Profit-taking continues on glove makers, KLCI down 8.9 points

KUALA LUMPUR: The FBM KLCI ended in the negative territory on Tuesday, weighed down by selling in glovemakers and selected heavyweights.

At 5pm, the FBM KLCI eased 8.91 points to 1,634.99 after moving between a hight of 1,645.76 and a low of 1,630.83. Earlier, the benchmark index opened 0.47 of-a-point higher at 1,644.37.

Market breadth was negative as losers led gainers 559 to 601, with 473 counters unchanged. Turnover stood at 9.14 billion shares worth RM4.2bil.

The big three glove stocks - Hartalega Holdings Bhd, Supermax Corp Bhd’s and its structured warrants and Top Glove Corp Bhd - dominated Bursa’s losers' list today.

Hartalega tumbled 52 sen to RM11.94, pushing the index lower by 2.7287. Top Glove shed 25 sen to RM6.01, dragging the index down by 3.1388. Supermax fell 33 sen to RM6.06, nudging the index 1.3745 points lower.

Other glove counters, Comfort Glove fell 16 sen to RM2.96, Careplus declined 13 sen to RM2.08 and Kossan declined 10 sen to RM4.70.

Among the heavyweights, Maybank added four sen to RM8.85, Petronas Chemicals lost 12 sen to RM7.37, Public Bank reduced eight sen to RM20.70 and PPB Group closed down 26 sen to RM18.62.

Nestle, the top gainer on Bursa Malaysia, jumped 90 sen to RM139.50. KESM added 38 sen to RM13.54, CN Asia rose 36 sen to RM1.68 and Heineken gained 32 sen to RM23.44.

Meanwhile, the ringgit was down marginally against the US dollar at 4.0493 and up 0.38% against the pound to 5.4689.

The local currency fell 0.01% against the euro at 5.4689 and up 0.02% to 3.0500 against the Singapore dollar.

On the regional front, Japan’s Nikkei 225 rose 2.66% to 27,568.15, its highest closing level since Aug. 16, 1990.

Reuters reported that South Korean shares closed at a record high on Tuesday on hopes that a long-awaited U.S. pandemic aid package would be expanded, though a slew of blue-chips went ex-dividend, capping gains. Both the won and the benchmark bond yield rose.

The benchmark KOSPI rose 11.91 points, or 0.42%, to 2,820.51.

China’s Shanghai Composite index was down 0.54% at 3,379.04, while the blue-chip CSI300 index was down 0.42%.

Hong Kong’s Hang Seng index was up 253.86 points, or 0.96%, at 26,568.49.

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KLCI , Bursa Malaysia , FBM KLCI , glovemakers


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