Glove makers slip, pharmas climb on vaccine hopes


  • Markets
  • Tuesday, 15 Sep 2020

KUALA LUMPUR: Several glove makers fell in early Tuesday trade, giving up part of the previous day’s gains on profit taking, while pharma stocks climbed on hopes for a vaccine for the Covid-19.

At 9.35am, the KLCI was down 1.03 points or 0.07% to 1,510.33. Turnover was 1.62 billion shares valued at RM1.15bil. There were 337 gainers, 334 losers and 371 counters unchanged.

On the external front, Asian stocks drifted at the open after snapping two weeks of declines Monday, Bloomberg reported. The dollar maintained losses and the yuan was steady after rising to the highest this year.

Japan’s stocks edged lower, while Australia and South Korea had modest gains.

At Bursa on Monday, foreign funds turned around to be net sellers at RM187.9mil and local institutions at RM91.6mil but local retail investors net buyers at RM279.5mil.

Supermax fell 43 sen to RM8.57 while Rubberex, Comfort Gloves and Top Glove fell 19 sen each to RM5.44, RM4.18 and RM8.39 but Hartalega gained 38 sen to RM13.38 and Kossan 36 sen to RM11.46.

Pharmaniaga jumped 29 sen to RM4.78 and Duopharma 28 sen to RM3.38 as they would benefit from the distribution of the vaccines for the Covid-19.

MPI was the top gainer, up 52 sen to RM17.92, MMAG 23 sen to RM1.39 and LPI 22 sen to RM13.12.

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