Tech stocks climb on Bursa but glove stocks retreat

KUALA LUMPUR: Bursa Malaysia slipped into negative territory at midday on Tuesday as glove stocks shed recent gains due to profit taking but technology and semiconductor stocks provided some respite.

At 12.30pm, the KLCI was down 1.52 points or 0.1% to 1,516.59. Turnover was 6.50 billion shares valued at RM3.22bil. There were 383 gainers, 566 losers and 411 counters unchanged.

As for the Asean markets, Reuters reported Philippine shares rose to a two-month high as the easing of coronavirus restrictions boosted risk appetite, while Thai shares held near six-month lows after a sell-off triggered by fears of escalating anti-government protests.

At Bursa, among the consumer stocks, Nestle fell the most, sliding RM2.10 to RM139.90, F&N 44 sen to RM31.12, Dutch Lady and Carlsberg 10 sen each to RM37.30 and RM18.98.

As for plantations, PPB Group lost 16 sen to RM18.80.

Among the pharmaceutical stocks, Pharmaniaga shed 11 sen to RM5.39, Duopharma lost six sen to RM4, Apex Healthcare five sen to RM3.45but Kotra added eight sen to RM3.44.

Kossan shed seven sen to RM8.06, Top Glove three sen to RM9.57, Supermax two sen to RM10.68, Hartalega unchanged at RM19, but condom maker Karek jumped 18 sen to 99.5 sen and Mah Sing 12 sen to RM1.36.

Tech and semicon related stocks were mostly higher, with MPI up 20 sen to RM20.66, Prolexus 14 sen to RM1.91 and its warrants 12 sen to RM1.11, Vitrox 12 sen to RM13.60.

As for Petronas linked stocks, Petronas Dagangan was down 22 sen to RM18.66, Petronas Chemicals seven sen to RM5.93 but Petronas Gas advanced six sen to RM16.08.

Aneka Jaringan, which was listed on the ACE Market, shed two 2.5 sen to 30.5 sen due to the weaker market sentiment.

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