The rout on Bursa Malaysia continued on Thursday as glove makers came under extended selling pressure ahead of the Sept 30 moratorium deadline and Bank Negara’s decision on the Overnight Policy Rate at 3pm.

At 12.30pm, the FBM KLCI was down 14.13 points or 0.94% to 1,482.59. Turnover was 4.68 billion shares valued at RM3.22bil. Decliners beat advancers 851 to 227 while 330 counters were unchanged.

Bursa was heading the opposite direction compared with Asia's stock markets which snapped their longest losing streak since February.

Reuters reported the firmer Asian markets rose following a bounce on Wall Street, though subdued trade in currency, commodity and bond markets suggested investors remain cautious about the outlook.

More than 27.85 million people have been reported to be infected by the novel coronavirus globally and 902,216 have died, according to a Reuters tally.

Kossan fell RM1.41 to RM9.55, Hartalega RM1.08 to RM11.92, Supermax 96 sen to RM6.52 and Top Glove 57 sen to RM6.58.

Comfort Glove lost 42 sen to RM3.38 and Careplus 38 sen to RM2.18.

Pharmaniaga was down 34 sen to RM4.22.

Consumer stocks Heineken fell 32 sen to RM19.06 and Carlsberg 30 sen to RM19.30 but F&N added 10 sen to RM32.10.

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glove makers , rout , Bursa


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