KLCI lower on profit taking, glove stocks jump

KUALA LUMPUR: Glove counters advanced on Wednesday amid news that Johnson & Johnson's Covid-19 vaccine trial has been halted due a safety concern.

The jump in the FBM KLCI-linked heavyweights helped to offset some losses on the domestic market amid a flurry of profit-taking following two days of strong gains.

Top Glove rose 23 sen to RM9.32 and Hartalega climbed 22 sen to RM17.80, in line with the rest of the sector.

At 12.30pm, the FBM KLCI was 4.92 points lower at 1,520.28 as most heavyweights on the index pulled back from recent gains.

Trading activity on the market was also seen ticking higher with 3.79 billion shares traded worth RM3.11bil.

According to Malacca Securities Research, the advance yesterday was owing to investors relief that there were no changes in the political agenday.

Petronas Dagangan dropped 30 sen to RM19.70 while MISC fell 12 sen to RM6.73.

Among bank stocks, Public Bank slipped 10 sen to RM15.86 and Maybank lost eight sen to RM7.27.

Meanwhile, top active stocks were Mtronic up one sen to 11.5 sen, Esceram jumping 21.5 sen to 74 sne and HLT adding 17 sen to RM1.90.

In Asian markets, Japan's Nikkei added 0.1%. China's key index however fell 0.5% and Hong Kong's Hang Seng slid 0.3%.

Australia's ASX200 was also 0.1% lower.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Bursa Malaysia , FBM KLCI , equities


Did you find this article insightful?


Next In Business News

Bursa recoups nearly all its losses as KLCI climbs above 1,600
UiTM Solar Power Dua plans RM100m green SRI Sukuk
Malaysia to charge Top Glove over worker accommodations, government says
Banks demonstrate resilient credit portfolios, S&P Ratings says
Quick take: Press Metal climbs to record, aluminium prices at two-year high
Malaysia records RM109.8b approved investments in Jan-Sept
Nikkei ends near 29-1/2-year high on vaccine, stimulus hopes
Singapore central bank urges prudence in property purchases
All EPF branches to open from Wednesday
Sime Darby divests three river ports in China for RM181.1m

Stories You'll Enjoy