Short-sellers take a step back

Pressure easing: Nearly RM1bil worth of shares were short sold on the first trading day of 2021, with over 94% of the short-selling volume recorded among the big four glove stocks.

PETALING JAYA: Short-selling pressure on Bursa Malaysia appears to have eased as the stock market’s bellwether index snapped a two-day slump, ending the day on its intraday high.

The FBM KLCI rose by 5.78 points or 0.36% to 1,608.35 yesterday, although sentiment across the stock market remains muted with 676 losers and 479 gainers.