Over 1,000 stocks in red on Budget, Top Glove woes

Declining stocks thumped advancers more than four to one or 1,093 losers to 250 gainers and 321 counters unchanged.

KUALA LUMPUR: Bursa Malaysia recorded more than 1,000 counters in the red at the close on Tuesday on concerns about the ability of the government to get a majority of the MPs to support the Budget 2021 proposals on Thursday.

Also pushing the FBM KLCI lower was Top Glove as only 10% of its factories in Klang are operational due to the shortage of manpower as most of the workers have been quarantined due to the Covid-19.